Selling
Set up payouts
Every seller on Phyrne has their own Stripe Connect account. This is the one bit of paperwork in the whole platform, and after it the money simply arrives.
15 min
4 steps
The walk
4 steps
-
Start it from your storefront
The shop cannot publish until payouts exist, so it asks, and first which country you are paid in: the one you live in, or where your business is registered. Stripe opens your account there and cannot move it later. Have a bank account and some form of identity document to hand. -
Tell Stripe who you are
An individual or a business, a legal name, an address, a date of birth, and whatever else your country requires. Phyrne never sees your documents or your bank details. -
Let Stripe pay you out
Stripe sends what you have earned to your bank on its own schedule, and every payout it sends is listed on your payouts screen with its amount and the day it arrived. -
Check the first order's maths
Every order shows the price, Phyrne's fee — our 8% with Stripe's processing folded in — and your net. Look at it once on the first sale so the number never surprises you again.
Good to know
- Do it before you list anything. A shop that cannot take a payment is a shop that will find out on a Friday.
- Phyrne never sees your bank details or your documents — those go to Stripe, which is the point of doing it this way.
What to expect
The first few payments take a little longer
Stripe holds the earliest payments of a new account slightly longer while it settles, which is a Stripe rule and is stated when you set up. After that, money follows Stripe's schedule.
Tax forms are issued by Stripe from the details you already gave, and every payout is on your payouts screen, which your accountant will like more than you do.
Questions, answered
Do I need a registered business?
No. Stripe can pay an individual in each of the sixteen countries we pay out in, and asks for whatever that country requires.
Which countries can I be paid in?
Sixteen: the United States, Canada, the United Kingdom, Ireland, Austria, Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Portugal, Spain and Sweden. Stripe opens your account in the one you choose, for good.
Can I change my bank account later?
Yes, from your Stripe account. Payouts follow the new one from the next cycle.
What happens if a payout fails?
Stripe tells you and retries. Nothing is lost; it usually means a digit in the account number.
Get the paperwork over with
Fifteen minutes now beats a sale you cannot take on a Friday afternoon.