Setting up Stripe Connect
Stripe Connect is a powerful tool that allows you to create a multi-vendor platform or marketplace where funds can be accepted on behalf of other users (the vendors). Here's how to set it up.
Setting Up Stripe Connect in Stripe Dashboard
Step 1: Enable Stripe Connect
Log into your Stripe account and navigate to the Dashboard. In the ltop menu, click on 'Connect'. Click on 'Get Started' to enable the Stripe Connect feature.
Step 2: Settings
In the popup, select 'Platform or Marketplace' and click Continue.
Step 3: Platform Profile
In the Settings section of the Connect tab, provide the necessary details about your platform or marketplace.
In the platform profile tab, you will need to complete the following:
Industry - Travel
Where do customers purchase products or services? - From seller/service provider's dedicated page within your platform
Whose name is listed with the transaction on a customer's credit card statement? - Your plaform name
Who should customers contact if they have a dispute or complaint? - Your platform
Step 3: Set Up Payments and Payouts
On the top, header menu, click on the Gear button.
Find the Connect section and click on settings
Scroll down to the Integration section. Locate and copy the Client ID.
Make sure you do the same for the test mode (Development) Client ID.
Step 4: OAuth Settings and URI
You'll need to add redirect URLs, which are the URLs that users will be sent to after they've completed the Connect onboarding process. Enter the URLs in the provided fields.
The URL must follow a similar format as the following:
https://direxact.com/poststripeauth
Make sure the OAuth for Standard accounts is checked.
Under the 'Payments and Payouts' settings, select whether you want to 'Charge directly' and 'Separate charges and transfers' depending on your business model. Stripe provides a comparison of these options to help you choose the right one.
Step 4: Add Redirect URLs
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