#Ghiellie
plush steeple
tough pumice
I feel like I'm missing some context here. What's a 'payout vendor'?
lapis nebula
sec let me ask
sorry just being a messenger back and forth here
give me a bit to get a answer
tough pumice
Might be easier if your developers could jump on here
lapis nebula
let me check if thats possible as well
lapis nebula
Vendor/Business/Individual who is expecting payout or transfer of funds from us into his bank account
tough pumice
I assume you're using Connect?
Is there a feature in Stripe wherein it can withdraw funds from my bank account and make payouts?
Sure, depending on the location of your platform account you can enable account top-ups: https://stripe.com/docs/connect/top-ups
Do I need some form of consent from payout vendors before adding them as a Connect Account?
Any users you onboard will agree to Stripe terms during the hosted onboarding process. If you have your own terms you want them to agree/content to then you'd need to account for that in your own application.
lapis nebula
thanks for the info
getting one of the guys to join the chat here
ok he is having some issues getting into his account, I will have him type some messages here
Ok so to clarify, the users on my application have a wallet where they can see all their platform rewards. Which we referred to as 'Application Credits'. Each of these credits are tied in a 1:1 ration with the local currency where the application and its users are based (currently Australia)
Apart from the rewards on the application, we also want to give the user the option to deposit funds into this wallet, basically purchase 'Application Credits', which they can then continue to use on the application to make payments and so on...
So when they 'deposit' into the wallet, we expect that this deposit can be done via Stripe (Using Credit/Debit Card, Apply Pay and Google Pay)
Are we on the same page so far?
tough pumice
To clarify, when you say a user, are they a Stripe account connected to your platform or an end user (customer)?
lapis nebula
end user
tough pumice
Got it, continue 🙂
lapis nebula
But we want to understand from you if they would need to complete some kind of KYC or create a stripe account, ideally via our application.
tough pumice
In order for them just to buy 'application credits'? That's the only interaction they have with your application?
lapis nebula
When it comes to the Wallet part of the application. They can purchase application credits. Use the credits to make payments on the application, and we also want them to have the ability to withdraw those credits.
fallen mica
withdraw them as cash i.e. pay real money to a bank account?
lapis nebula
When it comes to the Wallet part of the application. They can purchase applicati...
Also note here that they will not be allowed to withdraw Credits that they have earned via application rewards. They must only be able to withdraw the 'Application Credits' that they have earned via receiving payments from other users on the app, and/or the 'Application Credits' that they have purchased.
lapis nebula
withdraw them as cash i.e. pay real money to a bank account?
I want to understand what is possible here in this scenario.
fallen mica
you can use Stripe Connect to onboard other people/entities and take payments from customers and split those payments with those entities, so there are technically ways to send money that way
I'd suggest working with our Sales/Support teams instead since also there can be restrictions on the businesses we are able to support when it comes to "stored credit" https://stripe.com/legal/restricted-businesses and those teams would be better placed to discuss. This Discord is for developers to ask specific technical/API questions so we can't really get into architecting a complete solution with you
lapis nebula
I am just digesting your answer give me a moment please
Ok understood. Thank you for your support so far. Been very helpful. Would it be possible for you to connect us to the relevant person(s). Or do we need to reach out separately?
I have sent a request before, but there has been no answer till now from the sales email that stripe has on their website
One more question if you can answer.
We are looking at the available documentation on Stripe.
Would it be wise for us to look at 'Payouts' in the same way as 'Withdrawals'?
fallen mica
a payout is how you move funds from a Stripe account to an external bank account
so that might be what you understand 'withdrawal' to mean yes
lapis nebula
yes
So essentially my application will just tell Stripe to 'payout' a certain amount to a bank account of one of my application's customers.
Would this assumption be right?
fallen mica
at an extremely high level yes
lapis nebula
fair enough
fallen mica
you need to have that amount in a Stripe account's balance first (by charging an end customer and moving funds to a Connect account representing the entity who will recieve the funds, that you previously created and had the user onboard to and complete KYC)
lapis nebula
understood
fallen mica
I'd suggest reading through some of the Connect docs such as https://stripe.com/docs/connect/explore-connect-guide
lapis nebula
So again, assuming here, that Stripe would need to complete some KYC process with my application's customers that want this function yes?
fallen mica
yes