Up until last week, new LOAM stores defaulted to a managed merchant of record arrangement. That made onboarding fast but left payouts going through us. Today, that flips: every new store provisions its own Stripe Connect Standard account during onboarding, and money moves directly between your customers and your bank.
Why we changed the default
A handful of mid-tier merchants told us the same thing in customer interviews: they wanted their own Stripe dashboard, their own payout schedule, and the option to connect their own analytics and accounting tools without going through us. Connect Standard gives them all of that without sacrificing the one-tap onboarding experience.
What's new
- Automatic Stripe account creation during onboarding. You tap "Connect", we create the account and pre-fill what we already know.
- Direct payouts to your linked bank account, on Stripe's standard schedule.
- Your own Stripe dashboard — fees, disputes, refunds, all visible to you.
- Existing tenants can migrate via Settings → Payments → Switch to Standard.
We're keeping the merchant-of-record option available for stores in regions where Stripe doesn't operate, and for tenants who explicitly want us in the loop.