Create Affiliate Program
An affiliate program is an agreement in which your business pays another business or influencer ('the affiliate') a commission for sending traffic and sales their way.
Activating an Affiliate
Connecting the Affiliate to Stripe
To connect an affiliate to Stripe, you have to create and share an invite link with the affiliate by completing the following steps:
Click on “Connected Accounts” in the left panel of your stripe dashboard and click on “Create” to create a new invite link
Is it recommended to select “Express - Select your Country and click Continue
You might need to adjust a few of your settings before being able to click Continue - Navigate to your Settings
Stripe has determined some basic recommendations for creating connected accounts, for your users to receive funds on your platform. These recommended settings can be found here.
Click Create if you had to make modifications to your settings and click Continue after selecting Express
Copy the link and share it with the affiliate so that they can follow the steps to connect to stripe.
Once copied and shared, you can select Done.
The affiliate will copy and paste the link to a new browser. The affiliate will be taken through the following steps to provide all necessary information about their entity, such as SSN, Name, Nature of business, and Bank account info.
Provide the name of your Company or Individual along with the phone number and email address
A verification code will be sent to your phone number provided.
Fill out pertinent information and click Continue.
Once done, you will be able to access a Dashboard in Stripe and create settings for your payouts
Fetch Affiliate's Stripe Account
Once the affiliate has created their stripe account, they will display under Connected Accounts, along with the Status of their application.
Once it has a Status of Complete, open that record and copy the Account ID
Creating Affiliate Promo Code
Once an affiliate's account is connected to Stripe, you can create a promo code for them to use in the OMS.
Click on "Promotions" in the left navigation panel and click on "New Promotion."
Click here to see a Video of a Promotion example
Name = Name of the promotion (this is not the code you will provide, just the name of your promotion)
Category = “Affiliate Program”
Single Promo Code = Create your promo code, for example, "TestCode20."
Discount Rule = “Affiliate”
Enter the email address of your affiliate user, the one you created above, in the Activating an Affiliate section.
Paste the Stripe Account Key for the connected account.
Enter the promo code you just created (in the above example ) during the checkout process on your website
At checkout, enter the Promo Code created above in the video (testcode20)
you will get an automatic discount of 20% (or whatever the rule you've chosen), and the affiliate will have a 10% commission, as displayed below in Stripe.
By default, Stripe automatically creates payouts of your available account balance based on the schedule specified in the Dashboard. The schedule depends on your country and whether your business operates in a higher-risk industry.
When a payment is first received, it’s initially reflected as a pending balance (less any Stripe fees). This balance becomes available according to your payout schedule. For instance, it takes seven calendar days from a payment being received to it being paid out for Stripe accounts on a 7 calendar day schedule.
Most banks deposit payouts into your bank account as soon as they receive them, though some may take a few extra days to make them available. To edit the payout navigate to your Connected Account and click on the specific account.
Click Edit payout schedule
And create your own schedule