At Vygo, we use a secure payment platform called Stripe. If you’re a mentee, you need to link your payment details using your debit or credit card.
To do so, click the profile picture icon in the top right of the screen, and from the drop-down menu that appears, click ‘Account’. From there, click ‘Payment Details’ and follow the prompts.
If you’re a mentor, to get paid, you need to add your bank details to the Vygo platform. Follow the same steps: navigate to ‘Account’ from the drop-down menu that appears when you click the profile picture icon in the top right of the screen, then click or tap ‘Payout Details’ and follow the prompts.
If a session is charged out at an hourly rate, an estimated fee will be given to the mentee when they go to book a session. The mentee won’t actually be charged, however, until the session has been completed by the mentor using the Vygo platform. The purpose of this is twofold: it ensures mentors get properly compensated for the time they actually spent mentoring and makes sure mentees are paying for the actual time they were mentored, whether that be over, under or equal to the calculated estimate.
If the price of a completed session is equal to or below the estimated booked session fee, the payment will automatically be charged and sent to the mentor.
If the price differs from the estimate given when the session was booked by $5 or more, the payment will be sent to the Vygo Student Success team to investigate and review. If the session duration is correct, the team will manually release the payment for the mentor and charge the mentee’s card. This may take up to three business days to be processed.
Note that for all sessions where mentors can select their own hourly session fee, mentees will be charged a small Stripe platform processing fee. This will be added to the estimated cost when a mentee requests to book a session and is reflective of the processing fee Stripe charges us for using their service. It is calculated using a combination of a percentage of the total transaction price and a fixed fee via the following equation: (hourly fee + 0.3) / (1 - 0.029). It is important to note that Vygo does not take any profits or payments from any sessions.