Stripe Express

What is Stripe?

Stripe is one of the largest and most trusted payment providers in the world, processing over $1 billion in payments. We have previously been using Stripe Connect to process payments in the United States, Canada, and the United Kingdom. Since September 2023, Stripe Express is our exclusive payment system. 

What are some advantages of Stripe Express?

• Reliability and security from one of the largest payment providers in the world.
• New payment options such as Google Pay and Apple Pay. 
• Fast confirmation and processing of payments allow your orders to be processed as quickly as possible.
• More convenience: Refunds to your customers can be issued directly from your GotPhoto admin area.
• Ability to access and manage your Stripe settings directly from your GotPhoto admin area.

How will the Stripe Express migration work? 
You will need to create a new Stripe account. It is a quick and easy process that you can access from the migration notice that you can find on your GotPhoto dashboard.

Once you have clicked the button, you will be directed to Stripe Express to create your account. 

⚠ Important: Even if you already have an existing Stripe account, Stripe Express will require you to set up a new account. However, you can use the email of your choosing to register, including the current one you are using, which also applies to the case where you have multiple GotPhoto accounts.

Please note that any existing Stripe accounts you have will remain unaffected.

Registration takes three minutes, and verification for individuals is just under an hour. For companies, it can take three to five days to complete this verification. However, rest assured that your current photo orders will not be impacted, and you can continue selling images without any disruptions. Your current payment methods will only be disabled after the migration process is complete.

To ensure you receive payouts after the verification process, link your bank account with Stripe and follow all verification process steps. Stripe may request additional verification documents at a later date.

You will receive an email notification from Stripe regarding the specific documents required and the timing of the request. The specific documents and timing will vary depending on various factors, such as the transaction amount, payout frequency, and other relevant considerations.

I started the migration and didn't finish it. Now the information on my dashboard is gone. Where can I finish it? 
You can simply finish the migration under your payment settings (Settings on the top bar → Payment Methods on the left-hand menu). Click "Connect" under your Stripe Express Settings.   

Why is this change introduced now?
The migration window was open for six weeks until the end of August. Historically, this period has, especially the month of August, always seen a very low number of incoming orders. This should allow every photographer to make that switch between the Spring and Fall seasons.

Please note: The change to Stripe Express is required for all GotPhoto customers. 

What are the benefits? 

• This deeper integration with Stripe will not only allow us to add more payment options for your customers, but it is also a foundation for improved tax calculation. 
• The transition to Stripe Express represents a global shift for us. Previously, we relied on various payment processors in different markets. This new integration enables us to allocate our resources more effectively to areas that require our attention.
• It also allows us to implement updates at a faster pace. With the migration to Stripe Express, all your payment-related functions will be consolidated in one place.
• You can access your Stripe account directly through your GotPhoto account. The level of security remains unchanged, ensuring the safety of your transactions.

How can I verify my Stripe Express account?
Safety features are a top priority, and Stripe Express' high-security standards are equivalent to Stripe Connect. Stripe Express accounts need to be verified. Please follow the appropriate link to view the process and documents needed to verify your account: US Customers / Canadian Customers / UK Customers

I have added additional users to my account, and I don't want them to see my GotPhoto balance and Stripe balance on the dashboard.  Is there a way to hide that information from some users? 
Yes, in the User Profile settings (Quick Link: North American Customers / UK Customers), you can disable access to your statistics for these users by unchecking the box for Access to Statistics. They will still be able to issue refunds on the order page, but they won't see any balance on the dashboard nor have access to your statistics and account settings.

How can I indicate a change in my legal status after the migration? 
If you wish to change your legal status from an individual to an organization or vice versa, please directly contact Stripe for assistance. You will retain the same account and all associated funds but must undergo the necessary verification checks to complete the transition correctly.  

What will happen to my old Stripe Connect account?
You can continue to use it for other purposes if needed. This means you will have regular access to it, any funds in it, and all reports from that account. This information will not be migrated to the new Stripe Express account and, as such, cannot be viewed from the new account. All future transaction information will be stored in the new Stripe Express account that you can seamlessly access through your GotPhoto admin area. 

What happens to my current loan through Stripe Capital once I migrate to Stripe Express?
We have created a separate Q&A document specifically for all inquiries about Stripe Capital loans. You can download it here. 

You will be able to receive payments by:

• Credit/debit card 
• Apple Pay 
• Google Pay

Offering Apple and Google Pay is optional for you. Those payment methods are activated by default and can be turned off in your Stripe Express settings ("Modify"). However, we highly recommend activating them as they are the most widely used payment apps.

The availability of these two additional payment methods in your shop depends on your customer's browser and account settings.

PayPal will no longer be supported after August 31st, 2023. In a carefully conducted experiment involving over 30,000 orders, we found that the availability of PayPal as a payment option had no impact on the conversion rate into purchases. Regardless of whether PayPal was available or not, 95% of customers in both groups made a purchase, leading us to conclude that the existing payment mix adequately satisfies customer demand without affecting the order rate or average order value.

Customers who self-migrate by August 31st will benefit from a locked-in promotional percentage for the remainder of the 2023 calendar year. This promotion expires at the end of December 2023.

• The payment service fee will remain a flat fee of $0.30 per order. 
• The volume-based fee per transaction for those benefiting from the promotional period will be 2.8% until the end of December, and starting in January 2024, it will be 2.9% per order.

If you do not self-migrate before August 31st, 2023, your volume-based fee per transaction will be 2.9% per order.

How will I receive my payments?
After the customer pays for their order and the bank releases their money, they will instantly become available on your Stripe account. We will withdraw service and payment fees, which are both paid to GotPhoto directly at the time of payment.  

You can request the payout from the GotPhoto dashboard (Click your user name > navigate to Wallets on the left-hand menu, then click Payout Requests.) There, you can also adjust the payout schedule. You can select between a manual and an automatic payout.

If you select the option manual payout, you can request a full payout whenever there is a positive balance. The minimum amount for a payout is $1.

For automatic payouts, you have full control of the payout schedule. Per default, it will be a weekly payout on Mondays. However, you can adjust it to be monthly (payout day will be the third) or weekly payout (you can select your preferred working day for the payout). The money should be transferred to your bank account within three business days. Your very first payout will usually take a couple of days longer because of Stripe's verification process. There are no additional charges associated with the payout. Once a payment is on the way to you, you will receive a text from Stripe that will notify you about the upcoming payout. Stripe will notify you about your expected payout via text.

Please know that until the payout is completed and the payment is marked as settled, it will be shown as pending on your Stripe dashboard. Pending does not mean that your customer has not yet paid; it means the amount is not yet available for a payout. If you click the payments that are currently processed in your account, it will show you the total of payments that have not yet been paid out and payments that have been sent to your payout account.
 

How will my fees be deducted? 

⚠ Important: Please note that your monthly subscription fee and (if applicable) editing service fees will be charged separately via your credit card. More information on your GotPhoto fees can be found here. 

In North America, your lab will bill you directly for production and shipping fees.
In the UK, GotPhoto will bill your production and shipping fees instead of the lab.

When my monthly fees are due (covering subscription and editing charges), will the amount be deducted from my Stripe balance, or will it be charged to the credit card I have provided on file?
If you have set up the automatic payout schedule, the charge will be processed on the credit card you have on file. We will charge your Stripe balance if you select the manual payout option. However, we will charge your credit card for the full sum if your Stripe balance has insufficient funds.

How will refunds work?
You can refund the order completely or partially using the dashboard. Simply visit the order details page and click the “Refund” button. Please note that you are still liable for any payment or service fees. They will be deducted from your customer's payments even if you later refund the full order amount to the customer.

It can take a few minutes until the order page shows the refund on the order page.

If a partial refund has been applied, the order status will now show as 'Partially refunded.' 

After the refund has been issued, your customer will receive a confirmation email that notifies them about the refund. On your customer's bank statement, the refund amount will show the statement descriptor that you have set up under Payment methods > Stripe Express> Modify.

Please note that the order won't be automatically canceled in GotPhoto if you issue a refund. For an order cancelation, please contact our Customer Care team. 

What about customer payment disputes?  
If a customer disputes a payment, we will hold the payment and charge a non-refundable dispute charge of $15. Once the dispute is resolved and proven incorrect, the order payment will be credited back to your account.  

My customer received an error note when attempting to pay with their credit card. 
Your customer will see the reason why the card payment failed. Here, you can find an overview of all possible errors that can occur. 

In addition to all the reports and statistics available in your GotPhoto account, you will have access to your Stripe Dashboard.

There, you can view your earnings statistics, track payouts, and adjust settings related to your verification documents and bank accounts. If you already used Stripe in the past, this will all look familiar to you. 

Stripe Dashboard also includes a link to Stripe's helpdesk, where you find detailed help articles.

You can find your notifications under one quick view:

Under the user icon, you have the option to review your account, payout, and platform settings:

On my GotPhoto dashboard, I can see my current balance. What do Stripe Express and GotPhoto balance mean here? And why do the amounts change so frequently? 

• Current Stripe Express balance: These funds in your Stripe Express account are available for a payout.
• Current Balance GotPhoto: You earned this amount recently, but it’s not yet deposited in your GotPhoto account. It's important to understand that this is a rolling balance. The rolling balance in this context refers to the continuously changing balance in your account. It can be both positive and negative depending on various factors. Here's an explanation:

Positive Balance: A positive balance can result from several scenarios, including:

• Overpayments of fees: If you paid more in fees than you owe, the excess amount is reflected as a positive balance.
• Refunds for issues: If refunds are processed for any reason, they can contribute to a positive balance. 
• Manual pay-ins: When users manually add funds to their accounts, it increases their balance.
   

Negative Balance: On the other hand, a negative balance can occur for reasons like:

• Pending Billables: Fees or charges may accumulate in the account balance before they are invoiced or billed (e.g., editing service fees). This can temporarily lead to a negative balance.
• Ongoing Transactions: The balance can change frequently due to ongoing transactions, payouts, payments, and fees.

It's important to note that the GotPhoto balance shown in your dashboard is not the same as the Stripe balance. Billing and invoicing are handled via the GotPhoto balance, which can fluctuate as transactions occur. You may see these changes more frequently in your GotPhoto balance if you were used to our previous dashboard view, where these ongoing transactions were not shown in GotPhoto if you used your previous Stripe account, which was not integrated on that same level with GotPhoto. 

In summary, the rolling balance can be positive or negative based on various financial activities and transactions within the platform, and it is part of the system's features to provide users with a real-time view of their account's financial status.

What kind of reports are available to me?

In addition to the various reporting options already available in the dashboard, we are adding new reports that pull data from your Stripe account. These reports can be found in Gotphoto under the Financial Reports section of the Your Account section of the dashboard (Quick Link: North American Customers / UK Customers).

Please note: Reports are available with a 2-business day buffer. This means you can only access a report for an order if more than two business days have passed since the order was placed. 

They can be used to reconcile your payments with orders and gain insights into your cash flow, among other things. If you want to learn more about the available exports, please refer to his article Stripe Express Reports.

Right-click the image below and select "Open in a new tab" for some additional guidance on choosing the appropriate export option.

Can I change the statement descriptor shown on my customers' bank and credit card statements? 

Yes, you can change it in GotPhoto, under your payment methods (Quick Link: North American Customers / UK Customers). In your Stripe area, click the blue Modify button, and you'll find the option to customize the name.

Is there a way to grant more people access to my Stripe Express dashboard? 

Yes, on your Stripe dashboard, navigate to the user icon on the top right, then to your platform settings. There you will find the option to add additional users. Learn more here.

Do I have the option to send an invoice or request payments via my Stripe Express dashboard? 

No, currently those two options are not available on your Stripe Express Account. Alternatively, you can use your other regular Stripe account if available for this purpose. 

Will this affect API access to Stripe?

Unfortunately, access to your Stripe account via API will no longer be possible. However, there is a possibility of reconsideration in the future, depending on the support provided by Stripe. Please know that this doesn't impact API access to your GotPhoto account, only Stripe.

What happens if I don't migrate by August 31?

To continue receiving payments through our shop, you must migrate and open a new Stripe Express account before September 1st. That also applies to orders placed before August 31, but where the payment is still open. 

We encourage all customers to migrate no later than August 31, 2023, and take advantage of the lower promotional rate during the Fall season. You can still create a Stripe Express account after August 31 to use within GotPhoto. Just be aware that if you switch after September 1st, your customers will experience a shop interruption until you have proceeded with the migration. 

Webinar Recordings

Here you can view the recordings of our two Stripe webinars focused on Stripe Express, during which we addressed your questions. 

Stripe Q&A #1 07/21/2023

Stripe Q&A #2 08/22/2023