Many business owners pause when they’re asked to connect Stripe on Skip. That’s understandable — payments are sensitive and are the foundation of your business. This is especially important since Skip often requires payout integration for Instant Grants and $10,000 grants.
In this post, we clarify:
- Why we require payout integration
- How this requirement relates to your existing payment systems, and
- Answers to common questions about setting up payouts.
If you win a grant, we pay you via Stripe
The most important reason to fully set up your Stripe integration on Skip is simple: if you win a grant, we issue payouts exclusively via Stripe.
To date, we’ve awarded grants to 1,500+ business owners and entrepreneurs. Setting up payouts in advance helps ensure we can pay you quickly if you’re selected as a winner.
For $10,000 grants, setting up payouts is all that’s required
For recent $10,000 grant applications, Skip requires that you’re able to accept online payments on Skip.
This does not mean you need to list products or services for sale — in fact, for many businesses, selling online isn’t even an option. What we do require is that you can accept online payments from us (and, optionally, from customers if you choose to list products or services).
Stripe is linked directly to your business bank account
When you set up payouts via Stripe, you’ll securely connect your business bank account.
If you win a $10,000 grant (or a $1,000 grant), funds are paid to your Stripe account and deposited directly into your bank account. You can schedule payouts automatically or trigger them manually — you’re always in control.
This doesn’t affect any existing payment systems you use
Already using Square, PayPal, Venmo, checks, invoices, or something else? That’s totally fine.
Stripe on Skip is optional and additive, not a replacement. Think of it as opening an extra checkout lane — not closing any existing ones. At the end of the day, your funds still end up in your bank account.
Payouts on Skip can help increase sales and revenue
Once payouts are fully connected, you can add products or services to your business page or website on Skip if you choose.
Business pages and websites on Skip collectively receive millions of views per month. That visibility creates another opportunity for your business to get discovered — and for new or existing customers to pay you conveniently.
You’re always in control
With payouts on Skip, you can disconnect Stripe at any time, control what you sell (if anything), set your pricing, view every transaction in your dashboard, and get paid directly.
If you have questions, reach out to the Skip team — and here’s to your continued business growth 🚀