Payments in Tiptapp

This is how it works

 

When an advertiser on Tiptapp selects another user for a pick-up, the advertiser’s payment card is pre-authorized for the amount offered as pay. Once the pick-up has been done and has been confirmed by the advertiser, the charge on the card is “captured” and the payment is sent to the other user (who have picked up).

Tiptapp is using a third-party payment provider, Stripe Inc., to offer a robust and secure payment. No sensitive information regarding payments are stored at Tiptapp but is instead encrypted and stored only by Stripe.

 

For those receiving payments

1

When you send your first request for a pick-up you will be asked to provide a bank account to which your wish to receive payments. You can also access and edit your bank account in “My Account” in the app. When adding a bank account it is important that you provide a name and address that corresponds with  your correct legal/residence information in order for payments to go through.

2

For each payment going through the app, Tiptapp deducts a transaction fee equivalent to 20 % of the payment between advertiser and user picking up. This means that the total payment that is paid out to your account is 80 % of the amount specified in the ad.

3

The first time you do a pick-up you will have to show that you are recycling with the in-app function “Show Recycling” before any payments can be made to your account. When this is done, your payment is transferred to your account and this can take up to 4 days.

If you experience any trouble with receiving your payments, please contact us at support@tiptapp.com. Please describe your problem and include the mobile phone number you have registered with and we will help you.

We will try and help you as far as possible even though we may need to rely on our payment provider Stripe, who formally handles the actual payments and any conflicts with regards to these.

 

For those sending payments

1

To be able to publish an ad you will first have to add a payment method in the app on your account. Currently Visa, Mastercard och American Express are accepted.

2

When you select a user among those requesting to pick up, your payment card is pre-authorized for the amount equivalent to the pay you are offering. If the pick-up is cancelled by you or user picking up, this pre-authorization is released immediately by our payment provider Stripe. The bank who is issuing your payment card bank may have different routines and the time before the money are available again varies a lot.  Some banks do this immediately while som will do it within a few days. Please contact your bank for more information.

3

No money will be charged until you have confirmed a that pick-up is complete.

4

On your bank account statement it will say ”www.tiptapp.com/bill” which is the URL to this page.

5

Once the money is paid out to the user picking up, they are automatically deposited in a bank account of their choosing  within 4 days.

If you see a charge to your payment card that you clearly know is wrong, please contact us as a first step. Email us at support@tiptapp.com and provide us with a short description and the mobile phone number that you have registered with in the app. You may as a next step also reach out to the bank issuing your payment card and object to a payment you think is wrong.

We will try and help you as far as possible even though we may need to rely on our payment provider Stripe, who formally handles the actual payments and any conflicts with regards to these.