How to accept payment for orders on Brandboom including options such as Stripe Standard (formerly Stripe Direct) and Stripe Express.
When your buyers place orders on Brandboom, you have many options for collecting payment on the platform depending on how the order is placed.
This is the newest payment option on Brandboom (also known as Brandboom Payments). Eligible users will be able to take advantage of features such as:
- Guaranteed payment for orders placed on a marketplace (currently excluding Connect) such as Brandboom Marketplace
- Ability to offer and accept Slope Net 60 payments for eligible buyers for non-marketplace orders
- Taking credit card payments for non-marketplace orders known as Stripe Express Direct (Business users only)
Payments on Brandboom via Stripe Express provides an elevated, more secure experience for sellers. For marketplace and orders using Slope Net 60, using Stripe Express is a mandatory requirement to facilitate payment. For eligibility requirements, please see below.
Stripe Standard (previously labeled as "Stripe" and "Stripe Direct" on Brandboom) allows direct credit card payments, typically used for non-marketplace orders. This is a direct integration with Stripe that is simply a pass-through from Brandboom to your bank account. Some features/important notes are:
- Stripe Express has limited country availability as we scale the feature. Stripe Standard is currently available in a wider selection of countries
- Stripe Standard has less security for both buyers and sellers as there are less verification requirements on both sides
- Stripe Standard will not allow Slope Net 60 payments, or access to Brandboom Marketplace
- As it's purely an integration, Brandboom cannot assist with any disputes for transactions using Stripe Standard
Which one am I eligible for?
To allow us to support as many customers as possible, we introduced both Stripe Standard and Stripe Express options. We have brands and buyers across the world, and each region has its own special requirements. Below is a table explaining the features of Stripe Standard vs. Stripe Express:
|Access to Marketplaces on Brandboom
|Get paid with Slope Net 60
|Get paid on Connect
|Get paid with credit card for non-marketplace orders
|Yes (Business Plan Only)
|Yes (Business Plan Only)
|Available Countries (Sellers)
*What countries are eligible for Stripe Express?
The following countries are currently eligible for Stripe Express. Eligibility means that your company address in Brandboom is listed below, and your bank and other documents we require for verification match that eligible country.
This list will be updated and will expand as soon as practicable. For information on requirements to set up Stripe Express, please review this article.
What if I am not in an eligible country?
You still have access to Stripe Standard! While this currently excludes you from marketplaces or Slope Net 60, you can still accept credit card payments for your orders using our Stripe Standard integration.
If I have Stripe Express, how do I accept credit card payments for my non-marketplace orders?
You will need to go to your 'Orders, Payments, and Integrations' tab in your Brandboom profile, and request access to "Credit Card Checkout". A Brandboom representative will verify some details with you to allow activation. Please note, you are currently required to have a Business Plan to get access to this feature.
I was paid for a non-marketplace order via credit card on Stripe Express. When can I access my money?
When your buyer pays for a non-marketplace/organic order, and you are using Stripe Express to collect the credit card payment, the buyer will generally be charged immediately for the order. This means the funds should be visible and already deposited in your Stripe Express account. However, Brandboom will only release the funds once shipment tracking has been confirmed. This is a security measure for both buyers and sellers. Funds are typically released very shortly after order has been shipped.
If order has been picked up by the buyer or dropped off by the seller, please select "other" under shipment status.
What's the difference between Marketplace and Non-Marketplace orders?
A marketplace order, such as via Brandboom Marketplace, means the buyer is purchasing from you through a specific portal such as this digital marketplace. Typically, this means we assist with finding you new buyers, but sometimes it could be someone who you worked with before, and they have browsed and rediscovered you on this platform.
For Marketplace orders:
- Every order is subject to a marketplace commission fee (please see marketplace for specific rates)
- Brandboom collects payment from the buyer via credit card or Slope Net 60
- Brandboom guarantees payment to sellers after successful delivery. If the buyer doesn't pay, it's not your problem
- Brandboom assists with disputes
Non-marketplace orders are placed with you directly from buyers you know via a share link, or perhaps by yourself or one of your sales reps via our platform or iPad app. You can get paid via:
- Credit Card with Stripe Express or Stripe Standard depending on your eligible region (standard Stripe transaction fees apply)
- Slope Net 60 (requires Stripe Express and will incur a commission fee for the loan)
- Cash, Credit Card using your own external system (i.e. Square, ApparelMagic, Shopify, etc...), Check/Cheque, or any other payment method not provided by Brandboom. As Brandboom is not involved with these payment methods, we are unable to provide any support for these transactions, and you will need to refer to your provider.
What are the limitations of getting paid on Connect?
As the Stripe Express feature is new, it takes time to update our existing product. Whilst Connect is a "marketplace", it works very differently from traditional marketplaces given that it's more of a matchmaking system. You can get paid for Connect orders by creating an invoice for your buyer via Brandboom, then:
1) Using Stripe Standard to charge their credit card, or
2) Using Stripe Express to charge their credit card, or
3) Using Stripe Express to accept Slope Net 60, or
4) Using your own nominated payment methods.
Please note that you will still be charged standard Connect Fees for orders placed on Connect. If you accept Slope Net 60 as an option, you will also be charged our Slope Net 60 commission fee.