Bonanza Makes Stripe Available to All Sellers

Hi Bonanzlers. Shelly here. I am the seller happiness manager at Bonanza. This means I gather feedback from you, our sellers, about what you need from Bonanza and then I work closely with our designers and developers behind the scenes to make it happen. 

Stripe is now available to all sellers! 

We are very excited to be able to finally activate this option as it took us a bit more time than we anticipated. Stripe is a payments platform that provides smooth solutions for businesses of all sizes, giving buyers a choice besides PayPal on how to pay for their purchase. 

Buyers want options

Providing more payment options to buyers often invites a higher rate of conversion. We also know how important it is to allow buyers to check out easily with a debit or credit card. And we heard loud and clear from you, that you wanted Stripe to be available to all of our sellers and not just those with a paid membership subscription. Taking into account all this valuable feedback, our way forward was clear, and we can’t wait for you to try it out.

Where do I sign up?

You can create a Stripe account by visiting  your Payments & Purchases settings. If you’re already using Stripe on other platforms, even better — you can connect your existing account and manage payments from Bonanza sales directly on Stripe.  New sellers joining Bonanza will be able to opt-in during the booth activation process. Sellers must also have PayPal payments enabled in their Bonanza booth in order to accept Stripe.

Once your account has been connected and verified by Stripe, you’ll be all set to accept payments. Buyers will see it as an option to simply "Pay with Card" at checkout, along with the PayPal option.

How much is it?

Stripe will charge an initial fee of 2.9% + $0.30 per transaction, similar to what you pay on PayPal. There are no additional fees from Bonanza, aside from the final value fees you’re familiar with, which will be billed as usual — nothing about the Bonanza billing process will change.  

When you receive your first Stripe payment, there will be about a 7-day verification window while they confirm your bank details before payout. For subsequent payments, US sellers will be paid out on a rolling 2-day schedule, so you’ll never be waiting long for those funds to arrive at your bank. International payout schedules vary by country, so we recommend reviewing their documentation to confirm the schedule for your region. 

In the event you need to issue a refund or manage a dispute, you can do that directly from Stripe’s dashboard. Here are a couple more resources in this area:

• Refunds: https://stripe.com/docs/refunds
• Disputes: https://stripe.com/docs/disputes

Can anyone use it?

Stripe is available to sellers based in over 20 countries and can process payments from a variety of payment methods like Visa, Mastercard, American Express, and more. Buyers can pay with any supported currency, and Stripe will convert the funds to your currency. You can review supported regions or sign up to be notified when your country is available.  

Please visit our help documentation or reach out to our award-winning support team with any additional questions, concerns, or feedback as you give Stripe a try. 

We’re so happy to complete your request for Stripe for all sellers. I’m already coordinating your other requests, evaluating which of your ideas we can work on next!