Can I pay out my vendors, contractors, or service providers with the funds I collect from Stripe?
Yes! You can can arrange for payment to third parties, anywhere where Stripe is available, using Stripe Connect.
Through Stripe Connect, your platform can interact with both standalone and managed Stripe accounts. The first decision you need to make when using Connect is which type of account you will connect to (though you are welcome to simultaneously interact with both types, if you so choose).
If you decide to support managed Stripe accounts, in which you fully control the relationship with your payees, it’s worth noting that you will be responsible for interacting with your accounts. This includes:
- collecting the information we need to verify the sellers and determine whether the seller can be supported by Stripe, and to make sure they get their money
- building any reporting interfaces for them
- sending any necessary tax reporting
We’ll help you with all of these responsibilities through the various tools that we provide via the API, but you ultimately own the relationship with your sellers.