Introduction to Pricing and Fees on Wow Buy:

At Wow Buy, our pricing structure is designed with fairness and market competitiveness in mind. We recommend that sellers list their products at the same retail list price as they would externally. This parity ensures competitiveness and fairness across the platform, providing an equitable shopping experience for buyers.

Overview of Pricing Structure:

Our revenue model is based on either the margin between the wholesale price received from sellers and the retail list price or as a percentage of the list price.Each seller’s pricing structure will be individually agreed upon at the time of joining Wow Buy.It is essential that the margin on a product listed on Wow Buy covers at least the transaction cost to ensure sustainability and profitability for both sellers and the platform.

Pricing Consistency Across Product Categories:

Currently, Wow Buy does not differentiate pricing structures across product categories, maintaining simplicity and consistency in our pricing approach. However, this policy is subject to future changes, and any modifications will be communicated in advance to our sellers.

Fee Structure Explanation:

Our preferred pricing method involves receiving the wholesale price from sellers and listing the product at the corresponding retail list price. In cases where margins are thin, an alternative commission-based arrangement is available. We tailor fees based on individual agreements with sellers, ensuring transparency and mutual understanding before finalizing any contracts.

Detailed Breakdown of Fees:

Understanding the various fees associated with selling on Wow Buy can help you manage your business effectively on our platform.

Listing Fees:

At present, Wow Buy does not charge any listing fees. However, this policy is subject to future changes, and any modifications will be communicated in advance to our sellers.

Transaction Fees:

Wow Buy initially covers all transaction fees, which are later deducted from seller earnings upon withdrawal. This structure ensures that sellers do not face upfront costs when transactions occur.

Service Fees:

There are no service fees charged by Wow Buy. We provide free support to all our sellers, reinforcing our commitment to your success and satisfaction.

Cancellation and Refund Fees:

If a buyer cancels an order before shipping, Wow Buy absorbs the gateway transaction costs. Post-shipment cancellations by the buyer are non-refundable.Sellers are responsible for any gateway transaction fees if they cancel an order.

Accepted Payment Methods:

Wow Buy supports various payment options, including Payfast, Bobpay, and Ozow, though available methods may change.

Setting Up Payment Information:

During onboarding, sellers must provide valid banking details, proof of account and VAT registration (if applicable) to hello@wowbuy.co.za in order to facilitate secure transactions.

Secure Payment Processing:

We employ stringent security measures to ensure that all transactions and seller funds are handled with utmost care and integrity.Any information used by Wow Buy will be used explicitly in line with POPI Act.

Managing Pricing and Fees:

Sellers have the flexibility to update their listing prices as long as they comply with the minimum transaction fee coverage. Non-compliance may result in penalties, reinforcing the importance of adhering to our pricing guidelines.

Seller VAT registration:

Sellers are obligated to provide their VAT registration documents upon setup of their account. If the seller is not VAT registered, their list prices will receive a 15% markup on their list prices to counteract the VAT costs.

Getting Support:

For any questions or concerns regarding pricing and fees, sellers can reach out to our dedicated support team at hello@wowbuy.co.za. Our team is here to assist you with any inquiries to ensure smooth and successful operations on our platform.