Stripe is a third-party payments processor which enables the schools using Handshake to accept payments online. It stores customer credit card information, and processes payments (saving the school 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.) . Stripe is taking 2.9% + .30 cents for each transaction. 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, Stripe refunds their 2.9% + .30 cents. Handshake will not reimburse the remaining % (approximately 2.1% of the refunded transaction).
Notes:
-
Stripe’s pricing is subject to change at any time. For the most up to date pricing information, please visit: {https://stripe.com/us/pricing}.
-
You will not be charged setup fees, monthly fees, or card storage fees.
-
You will be charged a $15 fee for chargebacks (a customer disputing a charge processed on your behalf). If the dispute is resolved in your favor, Stripe refunds this fee.
To learn more about how the owner of your school’s Handshake account can create a Stripe account for your school, read How to Setup a Stripe Account
Please see the attached FAQs if you have any additional questions.