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  3. How does the Stripe payment flow work?
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  3. How does the Stripe payment flow work?

How does the Stripe payment flow work?

Transactions going through Stripe follow a few steps, from accepting the request to the payment and reviews. Here’s a complete description:

  1. The location owner creates a location listing on MisterLocation and defines a price for the product or service.
  2. The location user opens the listing page, selects relevant dates or number of hours and clicks on the “Book” button.
  3. On the following page, the location user reviews the details of the purchase and inputs their credit/debit card details. The payment happens immediately.
  4. Once the payment is done, the location user is taken to a page that displays the transaction details. They are told that the location owner needs to accept the transaction before the money is transferred.
  5. The location owner gets an email notification of a new transaction that needs to be accepted. If the transaction is not accepted within 3 days or before the end date (whatever comes first), the transaction is canceled and no money is transferred. Once accepted, the money is captured from the location user’s card and funds are put on hold. Both parties get a receipt of the transaction via email.
  6. Both users can then discuss freely to agree on details.
  7. Stripe transfers the money from the Stripe balance to the location owner’s bank account. Stripe takes about 7 days to move the money.
  8. The order is automatically being marked as completed (directly after the transaction). Stripe transfers the money from the Stripe balance directly to your Stripe account after a transaction has been completed. Stripe takes about 7 days to move the money from your Stripe account to your bank account.
  9. Users can then review each other.

 

Updated on May 3, 2018

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