What is Stripe?
Stripe is a Payment service provider that provides online payment methods. Whiskybase sellers can make use of Stripe to receive payments on their online wallet that can be used for online payments or processed to a bank account. See more info on their website: https://stripe.com/
Why do I need a Stripe account?
In order to receive payments for your orders on the marketplace you need to have an online wallet. Your sellers account in Whiskybase needs to be connected to your Stripe account in order to get paid for your sold items on the marketplace.
How do I get a Stripe account?
If you open the sellers section in the market tab of your profile editor you can start the onboard process that will create a Stripe account. During the onboarding process you can choose between a personal or a business account, based on your situation. For business accounts there will be a bit more information requested like an UBO declaration. This information needs to be uploaded to Stripe after the onboarding process has been finished and the account created.
What are the costs for selling with Stripe?
The fees that Stripe charges are variable and depending on things like the used payment method. Whiskybase takes care of these fees, and therefore charges a fixed 8% fee of the order price without the shipping costs. So when an order is completed all sellers receive a payment of (bottle price -8%*bottle price +shipping costs)
What payment methods are supported?
At this moment the supported payment methods are: Sofort, Ideal, Creditcards, Bankcontact and Giropay. These will be the payment methods we will start with and in the future more will follow.
How does the payment process works?
Stripe works as a so-called Escrow system.
When an order is paid for the payment will be made to the account of Whiskybase. It will stay on our account till the order is finished, so accepted by the buyer, or canceled for some reason. In case of a cancel the payment will be refunded to the buyer, when it’s accepted Whiskybase will make the payout to the sellers account.
I've sold a bottle that is paid for according to the order page, but I don't see any payment in my Stripe dashboard.
Because all payments are made to the account of Whiskybase first they aren't visible on a sellers account yet. When an order is finished and accepted the payout to the seller will be made and becomes visible in his Stripe account
How long does it take to receive a payout?
When an order gets accepted on Whiskybase the payout will be immediately processed to your Stripe wallet. These payments will be automatically processed to your bank account after 7 days. See also the information about this on the Stripe website: https://support.stripe.com/questions/waiting-period-for-first-payout-on-stripe
Is Stripe the only way to receive payments?
Beside Stripe also Paypal payments are supported. Buyer can make their own choice when they place an order. For orders that for some reason can’t be paid with Stripe or Paypal please consult our support so we can arrange an alternative
Can any seller use Stripe?
No. Stripe will only be available for EU based sellers. For sellers outside EU it only is possible to use Paypal
I’ve registered a business account in Stripe, but don’t have a registration number with a company trade register. Therefore my Stripe account isn’t activated.
Stripe offers a standard registration number for this use. If you register with number HRG00000000 and the city of your company registration it will be accepted and your account will be enabled.
I've paid for an order by SOFORT but the order payment status is showing the payment is still pending
SOFORT payments always take a few days before they're processed. This usually takes 2-3 working days. When the payment is processed the order status will be automatically updated to status paid.