Of course, ordering isn't all about picking and choosing your favorite products - there's also a little matter of payment. Luckily, Hubba makes the payment process easy.
In this article, we'll teach you:
- How we process payments.
- What costs you're responsible for as a Brand.
- The different payment terms you have the option to work with.
- What banking information is required.
How we process payments
All payment processing and banking information is held, managed, and processed by Stripe, not Hubba (if you’ve used Shopify, Kickstarter or many other popular apps, you’re already using Stripe!).
What costs you're responsible for as a Brand
Listing your Brand and products on our network of tens of thousands of Buyers is free. However, we do take a small commission - 10% - on all orders (excluding taxes, duties, and shipping costs) that happen through Hubba. There is also a separate payment processing fee of 2.9% per transaction, which is charged by our payment processor (Stripe).
When it comes to returns, you have the option to make it yours or the Buyers responsibility to pay for associated costs when filling out your Return policy.
The different payment terms you have the option to work with
Upon placing an order, Buyers have the option to request either immediate or Net-30 payment terms.
- If immediate payment terms are selected, their credit card will be charged once you provide a valid shipping tracking number.
- If Net-30 payment terms are selected, their credit card will be charged 30 calendar days after you provide a valid shipping tracking number.
In theory, the latter gives the Buyer time to sell the product and make a profit which they can then use to pay you for the goods received. However, it is completely up to you whether or not you want to accept these terms. As such, you can always reject the order (or try to negotiate!).
What banking information is required from you
In order to qualify to receive orders on Hubba, you must provide Stripe with valid banking information so that you can get paid. This means filling out a secure form with:
- Your location (must be based in the continental US to be eligible to receive orders)
- Your ABA/RTN number.
- Your account number.
- The address associated with your account.
- Your phone number.
- Your first and last name.
- Your date of birth.
- Your tax ID.
- The last four digits of your SIN number.
Once an order is placed, accepted, and shipped, you'll receive payment depending on the terms agreed upon by yourself and the Buyer.