Until 31st July 2020, it's free to list as many products as you like on Peddle.
We take a 10% commission on the GST-exclusive amount of each transaction completed through our marketplace (and we pay almost 5% of that for the Stripe, credit card and platform fees for processing the transaction).
We may introduce a fee and/or alter our commission in the future. However, we’ll give you at least two weeks’ notice before any new fee or increased commission takes effect. We may also offer promotions or fee or commission reductions from time to time at our discretion.
If we introduce a new service, then any fees connected to that new service will take effect when the service is launched.
Peddle uses Stripe Connect to securely process payments.
You need to set up a “Connected Account” through Stripe Connect to be paid for the goods and/or services you sell through the Peddle marketplace. When you sign up to Peddle, you'll be asked to Connect to Stripe as part of your sign up process.
Something to be aware of, if you have a Stripe account already, is that any account connected to your Stripe account can see all transactions that go through that Stripe account (it seems odd, but it's the way Stripe works!). So if you don't want that, you just need to set up a Stripe account specifically for Peddle. It doesn't cost you anything to do that and you can use the same email address to have more than one Stripe account (or so Stripe tells us!).
Once the relevant Patron has made payment for the goods and/services and the returns period has passed (see the Peddler Terms for details), the total amount of the transaction (less the 10% commission paid to Peddle which includes any applicable Stripe transaction fees) will be transferred to the bank account you have registered to your Stripe Connected Account.
Goods and Services Tax (GST)
Remember, as a seller in NZ, you are responsible for paying your GST (if you're GST registered). How it works is that Peddle takes a commission of 10% on the GST-exclusive product price. We pay you the amount less our commission, and then we pay GST on our commission to the IRD. We will invoice you as a Peddler for the amount of our commission, highlighting the GST component. If you are GST registered, you can then claim that component of GST as a GST credit.
For example, if you are selling a product that is $115 (including GST), Peddle will take a 10% commission on the GST exclusive price of $100 (being $10), but to that we add GST of 15% (so the total is $11.50). Peddle will then pay you $103.50. Out of that $11.50, we will pay GST to the IRD (in this example, $1.50), the Stripe payment fees (2.9% of each transaction + $0.30) and our platform fee (1% of each transaction). In this example that's $4.79. For each transaction, we will send you an invoice that states the total GST-inclusive amount of the product sold ($115), and what our commission is ($11.50), and the GST component of our commission ($1.50) so that you can claim that $1.50 as a GST credit to offset against the GST that you pay on the $115 (being $15).
We hope that makes sense!
If you're not sure about any of this, contact your accountant or the IRD for some advice.
Returns are to be dealt with between the Peddler and the Patron directly, as each Peddler will have their own Returns policy. This does not limit your obligations at law.