Stripe is a large payment processing company that is integrated with Empower's software, enabling Empower's customers to receive electronic (credit/debit/prepaid) card payments from their riders and have those funds automatically transferred to their connected bank/credit/debit account. Stripe charges the following processing fees. As of July, 2024, Stripe charges as follows:
On each ride 2.36% of the amount paid by your rider (including tip, tolls, or any applicable taxes) + $0.16. For example, if a rider pays $20.00 for a ride, Stripe charges & withholds (($20.00) x (0.0236)) + $0.16 = $0.63.
0.1% of all amounts transferred to your connected bank/debit account. This Stripe fee is passed through when funds are transferred into your Stripe account. For example, if a rider pays $20.00 for a ride, you are charged ($20) x (0.001) = $0.02.
$1/month active account maintenance fee in any month in which you receive a transfer or payout. This Stripe fee is paid out of the first fare/fee you receive in any calendar month.
$0.10 for each non instant payout transfer from your Stripe account to your connected bank/credit/debit account.
The greater of $0.50 or 0.88% of the amount transferred for each instant payout from your Stripe account to your connected bank/credit/debit account.
Empower has in the past, and expects in the future, to negotiate for lower Stripe fees on behalf of our customers. Empower does not make any money from these fees.