In order to use the Vendor Stripe payment addon, the vendor needs to enable it by navigating to Settings > Transactions > Stripe payment.

If the vendor has been already onboarded on the stripe & has valid details like Bank account / Routing number (Also known as IBAN or IFSC code) & email address associated with the stripe connect account needs to be filled.
However, if the vendor does not have these details then he/she can be onboarded on stripe connect by clicking on the “Connect with Stripe” Button.

Additionally, vendors need to fill in their country as well in the Vendor profile section.