Marketplace Earnings and Payouts Update

We wanted to inform you about some important changes happening on Airbit regarding our payment methods and payouts on our marketplace. These changes aim to enhance the overall experience for both our valued sellers and buyers.

Payment Options

Currently, we only accept PayPal as the payment method on our marketplace, and sellers receive instant payouts for each purchase. While this has served us well, we have recognized certain limitations that have led to a less-than-optimal checkout experience for our buyers, and overall missed opportunities for our sellers. Therefore, we are introducing some significant improvements.

Starting from 1st August 2023, we will expand our payment options to include credit card payments on our marketplace. This means buyers will have the flexibility to choose between PayPal, credit card, Apple Pay, Google Pay and more when purchasing, providing a seamless and convenient checkout experience.

Payouts

To align with this new payment structure, marketplace payouts to sellers will no longer be instant, and we will be modifying the payout process for seller marketplace earnings. Starting from 1st August 2023, all marketplace earnings will be recorded in the Monetization -> Payouts section of your Airbit seller dashboard. At the end of each month, we will batch the accumulated earnings and initiate payouts to you via Tipalti, an industry leader in music royalty payouts. This change ensures a more streamlined and efficient revenue collection process, enabling us to serve our valued buyers and sellers better.

Please note: This change will only affect earnings on the Airbit marketplace, for all earnings on private Infinity and HTML5 stores, these will remain instant and direct to the seller.

We believe these changes will bring significant benefits to our sellers. By switching to monthly batched payouts, there will be reduced individual PayPal transaction fees, ultimately resulting in more revenue in your pockets. Furthermore, the improved buyer experience with additional payment methods will increase potential revenue for you as a seller, as it removes any barriers or limitations associated with PayPal.

For sellers, Tipalti will provide multiple payout methods such as PayPal, ACH, paper checks, and wire transfers, offering more flexibility and convenience in receiving your hard-earned funds.

Preparing for the change

If you are a seller, we’ll need to collect additional information from you to enable us to pay out your earnings. To do this we’ve prepared a new section on your seller dashboard to collect this information to ensure you are paid out using your chosen method. Follow the link below to begin entering your payout information.

We understand that change can sometimes be challenging, but we firmly believe that these enhancements will greatly benefit our whole community. We are committed to continually improving our platform and services to support your success and provide an excellent experience for both you and our buyers.

If you have any questions or require assistance with these changes, please do not hesitate to reach out to our dedicated support team. We are here to help and guide you through this transition.

Thank you for your continued support and trust in Airbit. We look forward to these exciting updates and the positive impact they will have on your earnings and the overall marketplace experience.

FAQ

• Why are you implementing this change?

  The implementation of this new payout system is aimed at enhancing the payment options available to sellers within the Marketplace. Unlike the current model, which only allows PayPal payments, the new system offers a broader range of payment methods. This is crucial as PayPal may not be easily accessible to all buyer and sellers, and many customers choose not to use it.

• Does this change impact my personal HTML5 or Infinity Store?

  No, your personal stores and profile page stores are not part of the Marketplace and, therefore, will not be affected by this change. You will continue receive instant payments from these sources.

• How does it impact my earnings from the Marketplace?

  The introduction of the new payment system may result in increased earnings for sellers. One key factor contributing to this is that you will only incur a single small fee on your entire payout, as opposed to paying fees for each sale made through PayPal. Additionally, the Marketplace will now accept a wider variety of payment methods. By offering more payment options, we enable a larger customer base to make payments, leading to greater opportunities for sales.

• When will I receive my payments?

  Payments for Marketplace earnings are made on the last working day of the month, covering the earnings from the previous month. For example, January's earnings will be disbursed at the end of February, February's earnings at the end of March, and so forth. It's important to note that payments for sales in your personal stores remain unchanged and will continue to be received instantly after each sale.

• How are chargebacks handled?

  In the event of a chargeback filed by a customer, we will handle the case on your behalf, provided it is valid. If the chargeback is lost, the debited payment from Airbit will be deducted from your future payouts. To ensure the best possible outcome, it is vital that you make all files readily available to your customers and promptly address any concerns they may have. Our team will strive to keep you informed throughout the process and work towards resolving the issue for both parties. Failure to communicate with us during such situations may lead to unnecessary disputes and potential deductions from future payments.

• Does Airbit hold my funds?

  To facilitate the payout process, we collect Marketplace earnings and release them at the end of the subsequent month. This means that instead of receiving immediate payment after each sale, you will receive the cumulative earnings for the entire month at the end of the following month. However, please note that payments received through your personal stores (non-marketplace) remain unaffected and will continue to be instantly available after each sale.

• Will this change the commission structure or amount?

  No, the introduction of the new payment system does not alter the commission structure or the amount taken from your earnings.

• Do I still need a PayPal account?

  For Marketplace sales, you will no longer require a PayPal account. Regardless of whether your customer uses PayPal, a debit/credit card, or any other payment method, you can receive direct payments to your bank account or by check. However, please note that PayPal or Stripe accounts will still be necessary if you wish to accept payments in your personal stores.

• Can I keep my funds in Airbit and withdraw them at my convenience?

  No, with the new system, payouts are made at the end of each month for the previous month's earnings. To receive your earnings, it is essential to complete the onboarding and payment setup process.

• Can I use the new system to send co-producer payments?

  Currently, the new system does not support co-producer payments.

• Is there a minimum payout amount?

  No, there is no minimum payout threshold. Any collected payments will be issued to you.

• I preferred the instant payment system of the old model. Can I still receive instant payments?

  While you can continue to receive instant payments in your personal stores HTML5 and Infinity Stores, the Marketplace will no longer support instant payments. However, this change brings several benefits to sellers, including potential increased earnings. For further details on the benefits and how they contribute to higher earnings, please refer to the provided link.