If you chose to enable Stripe in your marketplace, you'll then be able to collect a commission, providers will be able to receive money in their bank account, and buyers will be able to pay by credit card.
To get it working, you'll need a free Stripe account, configure a few settings in your Stripe Dashboard, get your API keys from Stripe, and add them to your marketplace Admin panel.
Follow the instructions closely and it will work smoothly!
1 - Create and confirm your free Stripe account
Creating a Stripe account is free and you can delete it anytime. If you already have a Stripe account (for another project), it's better to create a new one to avoid any interference.
Note that right now, once you have configured your Stripe account in your Sharetribe marketplace, you won't be able to change it to another one. You can always update all details (bank account, account name...) in your Stripe dashboard but using another new account later isn't possible for the time being.
To create your Stripe account:
Fill in the required fields, then create your Stripe account
Great! You can skip the first question by clicking "Skip for now" and you now have to confirm your Stripe email to confirm your account.
2 - Confirm your Stripe account
To confirm your Stripe email and account:
Check your email inbox and look for a confirmation email sent from Stripe (by firstname.lastname@example.org) named Confirm your Stripe email address!
Click the confirmation link in this email and log in with your credentials
Yeah! Your Stripe account is now confirmed. You should now activate it to be able to receive money via this Stripe account.
3 - Activate your Stripe account
As you will receive money from your users via your Stripe account, you have to provide some details such as your address and your bank account. This data is secured by Stripe and won't be shared with anyone.
To activate your Stripe account:
Log in to your Stripe account and click the Activate your account link in the top menu.
Complete all the fields according to the instructions and set Your website to your Sharetribe marketplace address when asked.
It's OK to activate your account as an individual, you don't need a company ID. For example, in the US, it's okay to use your personal name and SSN in place of an EIN. You can read more about signing up without a tax ID or employer ID number from Stripe here.
The activation form varies based on your country, so select that first!
Once completed, click "Activate account".
Your Stripe account may still need to be reviewed by Stripe. It's automatic, and it should be a very quick process. You may need to provide additional information in order to verify your identity if a red banner appears on your Stripe dashboard.
Once the review is completed, your dashboard will say "Your account is now active".
Good job! Now you need to enable Connect in your platform so your sellers can add their bank details in their settings.
4 - Enable Stripe Connect and Stripe Connect Onboarding on your platform
Sharetribe uses the Stripe Connect features with Custom Accounts. These enable your sellers to process transactions through your marketplace while you earn a commission. These next steps describe how to enable Stripe Connect.
This step is important: without this step, providers will not be able to receive money and buyers will not be able to start any transaction.
To enable Stripe Connect:
Answer "Platform or marketplace" when prompted about the type of integration you would like to build. Your integration is already included with your Go marketplace, but Stripe still needs this information to learn more about your business
At this point, Stripe may have to review your account. If that's the case, you can learn more about this process here.
After a few seconds, or after the review process, you should see your Connect dashboard. From the top bar, go to Settings (the gear icon) then Settings under the Connect heading.
Make sure that Custom is enabled in the Account types section then click on "Manage" for Custom
There should be a blue tick next to "Custom", as shown in the screenshot below
If you see a message on this screen that your platform profile needs to be completed, click "Start" on the notification and provide the additional information required. You can learn more about the verification process here.
Turn on "Allow Stripe to collect bank account information of authenticated users" with the toggle, then save
If you don't complete that step, sellers in your marketplace will not be able to add their payment details!
Back on the https://dashboard.stripe.com/settings/connect page, scroll down to the "Branding" section. There, add your marketplace and business name, its logo and icon, and its colors. Then save.
This will be used to brand the online form your sellers will use to add their payment details.
Great, Stripe is configured! You now have to get your API keys and input them into your marketplace.
5 - Get your API keys from Stripe and add them to your Sharetribe marketplace
API keys are some text strings that have one technical purpose: link your Sharetribe marketplace with your Stripe account, so you can manage payments in your marketplace.
First, get your API keys from Stripe:
Make sure that you are not using test data. If this is the case, switch the View test data toggle. Test API keys will not work in your Sharetribe marketplace.
Copy the value from the Publishable key row, from the Token column. It should look like
Paste that value in your Sharetribe marketplace Admin panel, in the "Payment system / Stripe settings" page, in the "Stripe Publishable Key" field.
Go back to your Stripe account, in the API tab and click the Reveal live key token button.
A new window will pop up with the secret key. Note: You won't be able to see the key again after this. Make sure you copy it and save it somewhere safe and private.
Copy the value of the Secret key. It should look like sk_live_somelongrandomvaluelike0Rx3jvetc
Paste that value in your Sharetribe marketplace Admin panel, in the "Payment system / Stripe settings" page, in the "Stripe Secret Key" field.
In your Sharetribe marketplace, save
Stripe should now be connected and confirmation should appear.
That's it! You have now connected your Stripe account and are ready to receive payments in your marketplace!
You now have to set your commission and possibly add a minimum commission.