Hey Yogi Bosses,
I've had a few enqiries asking about how exactly our payment process works and I thought we should simply put it in a blog post for you to peruse in your own time.
We use payment processor, Stripe Connect
- They are an online payment portal that's used by other apps such as Classpass & Taskrabbit.
To learn more visit:https://stripe.com/gb/connect-account/legal
Each teacher holds their own Stripe account administered by us, settled to your personal bank account on a rolling 7 day basis.
When a lesson is booked, 3 days before the lesson is due payment is taken from the client's card to secure the booking. This is why although you may know you've been booked for a lesson in advance you'll only receive an email confirmation to confirm 72 hours before. Our Commission
Once your lesson is completed; our commission and payment processing fees are deducted and the remainder released to your Stripe Connect account which is in turn settled to your personal account every 7 days.1st Time Clients -
The first time we introduce you to a new client we take 20% commission. Regular Clients -
If that client books you again we reduce our commission to 12.5% to reflect that you've done the work to bring the client back. How do discount codes work?
If a client uses your personal discount code our commission will not be deducted, only payment processing fees. £45 lesson (no discount) = £9 (YS commission) + £1.50 (payment processing fees) + £34.50 (teacher fee)
£45 lesson (20% discount) = £36 = £1.50 + £34.50
If you are ever booked by press or PR with 100% you still receive your payment the only difference is that it is directly from Yogassential.
Please don't hesitate to get in touch if you have any further questions,
my direct email is firstname.lastname@example.org
I hope this makes the whole Yogassential booking and payment process more clear.