What is the purpose of Stripe Connect in a marketplace?

Stripe Connect is specifically designed to facilitate transactions between multiple buyers and sellers within a marketplace environment. This solution provides a comprehensive set of tools suited for managing various aspects of payments in a platform that connects service providers or sellers with consumers.

The workflow of a marketplace typically involves payment procedures where a buyer purchases goods or services from a seller. Stripe Connect simplifies this process by allowing platforms to handle money movement, enabling them to accept payments and make payouts to sellers with ease. It also includes features like managing onboarding of sellers, handling commissions, and customizing payment flows based on the needs of the marketplace.

While cross-border transactions, refunds, and security are indeed important aspects of any payment system, they do not uniquely define the primary function of Stripe Connect within the marketplace context. The pivotal role of Stripe Connect lies in its ability to orchestrate the complex interactions between buyers and sellers effectively.