Key takeaways:

• Stripe is a simple and reliable payment processing service that can be used to pay independent contractors. But it’s not the easiest way to pay your contractors—we’ll cover that below.
• You will need to collect the necessary information from your independent contractors, such as their email address and bank account information, to use Stripe for payment.
• Once you have set up your Stripe account and collected the necessary information, you can easily initiate payments and celebrate once the payment has cleared.

How do I pay my contractors with Stripe?

Set up a Stripe account: First, you'll need to set up a Stripe account. It's a simple process that only takes a few minutes. Stripe also offers a wide range of payment processing services to meet all your payment needs.

Collect necessary information: Next, you'll need to collect the necessary information from your independent contractors, such as their email address and bank account information. Make sure to keep this information secure and confidential.

Initiate the payment: Once you have the necessary information, you can log in to your Stripe account and enter the payment details, including the payment amount and the contractor's banking information.

Wait for the payment to clear: Stripe payments typically take two business days to clear, so make sure you have sufficient funds in your account to cover the payment.

Celebrate! Your payment has been processed quickly and securely. Don't forget to confirm with your independent contractor that they have received the payment.

Is there a better way to pay my team?

Stripe is great, but if you want to pay your contractors even faster, you may want to give Thera a try. Our platform lets you pay your whole team of contractors, all at once, in a single click. In their currency of choice.

Learn more about how you can pay your team with Thera by heading here.