If you need a Stripe Connect account to process card payments, learn how to do so here!
To process online payments in Connect Space you'll need to create a Stripe Connect account. You'll be switching between the Connect Space and the Stripe or websites, so here we go!
Stripe Connect Account
1) In Connect Space, click Payment in the Side Navigation.
2) Click the Connect with Stripe button.
3) You'll be take to Stripe's website. Fill out the form to create your account. You will be redirected back to the Connect Space site to confirm that your account has been connected.
In Stripe
4) Return to the Stripe website. In the upper right-hand corner, click Developers.
5) On the Stripe website, click the API Keys tab and Copy your Live Secret Key.
In Connect Space
6) Head back to Connect Space. Click Payments in the side navigation, then click Transfers, and paste the key into the appropriate input.
In Stripe
7) We highly recommend that you go to back to Stripe and in the top bar search "External Payout Accounts", then select the "Settings > External payout accounts and scheduling" option. It is advisable to select Switch to manual transfers as this will avoid account reconciliation issues in the future (ex. if a registration is refunded but there is not a balance to cover the refund).
NOTE: To avoid account reconciliation issues between Stripe and Connect Space manage your payments and refunds within Connect Space, only using Stripe for Payouts to your bank account.
8) Pricing - Stripe Connect charges 2.9% plus .30/transaction; in addition Connect Space charges 2.1% per transaction.
Stripe Identification and Verification Requirements
Annually, Stripe will institute an identification and verification process for each connected account. Documents required to be submitted are based on Stripe transaction volumes, but will generally include the following:
1) Assignment of a representative individual from the connected account.
2) Photo ID (Drivers License, Passport etc) for the representative.
3) Full social security number (transaction volumes>$500,000), or last four digits of the social security number (transaction volumes<$500,000) of the representative.
NOTE: After submission of the identification documents and verification of their authenticity by Stripe, the connected account representative may request deletion of those documents by emailing privacy@stripe.com.
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