When you set up a photo contest fundraiser with us, we'll have you create a merchant account with our payment processor, Stripe (https://stripe.com/).
Why do I need to set up an account with Stripe?
An account with Stripe allows all of the donations to your contest to be processed right at your contest site. Participants can use almost any kind of credit or debit card:
- U.S. businesses can accept Visa, MasterCard, American Express, JCB, Discover, and Diners Club.
- Australian, Canadian, and European businesses can accept Visa, MasterCard, and American Express.
You can also accept gift and prepaid cards that are one of the above types. (https://support.stripe.com/questions/which-cards-and-payment-types-can-i-accept-with-stripe)
How does it work?
The donations that are processed at your contest site are deposited directly into your Stripe account, minus our contest transaction fees and credit card processing fees (http://www.gogophotocontest.com/pricing).
These deposits are then bundled and deposited into the bank account that you provided to Stripe on a rolling 2-day basis. This means that you will have access to the funds that your contest raises almost immediately.
You can read more about how this process works right at this link: https://stripe.com/docs/payouts
Where Can I Find Information About Payouts From Stripe?
First, you will need to log into your Stripe account (https://dashboard.stripe.com/login)
Then, navigate to Payouts on the left-hand side of the dashboard:
Or, navigate to this link: https://dashboard.stripe.com/payouts/overview
How Can I Change the Frequency of My Payouts?
Click "Settings" at the top of the Payout dashboard: