In order for you and your merchants to get paid for Orders placed through Violet, you will both need to connect a bank account. Violet handles this through Stripe Connect, and creates a Stripe Connect Express account used solely for this purpose.
Stripe Connect Express accounts are a core part of Stripe’s product offering and used by companies such as Doordash, Lyft, and Shopify to power their payouts. You can read more about it here: https://stripe.com/connect.
Violet specifically uses Stripe Express to ensure that Stripe handles the onboarding and provides you with the ability to control your own payout schedules and connected bank accounts. Additionally, Stripe provides you with a dashboard that you can access through channel.violet.io/settings/payments (or merchant.violet.io/settings/payments if you are a merchant), which shows your upcoming payouts and any transfers made by Violet to your account. This information never leaves Stripe and this account is only used by Violet for payouts.
Violet does not currently support linking existing Stripe accounts and the Stripe Express account is not a “full” business Stripe account. The benefit of this flow vs. a full Stripe onboarding flow is that the KYC process is much simpler than onboarding with a full business Stripe account.
Connecting Your Bank Account
To connect your bank account please login to your Violet account at channel.violet.io or navigate directly to channel.violet.io/settings/payments. Once logged in, you will be prompted to select either “Violet Payments” or “External Payments”. Most channels select “Violet Payments” unless they are explicitly building their own complete payment stack. For more information on the differences, click here
Next, click on the Channel Menu bottom left corner. From there select settings, once in settings you can select Payment proceed as follows to connect your bank.
- Enter the Country for your Bank Account.
- Click “Manage on Stripe” to link a payout account and enter required information.
Violet will then show you the state of your connected account in the form of indicators, which you can use to determine whether or not an account is enabled.
If you are unable to locate the country your bank is located in within the list of available countries, we cannot currently support you. We are limited to the countries currently supported by Stripe.
Enabling an account
As part of Stripes Know Your Customer (KYC) policy we are required to provide any information about you or your company that Stripe requests. This information can be populated in the Payout Info section by clicking on “Manage on Stripe”.
Your apps will continue to function in the event that Stripe determines they need more information before processing payouts to your account. Any commissions earned by your application will be credited to your connected account and will begin depositing into your bank account again once Stripe is satisfied with your information.