Stripe Connect is a powerful tool designed for businesses such as marketplaces and software platforms to facilitate payment routing between various parties, including businesses, customers, and recipients. This document outlines the functionality of Stripe Connect, its importance for receiving payouts, and answers common questions regarding its setup and usage.

Stripe Connect is a payment processing solution that enables businesses to securely store their bank details with Stripe for the purpose of receiving payouts. It is particularly beneficial for platforms that need to manage payments between multiple parties.

At Gigs, we utilize Stripe to process all payments. The payment journey is as follows:

• The user pays Gigs for a wireless subscription.

• Gigs pays your margin twice a month via Stripe Connect.

It is crucial to set up your Stripe Connect account promptly, as failure to do so will prevent you from receiving your payouts on the 1st and 16th of each month.

Many businesses may wonder if they need to set up Stripe Connect if they already have an existing Stripe account. The answer is yes; your Stripe Connect account is entirely separate from your existing Stripe account.

Your existing account is used to manage and process payments on your current platform, while Stripe Connect allows us to send payouts to you directly in a fully compliant manner.

No, there are no additional fees associated with processing subscription payments through Stripe. All fees are included in your fee schedule agreement.

You will still have access to all relevant data regarding subscription revenue through the Dashboard. This information can be found in the Reporting tab, which will include details on subscriptions and payouts processed through Stripe.

For more information on Stripe Connect, please refer to Stripe's documentation.