Overview
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, either by creating a Stripe Connect Express account used solely for this purpose or else allowing you to link to your existing Stripe account.
Account Types
Stripe Express Accounts
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/payouts (or merchant.violet.io/settings/payouts 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.
Stripe Standard Account
If you already have a Stripe Standard Account, you can link your account to Violet using Stripe Connect. This will allow you to receive payouts from Violet in the same Stripe account you already conduct business in.
Setting Up Payments in Violet
To connect your bank account please login to your Violet account at channel.violet.io or navigate directly to channel.violet.io/settings/payouts.
Next, click on the Channel Menu bottom left corner. From there, select settings and once there, select Payments under org settings.
You will be given the choice to connect your current Stripe account or to setup a new payout account.
Connect your current Stripe account
Select the option to connect your current Stripe account. You will be redirected to Stripe to select which account you would like to connect with Violet.
Once you are redirected to Stripe, make sure you are logged in with the credentials you normally use to manage your existing Stripe account. Make sure you recognize the account you are selecting to link to Violet and that it is the desired account.
In this flow you should never be selecting “Create New Account” option on Stripe. If you do not see your desired account, this means you have not logged in with the correct Stripe credentials, and you will need to double check with your team to determine who owns the Stripe account so they can log in.
After selecting your account you will be returned to Violet and you will see that your account has now been connected.
Creating a new Stripe account
Select the option ‘I don’t have a Stripe account’. You will be asked to Select a Country:
- Enter the Country for your Bank Account.
- Violet will 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.
- Click “Go to Stripe” to link a payout account and enter required information.
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 a new account (KYC)
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 “Go to 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.
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