Brandboom has multiple ways of helping you capture payments on the platform. Please note, for non-marketplace transactions, Brandboom is not responsible for how you collect payment (i.e. COD, Check/Cheque, etc...).
Understanding Your Payment Options with Brandboom and Stripe
Brandboom offers two Stripe payment options to handle transactions: Stripe Standard and Stripe Express. Here’s a simple breakdown to help you choose the right option(s) for your needs.
Stripe Standard
Use For: Regular transactions with customers in a non-marketplace environment.
What It Does: Allows you to accept credit card and ACH payments
Fees: Stripe’s standard processing fees apply (Brandboom cannot change these rates and is not responsible for these transactions).
NOTE: ACH payment with Stripe cannot be used on deposits.
Stripe Express
Use For: Marketplace transactions.
What It Does: Provides additional security validation required for marketplace environments.
Fees: Based on marketplace rates at the time of sale.
Requirement: Must be used for marketplace participation.
Benefits for Your Buyers
Stripe Link: Buyers can create a universal wallet with Stripe Link. Buyers can also save ACH payment information. (Only used for Non-Marketplace orders)
Convenience: Their card information is stored securely, making checkout faster and more convenient across all vendors using Stripe, including those on Brandboom and other platforms.
By integrating with Stripe, Brandboom ensures a secure and efficient payment process for both you and your buyers.
More About Stripe Express
Stripe Express is a way to receive payments for your marketplace orders. When connected, you can take advantage of benefits such as:
Accept payments from trusted and verified buyers, including credit-worthiness verification
Receive payments typically within 5 - 7 business days after delivery
Support approved marketplace payment flows
Greater protections from buyer fraud and misuse
No need to chase any buyers for payment
Verified status in Brandboom - buyers know that if you have Stripe Express, your account has also been checked and verified.
How do I qualify for Payments on Brandboom using Stripe Express?
To qualify, you must be verified by Brandboom. First, you need to log into your Brandboom seller account, go to your profile icon, and select ‘Get Paid’. You will then need to submit information and sign up for Stripe Express Connect. The process will ask you to submit information about your business, including proof of identity documentation. If you want to prepare before signing up, these are some things you will need:
Business Certificates
Personal IDs
A valid bank account that Stripe Express Connect is able to connect with
After submission, your information will be reviewed by Brandboom, usually within 3-5 business days. Brandboom Payments costs nothing to apply for and have as a feature on your account, so we strongly suggest you apply for it at your earliest convenience.
How do I use Stripe Express for my orders?
There are two ways you could receive an order through Brandboom. We like to refer to them as:
Organic/Non-Marketplace orders - customers that you’ve found or worked with directly, someone who has purchased from you before, a prospect you met at a trade show, through a sales rep, or someone who found you directly. A known customer.
Brandboom Marketplace orders - through select Brandboom or Brandboom Partner Marketplaces, we have found you a new buyer, and they have placed an order through this marketplace service.
For organic orders, use the payment methods and settings supported for your account and checkout configuration.
Stripe Express is a mandatory payment method on select marketplaces within Brandboom. This is because it provides security and trust for both buyers and sellers. This is a layer of protection in a marketplace environment where you may not have worked with this particular buyer before. When you join a marketplace on Brandboom, you will be prompted to accept the terms and conditions of that marketplace, including acceptance of marketplace fees.
Stripe Link offers an “Instant Bank Payments” feature for eligible US banks, allowing buyers to connect their bank account and pay for Marketplace orders directly from their bank balance. This process functions just like a credit card payment, providing a seamless and secure checkout experience.
What are the fees for Stripe Express?
Fees will be outlined depending on the transaction type and the order’s origination. These will be clearly stated before you allow it as a payment option or apply to be part of a Brandboom Marketplace. Please refer to Brandboom’s terms of service for further information.
To learn more about Payments on Brandboom and applicable payment methods, please see the following articles: