description Stripe Connect API Overview
For building multi-vendor marketplaces, Stripe Connect is essential. It handles the complex legal and financial plumbing of splitting payments between a platform and its connected users (connected accounts). It automates KYC/AML compliance checks and manages payouts, drastically reducing the operational overhead for platform owners building marketplaces.
help Stripe Connect API FAQ
What is Stripe Connect used for?
Stripe Connect is specifically designed for building multi-vendor platforms and marketplaces that need to split payments among multiple parties. It handles the complex financial and legal plumbing required to route funds to connected accounts while taking a platform fee.
Does Stripe Connect handle KYC and AML compliance?
Yes, Stripe Connect completely automates the required Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance checks for your users. This drastically reduces the liability and administrative burden on the platform when onboarding new sellers.
What is the difference between Standard and Custom connected accounts in Stripe?
Standard accounts are controlled directly by the connected user, who logs into Stripe directly, whereas Custom accounts are completely invisible to the user and controlled via the platform's API. Express accounts sit in the middle, allowing the platform to handle onboarding while Stripe manages the hosted dashboard.
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