Stripe

Modified on Tue, 09 Apr 2024 at 02:14 PM

Most credit card companies have complex rates and fee structures that can make it hard to determine the cost to your business. Stripe is the opposite, they are very clear on  what you are paying in processing fees. Floranext integrates with Stripe for credit card processing through both your website and POS. Note that rates may differ from those advertised on the Stripe website, so please contact us for details on pricing. 



TABLE OF CONTENTS



Stripe Advantages 


Other advantages of using a Stripe account include:


  • No monthly gateway required (save money on gateway fee)
  • Get same-day setup, usually in under 10 minutes
  • No PCI compliance fee, statement fees, device insurance fees, or other hidden charges
  • Flat processing rate on all transactions and all card types (Visa, Mastercard, Discover, American Express)
  • Full access and control over your Stripe account
  • View detailed credit card processing reports from your Stripe Dashboard
  • NEW! Google Pay and Apple Pay payment methods for the Website Checkout. Note: May depend on your Stripe Account Type. 
  • NEW! Add-On feature to use a Credit Card Surcharge free on the Floranext POS + Website package.  Only $10 more a month for POS only or Website only packages.

 


Please Note - Generally for US customers the initial (first) payout will take 7 days for the new account, and then automatically be moved to a 2-day rolling standard payout schedule. This standard schedule varies by country, but in the US it's 2 days rolling. Customers located in Canada will always default to a 7-day payout.



Setting Up Credit Card Processing Through Floranext


To get started, navigate to Settings ➜ Stripe UA Settings and enter your password to continue.


If you don't see an option for the Credit Card menu under Settings, try logging out and back in using the Log Out option under the account menu, or "person icon" (simply closing your browser tab or window and reopening Floranext will not work).


To create a Stripe account, you will receive an email to complete account setup. Click “Claim your Stripe account” to continue to the Stripe website. You will be prompted to create a password for your account.


Your Stripe account is now set up, but you will be unable to capture payments until you complete the next few steps.


To complete the application, you’ll just need your shop’s bank account and routing numbers. Additional information like your shop’s EIN/tax number or personal identification number (ie. Social Security Number) isn’t required.


Click Activate Account on the left to continue.


Fill out the application and click Activate Account to submit. Some fields are optional, but don't forget to verify the account with a phone number!


Once Stripe receives your activation, Floranext will verify your account and test your gateway.


To process a credit card with Stripe, just click the "Credit Card - Stripe" payment method from the Take Payment menu. 



Now that your Stripe account is set up, you are responsible for managing it. Floranext can offer guidance and support, but we have no access to your Stripe account.



Running a Debit Card with Integrated Processing 


If you have a gateway with your Floranext POS (integrated credit card processing) then you will be able to process credit cards and debit cards that have a logo you accept (Visa, Mastercard, American Express, Discover, etc). The types you accept are setup with your credit card processor.


Debit cards do not require entry of PIN by customer because they are run as "Debit With Signature."


  • Enter the order in your Floranext POS Take Order screen
  • Choose the Credit Card payment option to key in the number
  • Complete Order




Editing Completed Orders with Integrated Processing


Once an order is complete, changes can be made to products or other fees. These changes will be reflected within your Stripe portal as new charges, partial refunds or full refunds. 



Stripe Users: If multiple edits to products are made to an order this may cause a full refund to be issued in your stripe portal. New charges will then be issued in the stripe portal immediately after. More info on Stripe orders can be found here.

Using Your Stripe Account


You can access your Stripe account at dashboard.stripe.com.


In general, customers processing credit cards in Floranext through Stripe won't need to access their Stripe accounts regularly — There is no need to batch out credit cards, for example.


Detailed reports are available in your Stripe Dashboard.


If you're having an issue with Stripe, please see this guide to learn who to contact for troubleshooting and resolution.



Changing Stripe Deposit Schedule


First, navigate to your Stripe Dashboard, then go to Payouts on the sidebar.


From the Payouts menu, click Settings. In the Settings screen you'll see your connected bank account information, and beneath that, your Payout Schedule.


By default your payouts will be automatically deposited to the connected bank account every day, seven days from the time payment is received. 

You can change your deposit schedule to daily, weekly, or monthly, and all captured payments within that span of time will be bundled and deposited. We do not recommend switching to manual payouts. 



Accelerating Deposit Schedule


Stripe has their own policy on payout schedule that Floranext has no control over.


However, Stripe has encouraged account holders to use the Contact Us form in the Stripe dashboard to request a shorter payout schedule. Stripe will review these request.


The qualifications for the 2-day payout schedule are as follows:


  • Your business is located in the US or Australia
  • You have actively processed payments for 120 days, or have over 100 charges
  • Your dispute rate is below 0.2%


Accelerated Deposits in Europe and Canada 


Stripe now offers accelerated payout speeds for users and their Standard connected accounts in Europe and Canada, with funds available within 3 business days. 
After meeting certain criteria based on risk and history with Stripe, users in Europe and Canada are eligible for this faster payout speed option.

You must reach out directly to Stripe by logging into your Stripe Dashboard and contact Stripe Support to check if you are eligible.




Changing Bank Account for Strip Deposits


Navigate to your Stripe Dashboard, then go to your transfer tab.

The changes will take effect for all new transfers almost immediately.


Changes made to other Stripe account information will not impact your payout schedule.



Note: If you change your bank account or identification number (eg. Social Security Number), the account status will change to Pending. You will still be able to accept/“capture” payments, but will not receive deposits until the updates are processed, typically 1-2 days after the change is submitted.




Forgot Stripe Password


Recovering your password through Stripe is simple. Just click here and enter the email you created the account under to receive a password reset link.






Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article