What is Stripe and how does it work?

Modified on Fri, 6 Dec at 10:26 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 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 my payouts as a provider?

  • If navigating via the web
    • Go to Pro Dashboard -> Payouts -> Setup payouts  
  • If navigating via the app
    •  Go to Account -> Business -> Payouts -> Setup payouts 


Please refer to this article for more clarity on How do I add/update my bank or my business details? 

 



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