TABLE OF CONTENTS

• What is Stripe?
• How Does It Work? 
• Why do we use Stripe?
• How do I set up Stripe from my Blys Pro account?
• Can I change/ update my mobile number in Stripe?
• Stripe US Update

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 payout to Stripe and then Stripe sends that payout to you. If you’re a client, you send your payment to Stripe, and 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 I set up Stripe from my Blys Pro account?

• Log in to your Blys Pro Account
• Go to Pro Dashboard > Business > Information > Banking Information > Setup Payouts  

• After you click Setup Payouts you will be directed to the Stripe page. 
• Enter your e-mail and mobile number

• Enter the verification code sent to your mobile number

• Select the Type of Business
  • If you have not filed paperwork to register as a business entity, your business type is likely to be Individual, and you won't need to select a Business Structure.
  • If you filed documentation to register your business with a government agency, your business type is likely to be Company, and your Business Structure would depend on the specific documents you filed.
    
    If you are unsure of your Business Structure, refer to the documents you filed to register your business or consult your lawyer or tax professional. Souce: How to determine your Business Type and Structure

A. If you select INDIVIDUAL

• Choose Individual, click Continue

• Fill out / verify your details
• Click Continue

• Fill out the Business Details: Selecting your industry helps satisfy risk and compliance obligations. Select the option that best matches the goods or services.

        Industry list:

• Select an account for payouts: Once you have selected an account for your payout, fill out the necessary details. Note that the earnings you receive will be sent to the account that you have added.

• Review and Submit the information that you've entered.
• Click Agree and Submit
• You will receive a confirmation that the information you provided has been successfully submitted

B. If you select BUSINESS

• You have to select an option from the dropdown list:
  • Sole proprietorship
  • Single-member LLC
  • Multi-member LLC
  • Private Partnership
  • Private Corporation
  • Other/ I'm not sure

Please see also: Business verification requirements for publicly traded companies

• Tell us about your business: This information is collected to better serve your business and comply with regulators and financial partners.
• Click Continue

• Verify your details

• Select an account for payouts: Once you have selected an account for your payout, fill out the necessary details. Note that the earnings you receive will be sent to the account that you have added.    

• Review and Submit the information that you've entered.
• Click Agree and Submit
• You will receive a confirmation that the information you provided has been successfully submitted

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

Can I change/ update my mobile number in Stripe?

• Log in to your Blys Pro account
• Go to Pro Dashboard > Business > Information > Banking Information > See Payouts 

• After you click on See Payouts, you will be redirected to the Stripe login page. 
• Select  "I no longer have access to this phone number". It will send a code to your registered email address with Stripe. 
• Enter the code and update your phone number 

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.