One of the most frustrating and time-consuming business practices is the handling of making payments to consignors whether it be for consigned items or items purchased outright. Whether you want to send single or multiple payments, writing checks or taking cash out of the cash drawer has a lot to be desired. On top of that, with the insecurity of distributing checks and impatient consignors, this tried and true method has become quite the dinosaur in today’s digital world.
- Liberty REACT ver. 6.1 or greater.
- Paypal business account required.
- Apply for a Paypal Payout account (3-4 days).
- Maintain a balance during payouts.
- Consignors must have a Paypal or Venmo account to receive digital payments.
The problems are...
Tired of having to work extra hours and asking other employees to stay longer to help with other tasks so you can get your check run prepared? How about the lights and extra payroll?
The solution is: Using ResaleWallet will help reduce labor costs on the time set aside for preparation and processing of manual payments.
On average, paper checks average between $0.12- $0.20 per check – add on the envelope, first-class mail, and laser printer toner, and now you are getting close to $1.00 per check. In addition, all that printer ink is not environmentally friendly!
The solution is: Using ResaleWallet eliminates the time of handling the checks and keeps the processing time to a minimum. With just a few clicks your consignors are paid and there are no issues to worry about. No more bad check runs and wasted checks.
More and more stores are complaining about checks being counterfeited and cashed with different amounts. Security companies are telling us this is one of the leading theft areas in the business world today.
The solution is: ResaleWallet doesn’t require any printing and eliminates this problem.
Consumers are getting used to instant access to their funds. Printing and sending checks takes at least 10 days before they even have access to that money.
The solution is: Consignors will love you for offering ResaleWallet for their convenience. Funds will be sent to them immediately.
Keeping cash around is not a smart idea. Obviously, it can tempt employees and elevate your risk for break-ins.
The solution is: With ResaleWallet, you only need to have a balance in your Paypal account.
- Checks are costly
- Delivery costs continue to rise
- Consignors must wait 3 – 5 days
- Requires expensive toner or ink
- Printing checks is time-consuming
- Checks are less secure
- Paper checks can be lost
- Avoid break-ins
- Reduced costs and labor
After you create a digital payout, ResaleWallet automatically sends the payment to each client, and payment details are instantly updated in your system. You will be notified by PayPal when your payments are sent and the complete payout history is available on your website and available to your clients. Consignors can get their payment information along with item detail through the consignor connector.