Difference between stripe connect standard and stripe connect custom account

Himanshu Dangwal

Published on - 11-04-17 07:55pm

 

Q. What is stripe connect?

Ans. Stripe connect is solution for multiple payment or parallel payment if you own a marketplace.

 

Q. How does stripe make multiple payments?

Ans. It asks customer to enter it's card details and then via stripe api stripe splits money among connected vendors.

 

Q. Why are there 2 different mode of stripe connect and what do they do?

Ans. Stripe connect have two types of vendor account first one is standalone and second is managed accounts. In standalone vendor can connect to admin's stripe platform via his own stripe account, this way vendor can anytime withdraw his money from stripe whenever he wants. While on the other hand stripe managed vendor is asked only to enter his/her business details and bank details, then every thing depends on admin i.e withdrawal, refund and all other features on stripe.

 

Q. In CS-CART how can we use stripe connect standalone?

Ans. To use stripe connect standalone account in cs-cart you can buy stripe connect standalone account . After buying you can configure it by watching this blog (blog-link), (Demo link).

 

Q. In CS-CART how can we use stripe connect managed?

Ans. To use stripe connect managed account in cs-cart you can buy stripe connect managed account . After buying you can configure it by watching this blog (blog-link), (Demo link).

 

 

 

 

 

 

 

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