What is Stripe Connect?
Business models like marketplaces and software platforms use Connect and its related tools to route payments between businesses, customers, and recipients who need to get paid. It allows us to have your company's bank details stored securely on Stripe for payouts.
Gigs processes all payments using Stripe; the journey looks like:
User pays Gigs for wireless subscription
Gigs pays your margin twice a month via Stripe Connect
It's important to set up your Stripe Connect account as soon as possible as without it you will not be able to receive your payout on the 1st and 16th of each month.
For more information, please see Stripe's documentation here.
Do I need to set up Stripe Connect if my company already has a Stripe account?
Your Stripe Connect account is completely separate to your existing Stripe account.
Your existing account works to manage and process all payments on your existing platform.
Stripe Connect allows us to send payouts to you directly in a way that is fully compliant.
Are there any additional fees from processing subscription payments with Stripe?
No, there are no additional fees. All fees are included in your fee schedule agreement.
How does this affect reporting? Can I still see data on subscription revenue in the Dashboard?
This will be handled directly in the Dashboard, via the Reporting tab.
This tab will include all relevant info from subscriptions and payouts processed through Stripe.