How to Set Up Stripe Payouts in CollabPay

Published on 1 December 2022
Updated 6 January 2023
How to Set Up Stripe Payouts
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Jason Clarke
Table of Contents

Requirements

Shopify users

You can only instantly fund a Stripe Connect account if you are in the U.S.

You may be able to fund it using a bank card if you are outside of the U.S., but it may take up to 1 week for the funds to be released and usable in the Stripe account. Learn more about Stripe funding to see if it works for you.

You cannot use your Shopify Payments account with CollabPay. This is because it is locked, and you are not allowed access to it.

WooCommerce users

If you have a Stripe gateway using WooCommerce, you will be able to use the same account to connect to CollabPay.

This will use the funds inside of your Stripe account to pay your Collaborators.

About payouts in CollabPay

CollabPay has two methods available to pay your Collaborators automatically:

  • PayPal
  • Stripe

Setting up Stripe and PayPal in CollabPay has nothing to do with your Shopify payment gateways (checkout methods) in your store. It’s completely separate and does not affect your store’s checkout gateway options.

Shopify users & Stripe account

If you are on Shopify, you will need to set up a new Stripe Connect account to enable Stripe payouts on CollabPay. This will allow Collaborators to link up to your Stripe Connect account and get paid easily.

WooCommerce users & Stripe account

If you are using WooCommerce, you can use the same Stripe account that you use for your payment gateway.

This new Stripe account can use funds from your bank account. It takes money from your bank and pays it to your Collaborators Stripe account.

Please note that Stripe is not available in all countries. Please visit Stripe’s country page to check if it is available for you.

Can I use both to pay out my Collaborators?

Yes, you can set up both options on your account. The Collaborator will need to choose which one to be paid out with when they set up their account.

How to set up

Step 1 – Set up a Stripe Connect account

Simply set up your Stripe account.

Step 2 – Add your branding

This is a crucial step for Stripe to connect to CollabPay. If this is not set up, then your Collaborator will not be able to create a Stripe account linked to yours.

If you miss this while signing up to Stripe, you can find the branding settings by:

  1. Going to “Settings” (cog icon) in the top-right
  2. Under the “Connect” section, click “Settings
stripe branding
  1. Scroll down to “Branding
  2. Add a business name and upload your logo to the “Icon”
  3. Save the changes
branding section in connect

Step 3 – Get the API keys

  1. Go to your Stripe dashboard
  2. Click on “Developers” > “API keys
  3. Prepare the API keys – The Publishable key and the Secret key. (You will need to copy these over to CollabPay in the next step)
stripe connect

Step 4 – Paste the API keys into CollabPay

  1. Go to your CollabPay account (make sure you are logged into the Store owner account, not a Collaborator account)
  2. Go to “Settings
  3. Go to “Sending payments
sending payments
  1. One at a time, copy the Publishable key and the Secret key from Stripe, then paste them into the boxes on the Stripe page in CollabPay, then click “Save”

Step 5 – Inform the Collaborator to connect to your Stripe

The store owner (you) must do the following before Collaborators are able to set up Stripe:

  • Set up Stripe on your Store owner account (add your branding to Stripe, look above)
  • Must have assigned the Collaborator to earn from products

Once you have done the above, the Collaborator can follow these steps:

  1. Go to CollabPay and log into your Collaborator account
  2. Go to “Settings
  3. Go to “Payouts” > “Receiving payments
  4. The Stripe box will only show if the store owner has set up Stripe Payouts and assigned the Collaborator to products. If they haven’t, it will not show.
  5. Click the “Set up Stripe” button
    • If an error page appears, this is because the branding has not been set up in the Store owner’s Stripe account.
  6. Follow the next steps in applying for a Stripe account
stripe setup

Stripe payment fees

Fees vary depending on what country you are based in and if you are doing cross-border transactions.

  • For the USA, There is a US$0.25 + 0.25% fee for paying your Collaborators using Stripe.
  • For the UK, there is a 10p + 0.25% fee for paying your Collaborators using Stripe.

Please visit the Stripe Payouts pricing page to understand costs in your country.

stripe pricing

How do I access my Stripe account?

As a Collaborator

This will only show if you have set up Stripe already. The only way to access the Stripe dashboard as a Collaborator is by logging in via your CollabPay account.

Learn how to set up Stripe as a collaborator to receive funds.

  1. Go to CollabPay
  2. Go to “Settings
  3. Go to “Payouts
  4. Go to “Receiving payments
  5. Click “View Stripe dashboard

As a Store owner

You can log into your Stripe account by finding your sign-up details when you signed up to Stripe and then going to stripe.com.

Avatar for Jason Clarke
Jason Clarke