What is Stripe and how does it work?

Modified on Thu, 11 Jul at 12:15 PM

TABLE OF CONTENTS


What is Stripe?

Stripe is an online payment processing and credit card processing platform.

Stripe allows safe and efficient processing of funds via credit card or bank transfers.


How Does It Work? 

Stripe works as an intermediary between you and a bank or a person who is paying you.

In simple terms, if you’re a provider, Blys sends your payment to Stripe and then Stripe sends that payment to you. And if you’re a client, you send your payment to Stripe and then Stripe sends that payment to Blys.


Why do we use Stripe?

We use Stripe because it’s the safest way to send and receive payments over the internet.

Stripe's system is encrypted and constantly monitored for fraudulent activity which means payments and banking details are kept safe.


How do we set up Stripe from the Blys Pro web?

After login please navigate to:


Pro Dashboard -> Business -> Information -> Banking Information -> Setup Payouts  as per the screenshot below:


After you press Setup Payouts you will be redirected to the stripe page. Press continue and complete the Stripe setup. 


Check out our video here for a run-through of how to set up your payments through the Stripe platform.


How do we login onto Stripe if we have changed the number?

After login please navigate to:


Pro Dashboard -> Business -> Information -> Banking Information -> See Payouts as per the screenshot below:


After you click on See Payouts, you will be redirected to the Stripe login page. 


Please select the "I no longer have access to this phone number" link as per the screenshot below which will send the code to your registered email address with Stripe. 

Then please login with that code and update the phone number in Stripe.


Stripe US Update:

Until recently, US users needed to have a debit card on file to receive payouts instantly. Starting September 12,2023 US connected accounts with an eligible bank account will be able to receive Instant Payouts without a debit card.


Please see the updated Instant Payouts documentation for additional details.

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