Payment Policy

FAVA's payment policy utilizes Stripe Connect, a secure and industry-standard payment processing system, to manage all transactions between Users. Importantly, FAVA does not store or access complete financial information. This Payment Policy outlines how payers are charged, how earners receive their payments, what fees are applicable, and how optional tips contribute to supporting the platform.

When you post a request that includes a price (e.g., $20), according to the FAVA payment policy, you will pay: Exactly the amount listed ($20) with no extra Stripe fees, no platform fees, and no service charges. Payment processing is straightforward, as you only pay after the helper marks the request as completed. All financial details are processed securely through Stripe Connect.

When you accept and complete a request, you receive your payment through Stripe Connect Standard as part of the FAVA payment policy. Your payout is calculated as follows: Payment Amount − Stripe Fees − Fava Platform Fee. Typically, Stripe fees are around 2.9% + $0.30, while FAVA’s Platform Fee is 10% capped at $5. 

For example:

Posted Amount = $20

Stripe Fee ≈ $0.88

Platform Fee = $2.00 (10%)

Your payout: $17.12

FAVA clearly displays the exact payout amount BEFORE you accept any request, ensuring transparency in your payment processing.

FAVA's payment policy includes a platform fee that helps cover the costs associated with enhancing the app, maintaining security and infrastructure, supporting features, handling Stripe Connect fees, managing server and administration tasks, and facilitating continued development. Importantly, this fee is never charged to the payer. The fee is set at 10%, capped at $5, ensuring that earners have predictable and transparent earnings from their payment processing.

Users may choose to support the app through a voluntary tip, which directly contributes to FAVA and adheres to the FAVA payment policy. These tips do NOT incur a platform fee, although Stripe Connect’s card processing fee applies. It's important to note that tips are never required. This approach helps keep FAVA affordable and community-driven.

FAVA's payment policy does not include managing or guaranteeing refunds between users. Payment processing through Stripe Connect may lead to automatic refunds when certain conditions are met, such as when a card is declined, a payment cannot be authorized, or a dispute is filed. Users are responsible for disputing charges with their bank and resolving any service disagreements with each other. It is important to note that FAVA is not a party to service agreements and does not mediate disputes.

Earnings report responsibilities fall entirely on earners, which includes: reporting earnings, paying taxes, and consulting a tax professional if necessary. Under the FAVA payment policy, tax documents are not issued unless required by Stripe Connect for payment processing.

All transactions under FAVA's payment policy utilize Stripe Connect’s encrypted, PCI-compliant payment processing infrastructure. FAVA does not store: bank numbers, full card numbers, or routing numbers.

For inquiries regarding our FAVA payment policy or any questions related to payment processing, feel free to reach out to us anytime at info@fava.co. We also utilize Stripe Connect for secure transactions.