Stripe is a payment processing software. Taskrabbit uses Stripe to process payments from Clients to Taskers through the Taskrabbit and Tasker apps.
How Stripe Works:
- The customer provides their card information in the Taskrabbit app.
- Those card details enter Stripe’s payment gateway, which encrypts the data.
- The charge passes through a credit card network, such as Visa or Mastercard, to the cardholder’s issuing bank.
- The issuing bank approves or denies the transaction.
- Once the cardholder’s issuing bank finalizes its approval, funds will transfer from Stripe into the Taskers bank account.
- Taskers can receive payouts when transactions have finished processing (usually around 2 to 4 business days).
Stripe is a trusted payment processor used by many major companies all over the world.
Stripe encrypts all customers’ credit card numbers and stores decryption information separately, which means Stripe can’t see credit card numbers without taking extra steps.
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