Stripe Connect integration
The Stripe Connect integration is a payment solution for marketplaces to automatically pay their vendors.
Whenever the marketplace needs to pay its vendors, Garnet will initiate a Stripe payment from the marketplace account to the vendor account.
The payout events can be customised within Garnet to suit your marketplace needs.
Note that Garnet only facilitates the payment and is never holding the customer's money at any time.
Stripe is not available in some countries, make sure to check their availability page.
When customers buy products and services on a marketplace, the marketplace collects the payment. After a set number of dats, the marketplace pays back the vendor's order minus the commission taken by the marketplace.
Garnet's integration with Stripe Connect automated the payout from the marketplace to vendors. When Garnet initiates the payment, the money will end up in the vendor's bank account minus a transfer fee taken by Stripe. Check Stripe's pricing page for more details.
Note that the marketplace and the vendors need a Stripe account to use Stripe Connect.
Step 1: Create a Stripe Account and get verified
The marketplace must create a Stripe account following the registration link. After replying to all questions you will need to get verified. It can take a few days and require you to send additional verification documents.
Step 2: Enable Stripe Connect
Setup Stripe Connect for the marketplace account by going to
Stripe > Settings > Explore > Connect or clicking on this link. Then click on the
Get started with Connect button.
You will have several questions to answer about your business. If you have any question you can contact us. It might take a few days for the account to be verified.
Step 3: Set your branding
It is important that you set up your logo and theme color in Stripe. Go to
Stripe > Settings > Branding or click on this link.
Step 4: Generate a Stripe API key
Then go to
Stripe > Developpers > API keys and copy the
Secret key, you will need it later for the setup.
The API key starts with
Step 5: Request access on Garnet
On Garnet, go to
Admin panel > Payment > Stripe Connect and input your credentials in the form. Our team will get back to you within 5 working days.