How does Stripe work with Cause Machine?
There are countless payment gateways and payment processors on the market today. Cause Machine has selected Stripe as our financial gateway for many reasons, primarily related to security and ease of use. You can read more about Stripe here.
Once you've connected your Cause Machine and Stripe accounts you can immediately enable any of the financial tools in Cause Machine. Currently the financial tools are as follows:
- Individual Memberships - monthly and annual payments
- Organization Memberships - monthly, annual, and subdomain payments (premium accounts)
- Course Purchases - single purchase or installment payments
- Product Purchases - single digital product purchase
- Events - attendee registrations, exhibitor registration, a-la-cart items
- Donations - single and recurring donations
- Refunds - full and/or partial refunds for various products
- Coupons - Discount coupons (fixed amount or percentage) for various products
Anytime one of your community members makes a "purchase" of any of these items they are guided through a payment process all in your website and digitally secure. Your members never have to leave your environment to make these purchases (or access what they've purchased).
How does money get from Stripe back to my organization?
Stripe batches payments back to you every few days. These payments will be deposited directly from Stripe to your connected bank account.
Can I manage refunds?
Yes, you can manage refunds in Cause Machine and through Stripe directly. We recommend you try to manage these through Cause Machine first to keep your modules up to date with the correct data. All financial information from Cause Machine transfers to your Stripe account. Not all information from your actions in your Stripe account transfers back to Cause Machine.
What fees are associated with Stripe?
Stripe has a standard 2.9% + .30 (per transaction) fee for all payments. Cause Machine has a variable service charge for payments depending on your subscription level and agreement. Non-Profit organizations are able to request a discounted rate from Stripe (2.2% + .30 per transaction). Find out more here.