Creator's Compensation and Fees
Below are the principles for calculating compensation and fees for RefSpace Creators. This document contains details on two types of Creator compensation and the method of calculating the Stripe online payment fee.
1.
Creator Commission
When your fan pays for an order that includes a product from your store as a Creator you receive a commission from the sale of that product. The percentage amount of the Creator Commission is visible in the Products tab in the “Creator Commission” column in the row concerning the given product. The calculated amount is reduced by the cost of the Stripe online payment fee described in point 3.
| Example Product | Product Price | Creator Commission | Commission Amount Before Stripe Fee Deduction |
|---|---|---|---|
| Product A | 100 PLN | 3.31% | 3.31 PLN |
| Product B | 100 PLN | 10.12% | 10.12 PLN |
| Product C | 100 PLN | 19.02% | 19.02 PLN |
The Creator Commission is calculated from the gross value of the product.
2.
RefCash
Buyers can tip the Creator in the form of RefCash worth 10 or 20 PLN EUR or USD. After deducting the RefSpace commission of 1 PLN + 20% and the Stripe fee described in point 3 the remaining amount is credited to your Stripe account and is immediately available for withdrawal if you have linked your RefSpace account with your Stripe account.
| Transaction Value | RefCash Amount | RefSpace Commission | Total Stripe Fee for the Transaction | Stripe Fee for Creator for RefCash | Amount Payable to Creator |
|---|---|---|---|---|---|
| 100 PLN | 10 PLN | 1 PLN + 20%*(10 PLN) = 3 PLN | 2.9 PLN | 0.2 PLN | 10 PLN - 3 PLN - 0.2 PLN = 6.8 PLN |
| 100 PLN | 20 PLN | 1 PLN + 20%*(20 PLN) = 5 PLN | 3.5 PLN | 0.53 PLN | 20 PLN - 5 PLN - 0.53 PLN = 14.47 PLN |
3.
Stripe Payment Processing Fees
The total online payment fee is calculated according to the pricing of the Stripe online payment system for the entire purchase transaction including delivery and RefCash. However the Creator does not bear the cost of the entire transaction only the part that constitutes their profit.
Important Note:Commission amounts for the same product and RefCash amounts may vary slightly depending on the total transaction amount or order items. The final amount is always dependent on the current Stripe fee rates for Przelewy24 payments (including BLIK).and for European cards and Google Pay / Apple Pay wallets. Sample calculations are provided in the table below.
| Transaction Value | Payment Method | Stripe Fee Formula According to Price List | Stripe Fee Calculation | Commission Amount Before Stripe Fee Deduction | Creator's Earnings |
|---|---|---|---|---|---|
| 100 PLN | Przelewy24 (including BLIK) | 1.9% + 1 PLN | 2.9 PLN | 10.12 PLN | 9.83 PLN |
| 100 PLN | European card or Google Pay / Apple Pay wallet | 2.5% + ok. 1 PLN (0.20 GBP) | approx. 3.5 PLN | 19.02 PLN | 18.35 PLN |
These fees are automatically deducted from the payouts to the Creator’s account on the Stripe platform.
4.
Funds Block and Pending Funds
The funds from commissions, after deducting the Stripe fee, are blocked for 21 days in case of returns of ordered goods. During this period, they have a pending status. After this period, they are unblocked and available for the Creator to withdraw. The funds from RefCash are not blocked and are available for withdrawal immediately after purchase. All funds will also have a pending status if the creator has not yet connected their Stripe account. Once they do, the RefCash funds will be immediately available for withdrawal, while commission funds will be available 21 days from the date of purchase. The above rules detail the calculation and payment of compensation and fees for Creators on RefSpace. If you have any questions, please contact our support team by emailing [email protected].
Last updated:
July 23, 2024
Next scheduled update:
October 23, 2024
Company data:
Name: Refspace LTD
Company number: 14127969
Address: 85 Great Portland Street First Floor London W1W 7LT
Contact: [email protected]