Transparent and simple: our billing process
As a retailer we know an easy billing process is worth its weight in gold. That’s why it’s important to us to offer a streamlined, reliable billing model. After all, we want you to focus on selling your items, not how and when you will be paid. So what exactly does that mean for you?
First things first, you don’t have to and in fact cannot use your own payment service. Since July 2022, we have had our own payment service provider, OTTO Payments, which handles all payment activities for OTTO and thus reduces your workload.
Another advantage is that the buyers will have already passed a credit check. Since OTTO Payments assumes the del credere risk, you can be sure that all invoices will be paid and you will receive your money.
Speaking of invoices: In addition to purchase on account, customers can also use the options of payment by installments, direct debit and advance payment. On account and installment payments are very popular among OTTO customers. In the future, we will offer additional attractive payment methods.
Your billing advantages
No separate payment service required
No risk of payment default
Customer credit check included
Payment options: Purchase on account, payment by installments, direct debit, advance payment
How the billing process works
In addition to payments customers make to you, your monthly fee and any commissions are also important parts of billing. With us you will benefit from a billing process which bundles all these components together.
We deduct your expenses from your revenues, so all expenses are covered. Bookable services or promotions are also billed using this process. This keeps the billing process as simple as possible for both you and us.
Receipts and disbursements
In our partner portal OTTO Partner Connect (OPC), in which you can actively manage your marketplace business, you have an up-to-date overview of your payouts at any time. In these, fees and commissions are offset directly and displayed transparently.
One factor that is important for you as a retailer is that we also provide access to customer receipts in OPC. OTTO will create these end customer receipts on your behalf and will use the details you have entered in your company information. Customers can then view these purchase receipts or refund receipts in their customer account and thus track their purchases.
Your balance will be paid out weekly, always on Thursdays, with a due date of 14 days.
