As you develop a storefront, one of the most important things to understand is how will you get paid when items are sold. How does money reach your account for sales made through your application? How will that money reach the Merchants you have integrated with? This can be handled one of two ways: 1) Violet gives you the ability to link a bank account and takes care of the rest or 2) you build external payment tools to manage everything on your own. We'll walk through #1 below. If you'd like to explore option #2, feel free reach out to us via support@violet.io.

When using the Violet API to transact one or more products we use Stripe's libraries to tokenize your customer payment data before charging the card. You are required to provide a payment method for the cart, which is usually the shoppers credit card information. If you are PCI Compliant, you can enter this information directly on your application and send it to Violet through the @Checkout APIs.

Once Violet has this payment data, when an order is completed, Violet handles both payment to you as well as all the Merchants involved in this order (since your application could sell products from multiple merchants). Payments are made directly into the bank account that you’ve connected to Violet. Our connection to this bank account is limited to deposits only. We cannot read any data from your account or perform withdrawals. Violet handles all of these transactions through Stripe. You can learn more about Stripe partnerships here.

Getting Paid

Connecting Your Bank Account

To connect your bank account please login to your Violet account at my.violet.io. Once logged into click on the Settings icon in the far right hand corner. From the left menu select Payout and proceed as follows to connect your bank.

  1. Enter the Country and Currency for your Bank Account
  2. Enter your Bank Account Information
  3. Click Connect Payout Method
  4. Manage on Stripe to enter required information to enable Payouts

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.

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Populating Your Bank 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.

Receiving Payments

When an order facilitated by your application and is accepted and shipped by the merchant your commission will be credited to your account. On a 7 day rolling basis any commissions will be deposited into your bank account.

Accounts in good standing may be eligible for converting to a 2 day rolling payout basis. Please contact us at support@violet.io if interested in applying for this upgrade.

Order Returns

In the event that a customer returns the items they purchased within 30 days the transaction will be partially or fully refunded, depending on what portion of the order was returned. In this event the refunded amount will be retracted from all parties (the merchant, Violet, and the channel).

It is recommended that a minimum amount to cover recent orders is always left in the connected bank account to accommodate for returns. If a refund results in an insufficient funds error your account may be converted to a 30 day rolling payout basis to reduce the chances of this issue occuring again.

Updated 06 Jul 2022
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