Stripe is a third-party payments processor which enables the institutions using Handshake to accept payments online. It stores customer credit card information, and processes payments (saving the institution from having to accept the risk of storing credit card information). Stripe is one of the most trusted payment processing platforms available today for web transactions, and many leading ecommerce companies use Stripe for secure payment processing. If you’d like to learn more about Stripe, please visit their website. [https://stripe.com/]
For each transaction processed through Stripe on Handshake, Handshake customers are automatically charged a total of 5% of the transaction amount. (This amount is taken directly from the charge and will not be billed separately). Handshake will take up to but not more than 5% of the total transaction including Stripe's fees. Stripe's fees are subject to change.
When you administer a refund, these fees are not reimbursed. You can read more on Stripe's fees for refunded payments on their site: Understanding fees for refunded payments : Stripe: Help & Support
- Stripe’s pricing is subject to change at any time. For the most up to date pricing information, please visit this page (UK).
- You will not be charged setup fees, monthly fees, or card storage fees.
To learn more about how the owner of your institution’s Handshake account can create a Stripe account for your institution, read How to Setup a Stripe Account
Please see the attached FAQs if you have any additional questions.