Flip It Exchange partners with Stripe, a secure payment processing service, to allow sellers to receive payments and organizations to receive disbursements. In order to process your payments, Stripe collects your personal data via the Flip It Exchange app.

Personal Data Stripe Collects

Examples of personal data that Stripe collects include:

Full legal name
Date of birth
Current address
Debit card or bank account information
Government-issued photo ID
Social Security Number or Individual Tax Identification Number

Stripe also uses your data to verify your identity, protect you from fraud, and keep track of your earnings. To learn more, see the Stripe Privacy Policy.

Providing Your Taxpayer Information

Periodically, Stripe will ask you to provide your Social Security Number (SSN) or Individual Tax Identification Number (ITIN) and your current address via the Flip It Exchange app. Stripe is required by the Internal Revenue Service (IRS) to collect this data for tax reporting purposes. To learn more, see Form 1099-K and tax reporting.

Important

All of your in-app payments will be paused until you provide the information that Stripe requires. As soon as your information is validated, payments will be released into your deposit account.

Submitting Your Data Through Secure Notifications

Flip It Exchange will send you a notification (by email or in the app) any time that Stripe requires your personal information or needs to validate your data. For your protection, only submit the requested information through the secure email or notification—never provide it by text or over the phone.

Tip: For best results, make sure you're using the latest version of the Flip It Exchange app before submitting your personal information.

Protecting Your Privacy

We're serious about your privacy. For your protection:

Flip It Exchange does not store any of the financial information that you provide to Stripe
Flip It Exchange does not collect or share any of your sensitive personal information beyond what is necessary for payment processing
All data is securely transmitted and stored by Stripe, which is PCI Service Provider Level 1 certified

To learn more about how we protect your data, see our Privacy Policy.

Why This Information Is Required

Federal regulations require payment processors like Stripe to collect and verify certain personal information to:

Prevent fraud and identity theft
Comply with anti-money laundering (AML) laws
Verify your identity before processing payments
Report earnings to the IRS when applicable
Protect both buyers and sellers on the platform

What Happens After You Submit

After you submit your personal information:

Stripe will verify your identity (this usually takes 1-2 business days)
Once verified, your payment capabilities will be fully activated
You'll be able to receive payouts from your sales
Stripe may periodically request updated information to keep your account current

Updating Your Information

If your personal information changes (such as your address or legal name), you should update it in your Flip It Exchange account settings. This ensures:

Your payouts are not delayed
Your tax documents are sent to the correct address
Your account remains in good standing

To update your information, go to Profile Settings or Payment Settings.

Questions about how your data is handled? Please reach out via our Contact page.

Personal Data Required for In-App Payments