How to Create a Stripe Account through Laterpress
Learn how to create a Stripe account so you can monetize your stories on Laterpress.
To set up and connect a Stripe account to your Laterpress account, you must first be logged in.
In the “Reader payments” section, click on the box that says “Enable Stripe account.” From there, proceed through the following steps:
Step 1: Enter email address and password to be associated with the Stripe account. I would recommend making this password different than your Laterpress account password.
Step 2: Set up two-factor authentication. The prompts will walk you through either sending notifications to a phone number, or you can use the Google Authenticator app.
Step 3: Tell us about your business - On this screen, enter your business address. This could be your home address, your office location, if you do not base your business from your home, or a PO Box. For type of business, scroll through the options and select what matches your tax filing status.
Step 4: Enter personal details - On this screen, enter your legal name, business email, date of birth, phone number, and the last four digits of your Social Security number. If you do not wish to use your own phone number, you could set up a business phone number, or use a service like Google Voice to create an alternate phone number that rolls forward to your phone.
Step 5: Professional details - Under industry, scroll to digital products, and choose Books. For website, you could use a link to your own website, a professional social media account, or the URL of the book or collection you have published on Laterpress.
Step 6: Banking details - On this screen, you can search for a bank and connect Stripe to your account by logging in through your online banking account, or choose to enter the account manually. On the manual screen, you will need to enter the routing number and account number for the bank account.
Step 7: Customer support details - The information you entered on prior screens will populate here. Verify everything is accurate and change if needed.
The “Statement descriptor” is what will show up on reader’s bank statements for their transactions with you. This should match your business name, author name, or pen name.
Step 8: Final review - You’ll be taking to one last screen to verify all the information entered. If everything looks correct, press “Submit.” You’ll be taken back to the Laterpress settings page once this process is complete.
To view sales data - Go to Stipe's site while logged into your Stripe account. (dashboard.stripe.com)
Congrats! You’re now ready to receive payment for your stories!