General Payouts

What is Stripe and why does Pangea use it?

Answer:

Stripe is a leading global payment processing company that enables secure and efficient online transactions. With a strong reputation in the industry, Stripe handles over $350 billion in transactions annually for thousands of companies, including well-known platforms like Lyft, Instacart, and Kickstarter.

Pangea.app chose to partner with Stripe to leverage its robust and reliable payment infrastructure for several essential reasons:

  1. Secure Transactions: Stripe ensures the highest level of security for financial transactions, protecting both talent and clients on Pangea.app. This commitment to security helps build trust and confidence in our platform.
  2. Global Accessibility: Stripe's wide-ranging payment capabilities allow Pangea.app to support freelancers and clients from various countries. It facilitates cross-border payouts, making it easier for talent and clients to collaborate globally.
  3. Efficient Payouts: Using Stripe streamlines the payment process, enabling swift and efficient payouts for completed contracts. This enhances the overall user experience for both talent and clients on our platform.
  4. End-of-Year 1099s: Stripe's integration with Pangea.app ensures smooth and accurate issuance of 1099-NEC forms for talent who earn more than $600 in a year on the platform. These forms are essential for tax reporting and compliance.

By partnering with Stripe, Pangea.app can focus on its core mission of connecting talent with exciting contract-to-hire opportunities while leaving the intricacies of payment processing to a trusted industry leader. The collaboration with Stripe allows us to maintain a secure, seamless, and efficient payment experience, making Pangea.app a reliable platform for talented individuals and companies seeking contract engagements.

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