This article is for anyone using Stripe Express in PhotoDay.
Starting in December 2024, PhotoDay Users have the option to migrate from Stripe Standard accounts to new Stripe Express accounts.
If you are currently using a Stripe Standard account, please head to this article instead!
Stripe Express is a secure and easy way to receive the money you earn from selling prints and products in PhotoDay.
Jump to a section:
How to make the switch
Getting started is easy! Just follow the steps in your PhotoDay Studio Panel to create a Stripe Express account.
In your PhotoDay Studio Panel, you’ll see a new banner inviting you to “Switch to Stripe Express” > Click the button
Now you’re in Settings > My Studio > Payment. Click the “Make the Switch” button.
This will open up Stripe Express where you can follow the steps to create and verify your account.
That’s it! You’ll receive a confirmation email from PhotoDay once everything is verified.
Why we are migrating to Stripe Express
When we launched PhotoDay in 2018, we used Stripe Standard Connect to manage real-time transaction splits (between studios, labs, and PhotoDay) and handle sales tax based on nexus rules.
As e-commerce and marketplace facilitator laws evolved, Stripe introduced a new product (Stripe Express) that's better suited for platforms like ours.
This change is all about setting up both PhotoDay and your business for success—now and in the future!
Migrate from your current Stripe Standard account to a new Stripe Express account to stay up-to-date with all of our integrated features.
What this means for you
First, let’s start with a couple of definitions:
Transfers - When funds move from PhotoDay to your Stripe Express account.
Payouts - When funds move from your Stripe Express account to your connected bank account.
Now, for the details:
Account Info: Stripe Standard > Stripe Express
Your Stripe Standard account and Stripe Express account are separate and not connected to each other.
No funds or history from your current Standard account will be available in the new Express account.
Stripe Express is exclusive to your PhotoDay account. Your current Stripe Standard account will not be affected.
If you use the Stripe mobile app, you will need to download their separate Stripe Express app to view your new account.
Tip: When creating your new Stripe Express account, use the same email address attached to your current Stripe Standard account. Although each account is separate, Stripe will let you switch back and forth more easily if you use the same email address.
Getting Paid
Good news about getting paid - it's incredibly simple. Payouts (from Stripe to your bank account) happen weekly every Monday. This is completely automatic!
1099 & Tax Time
Stripe will still issue relevant 1099 forms (learn more). Laws vary by state, but because you will most likely be migrating before the end of the year, you might receive two 1099 forms from Stripe for 2024. Please note: PhotoDay does not offer tax guidance, so please consult with your financial advisor.
Transaction and payout reports can be downloaded from your Stripe Express dashboard, visit Stripe's article here for more details.