Stripe is the largest and fastest growing payment platform with over 100,000 customers and technology platforms. They're heavily invested in by Mastercard, Visa, Salesforce, Amazon, and many others. See below for some important facts and benefits:
Supported Payment Methods
- Credit Cards: Visa, Mastercard, American Express, Discover, Diners Club, JCBACH / electronic check
- Credit card
- United States
- Click here to learn more
International Payments and ACH
- ACH and Plaid offer lower rates to schools to transfer money. Bank routing information and account numbers are often required to make a transaction which is problematic as most parent's don't have access to this information on the fly. Plaid reduces this friction by using Single Sign-On with a variety of banks. The process is that you select your bank, you log into your bank and then the ACH payments are authorized. This increases the rate at which payments are made by parents. Once parents are enrolled, it allows us to do a balance check prior to a transaction which prevents payments being made with insufficient funds.
- IMPORTANT: Some ACH users may see a lower limit of $2,000 USD per transaction while they establish their account history with Stripe. If you would like to discuss increasing this limit sooner, please contact Stripe directly.
- Click here to learn more.
- Daily settlements.
- Auto-update to credit card expiration dates -- no more chasing down cardholders for expired cards.
- Schools can pass along service / convenience fees for credit cards
- Process in-person credit payments (must acquire compatible PoS)
- Ability to use other services that integrate with Stripe
- Quickbooks Desktop
- Quickbook Online via Commerce Sync
- Sage Business Cloud
- More: https://stripe.com/works-with/categories/accounting
Security and Compliance
- SSAE18/SOC 1 type 1 and 2 reports
- AFSL in Australia, E-Money License in Europe, and registered MSB in Canada
- PSD2 and Secure Customer Authentication compliant