This means that we are not permitted to handle any payment transactions ourselves. One solution which complies with German Financial Supervisory Authority requirements is cooperation with a bank which handles payment transactions on your behalf.
MangoPay is a young payment service-provider which already handles payments for more than 300 successful marketplaces, crowdfunding platforms and mobile Apps. These include Kleiderkreisel, Vestiaire Collective, Wertgeschenk and Ulule. MangoPay is backed by Credit Mutuel, the second largest French bank.
In general under the heading “Billing”, a distinction is made between the following menu items:
- Summary (arrange payments here from the trustee account into your business account, and view all transactions with online payment in one table.)
- Monthly statement (This shows all bookings at transaction level in booking date order and grouped by calendar month.)
- Statements (PDF archive of invoices you receive monthly from bookingkit.)
1. Summary - trustee account and payout
a) -> Credit into your bookingkit trustee account (in this case: 16,261.69 Euros) -> less guarantee retention of 5% of total turnover for the last 180 days (in this case: 14,427.79 Euros, >> background information) = max. available amount which is currently available for payout (in this case: 1,833.90 Euros) -> One click on the green button “Payout” opens the relevant dialogue window.
b) -> After entering the amount, this is directed when “Payout” is selected as a credit to your business account.
2. Summary - transactions by date, type of turnover and value
c) -> Select the booking period for the required display option - the standard view selected in this case in always the current month.
d) You may also filter Credit and debit and your payins and payouts will be displayed.
e) -> By clicking on the respective transaction, you will be forwarded direct to the booking concerned.
The value shown here is made up as follows:
Total amount of booking incl. VAT (in this case: 60.00 Euros) less transaction fee for the online payment plus VAT (in this case: 5% = 3.00 Euros + 0.57 Euros = 3.57 Euros)) less bookingkit booking fee amounting to 0.50 Euros per participant plus VAT (in this case: 1.19 Euros for two participant) = your credit balance (in this case: 55.24 Euros)
f) -> Payouts already made will be shown in red as a negative sum, type of turnover “Payout”. By clicking on the corresponding row, you can generate the appropriate payout record as a PDF.
Your bookingkit invoice archive - all the invoices sent to you monthly by ourselves can be called up here as PDFs at a later date.