The payouts onboarding step during Violet Connect lets your merchant connect a bank account to Violet for automated payouts. Merchants select the country their bank account is based in and then complete onboarding through Stripe Connect, Violet’s payment provider.
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 payment stacks. 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. 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.
You can learn more about payout account onboarding in our Stripe KYC Guide.