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How do Platform Fees work?
Gnomes avatar
Written by Gnomes
Updated over a week ago

The Food Corridor charges Platform Fees for all transactions in order to cover ongoing platform services. Platform services include:

  • Unlimited clients

  • Unlimited calendars

  • Unlimited bookings/cancellations

  • Upcoming booking notifications

  • Unlimited documents w/ notification tracking

  • Automatic monthly invoicing system

  • Automatic billing system - which includes payment processing 

  • Unlimited digital file storage for documents

Additionally, the Platform Fees include Stripe's processing fees, so there is no additional charge from Stripe.

If a kitchen chooses to "externalize the Platform Fees," the amount will be calculated to any transaction billed through the system and added to your clients' charges. If the kitchen chooses to "internalize the Platform Fees" the kitchen pays these fees.

Platform Fees are applied dependent upon how your Clients pay their charges within the platform. The Platform Fees on the Professional Plan are:

  • Credit or Debit card - 4%.

  • Bank transfer (ACH or PAD) - 2%.

  • Manual (cash or paper check) - 2%

On the Starter Plan, Platform fees on all payment types are 8%.

The billed funds pass through The Food Corridor's Stripe Account where the Platform Fees are taken out and the rest is transferred into your Stripe Connect Account. In Stripe, you'll see these referred to as a 'Fee' or 'Application Fee'. These fees are also shown in The Food Corridor on your Payment Details report, Monthly Revenue reports, and client statements.

If you are externalizing the Platform Fees, they will be added directly to your client's total bill and collected when billed. We then take out our 2% or 4%, and the remainder is dispersed into your Stripe Connect Account. So if your client reserves 4 hours at $25 an hour, we bill your client for $104, and you will receive $100 delivered to your Stripe connect account.

Note: For US kitchens, charges under $30.00 paid by credit card or debit card will have a $0.30 fee added on. For Canadian kitchens, charges under $40.00 paid by credit card or PAD will have a $0.40 fee added.

Here's more on platform fees.

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