Components of Rye ecosystem
Refers to items listed on merchants’ inventory; however, a product variant must be specified to place an order, such as the size and color of the product. Each
product_variant is associated with a unique id.
Product data and meta data supplied by merchants, including price, image, and stock availability. Rye maintains an up-to-date database that developers can pull from using the Sell Anything API.
A cart contains one or more
product_variant. Rye supports carts with items from multiple merchants, hosted on various eCommerce building platforms. The entire cart is submitted when an order is placed.
Payment processing for the items in cart. Rye supports a native checkout experience (no need to redirect to individual merchant sites) using most payment methods (see more on Rye Pay).
Rye programmatically sends orders to merchants and returns an
Gross merchandise value refers to the total value of goods exchanged on the platform, excluding add-ons such as shipping and tax.
Developers have two ways to monetize with Rye: by adding a % markup on MSRP or by receiving a % commission of the GMV for each sale.
A % of the GMV serves as a reward for the platform that facilitated the sale. Developers can specify a set commission rate with merchants with whom they have an existing relationship. Merchants that integrate directly with Rye are able to set a custom commission rate. Developers are likely to prioritize products with higher commission rates.
To successfully place and fulfill an order, a valid shipping method and shipping address must be submitted. Shipping options are defined by merchants, who may sometimes use third-party logistics (3PL) providers.
Merchant of Record
The merchant of record is the entity responsible for selling goods or services to the customer. The customer pays the MoR when making a purchase. In addition to processing the transaction, the MoR will also handle other financial aspects of the sale, such as collecting sales tax, compliance items, transaction safety and liability, as well as managing refunds and chargebacks when necessary.
The MoR is not to be confused with a payment processor who strictly processes transaction payments; however, the MoR does assume some financial responsibility for their customers.
The MoR may also act as the Seller of Record, responsible for the product, fulfilling orders, and answering customer questions.
B2B services, mostly in the form of Shopify apps, facilitate the eCommerce experience, including loyalty and reward programs, order tracking, bundles, and upsells. Rye has a Shopify app for merchants to plug into.
A method to notify one system about updates in an external system, Rye has webhooks that send real-time updates, such as order placed, order failed, and tracking info.