I am currently developing a services marketplace (for students/tutors). Which payment model would you suggest out of subscription, escrow or a direct services fee for the transaction?
There are several questions/pieces of information you would want to consider to know which avenue to go down (a few highlighted below):
- which platform are you going to be on-boarding and connecting students/tutors thoughts? web, mobile, hybrid or brick & mortar (includes actual phone calls etc)
- how often are disbursements of funds going to happen with a typical transaction period (say 1 month)?
- what is your service fee/cut for the work completed? are you working on a %/commission basis or are you generating funds from clients in another way?
- which party shoulders the service fee your charge? Is it just one party or both?
- is the transaction always intending to be a 1 to 1 relationship (i.e. would a group of students be able to hire a tutor for an exam review session and split the costs etc?)
those are just a few things that should be top of mind as you consider which ways and means you intend to collect/process payments for your service. I'd be happy to jump on a call and walk through these and other questions to help get you on the payment model/processor right for you.
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