Whop Payments is our exciting new feature making it even easier for sellers to get paid for whatever digital product you’re selling! This article will go over how to sign up for Whop Payments and everything there is to know about it. Let's get started!
To process card payments and payout businesses, we have partnered with Stripe to verify your personal and business information. Don't worry, I know what you are thinking!! I thought Whop Payments didn’t need me to sign up for Stripe?? This process is not to sign you up for a Stripe account, it's simply used to get to know you and your business.
- Navigate to your Payouts page to get started.
- Click on Set up Whop Payments.
- Select your business location.
- Click on Next to continue.
Again, don't worry, being directed to Stripe's signup page is totally normal! We use their services to help us verify your identity and make sure you are who you say you are.
Once you have completed the flow on Stripe, you will be redirected back to your payouts page and nothing further will be needed from you. You can start processing payments immediately after sign up and please reach out to our support team if you have any questions.
With the addition of Whop Payments comes our own internal monitoring system.
Receiving a notification from us via email and seeing this yellow banner is nothing to worry about and is only a routine checkup on your business.
Each one of our sellers will eventually be manually vetted by our team to make sure they are not breaking our Terms of Service or committing fraudulent activity.
The process is very simple and it's unlikely you will even know we were there at all! Our Trust & Safety team will be looking into your product offerings, customers, payments, disputes, and resolution center cases to make sure everything is running smoothly.
If you ever have any questions about the process, our team would be happy to help. Feel free to reach out to our support team anytime.
If I switch to Whop Payments, what happens to my existing customers?
- All existing customers will remain on the previously used payout account. All new customers will be processed through Whop Payments.
Why am I getting directed to Stripe to setup Whop Payments?
- Stripe offers an automated Know Your Customer (KYC) system. This system allows us to confirm the identity and verify the legitimacy of applicants.
What countries does Whop Payments support?
- Any seller from any country can apply for Whop Payments.
Can we migrate subscriptions from Whop Payments?
- No, you cannot migrate subscriptions from Whop Payments. In the future, we plan on adding the ability to do this.
Can we migrate subscriptions to Whop Payments?
- Yes, you can migrate subscriptions to Whop Payments from an Express account.
- Reach out to our support team to request the migration.
Can we migrate subscriptions to another Whop Payments account?
- No, you cannot migrate subscriptions between Whop Payments. In the future, we plan on adding the ability to do this.
Can customers dispute transactions on Whop Payments?
- Yes, customers can still dispute payments with their bank. They will appear in your Disputes section of the payments page.
Can a Whop Payment account be suspended? In what conditions?
- Yes, Whop Payment accounts can be suspended. Any seller violating our policies or Terms of Service is subject to a removal or suspension of their account.
Are Whop payments completely separated from Stripe? Does Whop help at all with accounting/tax related activities?
- Yes, Whop Payments is completely separate from Stripe. Using Whop Payments automatically selects Whop as your Merchant of Record.
- Learn more about Whop being your Merchant of Record here.
Are there any changes to fees and disputes?
- Yes, please see our fees doc for the changes. Each dispute will accrue a minimum $15.00 fee charge.
What’s the payout schedule for Whop payments?
- Sellers can choose between Monthly, Weekly, or Manual payouts:
- Monthly allows the seller to choose the specific day of each month they would like to receive a payout.
- Weekly allows the seller to choose the specific day of each week they would like to receive a payout.
- Manual allows the seller to initiate a payout immediately.
What is Whop’s dispute threshold for with-holding funds / shutting down an account on Whop Payments?
- A dispute rate greater than or equal to 0.70% will trigger an automatic withholding of your funds while we manually vet your account. The vetting process typically takes less than 24 hours and you will be notified by email when it's completed.
If I'm banned from using Stripe, can I still sign up for Whop Payments?
- Yes, any seller that has been banned or disabled from using Stripe can use Whop Payments.
