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How adding payout details works with Stripe
How adding payout details works with Stripe

Stripe Connect Onboarding powers your marketplace's payment onboarding for providers, allowing providers to add and edit their payout info.

Yifan Dong avatar
Written by Yifan Dong
Updated over a week ago

Sharetribe uses Stripe Connect Onboarding for Custom Accounts, which is a web form hosted by Stripe that collects identity verification information from providers to fulfil KYC (know your customer) requirements.

With Connect Onboarding, your providers get a great user experience:

  • Adding and editing payout details is easy and smooth. And the experience is constantly improved by Stripe.

  • The payout details forms get all updates right away. Whenever there’s a change to Stripe’s required verification documents, the option to add them is available without delay.

  • Connect Onboarding supports individual and business account onboarding. Individuals and companies can connect their business account details to their marketplace profiles.

There are no additional Stripe costs for marketplace operators to use Connect Onboarding: this is included in the Stripe processing fees.

This information collected through Connect Onboarding is known as "payout details". You can learn more about how payout details work here.

The rest of this article describes how Stripe Connect Onboarding works to collect the payout details your marketplace needs.

How Connect Onboarding works

When a provider adds or edits their payout details in their account settings, they are first asked to choose their account type and country. After a country is selected, the form will populate fields asking for relevant bank account information respective to the country.

After the details are saved, providers need to verify their information by clicking the "Get verified" button, which redirects to an online form and page hosted at Stripe. This page follows the branding settings you've defined in your Stripe Dashboard. Depending on the provider's country, they may be asked to provide additional information, such as an ID verification.

Providers can also edit their information once it's added by clicking "Edit Stripe account" in their Payout details.

How to enable Connect Onboarding

Connect Onboarding is enabled by default once you set up Stripe for payments in your marketplace.

How to check that my providers verified their accounts

To view the verification status of your providers, navigate to your Stripe dashboardConnect tab, and refer to the "status" column, which displays their verification status.

How to disable Connect Onboarding

It is not possible to disable Connect Onboarding if you want to process payments on your marketplace. Due to Know Your Customer (KYC) obligations in payment processing, Stripe must collect and verify information about any person or entity receiving funds through their service. These requirements come from financial regulators and are intended to prevent financial fraud, such as online money laundering.

You can control when payout details are asked through Connect onboarding. By default, payout details are required before any listing is published. However, you can disable this so that payout details can be added after a listing is published. Disabling this requirement is done when configuring your Listing type's default fields, which you can learn more about here.

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