Stripe is an international payment service provider and payment processor for online and app-based businesses.
Additionally, Stripe handles the technical processing of payments as well as security and compliance aspects (e.g. data protection, EU requirements).
When a customer pays on Letzshop, the amount is initially blocked by Stripe on the customer’s account but not yet paid out.
After the order is received, the retailer has 7 days to confirm the order in the retailer portal.
Only once this confirmation is made is the amount actually charged to the customer.
We allow one week for the retailer to prepare the package and for delivery to take place.
For online purchases, the customer has a legal right to return products within 14 days.
Only a few products, such as food items, hygiene products, personalized items, etc., are excluded from this right – however, these exceptions are not considered in our payout process.
After delivery time and return period have passed – in total 3 weeks after the retailer’s confirmation of the order – the payout takes place.
Stripe transfers the money on the following Monday to the retailer’s bank account.
On the bank statement, the payment appears under the name “Stripe”.
Please check whether your Stripe account is still up to date and correctly set up.
If you see a large red warning button in the shop administration of your Letzshop storefront, this means that your Stripe account requires verification or an update.
In this case, you should follow the steps shown in the system so that payouts can be processed correctly again.
