How does Stripe Work?

Stripe works with hundreds of thousand of businesses worldwide and processes billions of dollars a year. Stripe has worked with many kinds of businesses like Facebook, Lyft, Adidas, Target, Unicef, Sā€¦

keith
Updated by keith

Stripe works with hundreds of thousand of businesses worldwide and processes billions of dollars a year. Stripe has worked with many kinds of businesses like Facebook, Lyft, Adidas, Target, Unicef, Shopify and DocuSign to enable payments. In the travel industry specifically, Stripe works with FareHarbor, BookIt, Peek, Xola, Rezgo and many others to enable payments.

When you sign up for PicThrive you will get your own Stripe account. This Stripe account is separate from the Stripe account you set up with your reservation software. It is owned and managed by you and you can use it to connect to other software.

With PicThrive, your online photo/video sales or sales that are made through the tablet app's POS are processed by Stripe. PicThrive does not handle any sensitive information like credit card information as it is all done through Stripe's secure checkout. After a sale has been made, Stripe securely processes it, and automatically splits the funds between you and PicThrive. You will collect 80% of the sale. Stripe will also validate that transaction. Your proceeds from the sale, sans fees, will be held in your Stripe's Pending. After the transaction has been validated, the funds will then transferred to Available within your Stripe account. This can take a couple days. These funds will then be directly deposited into your bank account. You are able to customize the payout time for when funds are deposited. The current default is set to two weeks.

In your Stripe account you are able to export the transaction history into a CSV. It will break down the transaction into the total amount paid, the fee collected. You'll be able to see the payouts to your bank account that have occurred through Stripe.

You can connect your Stripe account to popular accounting software to automate the process. Click this link to learn more.

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