Setting Up Multiple Stripe Accounts: What They Are and How to Get Started

1. Multiple Stripe Account: What is it and How to Set it up? As an e-commerce store owner, do you want to equip your online store with easy payment processing? Stripe is one of the best payment gateways being capitalized by millions of enterprises. With Stripe, you can accept payments globally and also increase the chances of maximizing conversions. Now, if you have a single e-commerce store, it’s enough to have one Stripe account for seamless payment processing. But what if you have more than one online store? In such a case, should you stick to one Stripe account or set up Woocommerce multiple stripe accounts? In this article, you will learn what a multiple stripe account is, why you need it, and how to set it up. What is a Multiple Stripe Account? Stripe offers some exceptional features to the users to make payment transactions smoother. Among these features is the multi-account attribute that allows Stripe end-users to create multiple Stripe accounts using the same email address from a single Stripe dashboard.

2. With this feature, you can create a single Stripe account and provide access to multiple individuals or set up multiple accounts and connect them with your primary Stripe account. You can easily switch between different Stripe accounts whenever needed. Why Do You Need Multiple Stripe Accounts? If you are not sure as to why you should create more than one Stripe account, here are a few key reasons: ● Sorted tax and legal-related information Paying taxes and complying with critical legal formalities is an integral part of running an offline or online business. But when you have multiple e-commerce businesses to operate, managing taxation and legalities can become too confusing and cumbersome. Multiple Stripe accounts allow you to have one account and a unified tax ID for a single business. This way, you can efficiently process taxes for different businesses with a unique tax ID. Moreover, data will be fetched and processed automatically. ● Accurate reporting Multiple accounts with Stripe result in accurate reporting as data from different businesses will be processed and analyzed at a separate level. In addition to creating various stripe accounts, equipping your e-commerce stores with a relevant Magento Marketplace Extension can help create accurate reports. ● Quick and accurate bank payouts By creating multiple Stripe accounts and integrating PayTrace Payment Gateway Magento 2, you can sort the bank payouts. Every Stripe account will have a different payout facility, leading to quick and accurate bank payouts. How to Set Up Multiple Stripe Accounts? You can easily set up multiple Stripe accounts from a single dashboard by following these simple steps: 1. Log into your existing Stripe account. 2. You can see your Stripe account name in the upper-left corner. Click on it. 3. Next, tap on the New Account button. 4. Give a new account name.

3. 5. You can see the Activate option on your Stripe account. In this section, provide your account and bank account details. 6. The new Stripe account will be created. Conclusion It’s common to run multiple e-commerce businesses in this technologically and digitally advanced age. However, it’s not common to experience data duplication, statement inaccuracies, or payment processing issues. leveraging Progressive Web Apps Extension Magento 2 can sort out a lot of things. Contact Us Creating multiple Stripe accounts and Company Name: Elsner Technologies Pvt Ltd. Address: 3405 Pennsylvania Common, Fremont, CA 94536 USA Phone(s) : 16075244040 Email id: sales@elsner.com Website: https://store.elsner.com/