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How do payments work with a booth renter model?

What is the difference between booth renter and commission?

Booth renters are service providers who are usually charged a flat or variable fee to rent space within a spa/salon/studio instead of getting paid an hourly rate or commission by the business.

How do I set up payment accounts for booth renters?

Payment accounts are helpful for businesses that allow booth renters to handle their own transactions. With this setup, booth renters will receive all payments directly to their own bank account.

To set up payment accounts, an Admin will first need to create the payment accounts. Then, booth renters can complete the process by signing up for a payment account.

What information do I need to sign up for a payment account?

For individuals, sole proprietors, or single member-LLC, you need to sign up with your personal information. If you have a business with an EIN, you need to sign up as a company.

You will need the following information to sign up for a payment account:

  • Business email

  • Business website (social media links are acceptable)

  • Phone number

  • Social Security Number or Business EIN

  • Bank account information (Account and Routing numbers)

In some cases, you will also be asked to provide other verification documents such as your driver's license, ID, or bank statements.

NoteIf you already have a Stripe account, you will need to sign up using a different email address.

How much are the transaction fees?

You are only responsible for per-transaction fees. We do not have any additional monthly or hidden fees.

  • In-person transactions: 2.4% + 15¢

  • Virtual transactions: 2.8% + 20¢

Do I need my own credit card terminal?

If your salon already uses a Front Desk Display, you can process your payments there. But if you would like to process your own payments at your booth, you can connect your own card reader to an iPhone or iPad.

How can I see how much I made?

Learn how to access your payment account to see your balance and payouts.

When will I receive my payments?

Learn more about the Mangomint Pay payout schedule.

Can I sell my own products?

Yes, but you will need to make sure that you are set as the "Owner" of the product. Otherwise, product sales will be processed through the primary payment account.

How do I file my taxes?

Booth rental means you own your own business. This means that you are responsible for taxes as no taxes are withheld through your employer. A 1099-K form will be issued and mailed to you directly.

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