I'm currently building a Two sided platform. I will have providers (professional e.g online teacher, online fitness coach) on one side and customers that will pay for that service on the other side.
I can a) let the customer make two transfers, one to the coach and a small fee to me.
I can b) let the customer make the transfer to the coach and after one month I will charge the fees from the coach.
a) is inconvenient for the customer because the payment should be as fast and as smooth as possible.
b) is possible but no one likes to look at their bank account and see money taken from you. Also there is a problem for me that the coach used all his money..so only more trouble for me.
C) the customer pays the money to me. It's easy and it's always the same bank account/paypal adress so it will indeed be smooth and fast.
I read that in certain countries you need an escrow license. That is because you are holding someone's money so it's heavily regulated.
Do you guys have some advice for services or softwares that might help out or a smarter way of handling this problem.
Appreciate your suggestion and solutions.
Greetings from Germany!
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