In our previous post, we discussed some of the top reasons we chose to partner with Stripe for our payment processing services. In this post, I’ll talk about ways this partnership with Stripe directly benefits our clients. Payment processing for event companies can be complicated, but it doesn’t have to be. Let’s dive right in!
Let’s Get a Handle on Those Fees
I’m starting with the feature that I’m most excited about: our credit card fees. You didn’t expect that, did you? With Goodshuffle Pro + Stripe, credit card processing fees (a.k.a. “transaction fees”) are 2.9% + $.30 per charge for all cards. Yes, this includes American Express!
And, if your client doesn’t want to use a card to pay for their event, we also have the option to use an ACH/E-check payment. This carries a 0.8% (max $5) processing fee per transaction. Stripe also charges 0.25% + $0.25 on transactions to cover the ‘Transfer Fee.’ There is an option to pass on these fees to your clients, although you’ll need to check your local rules and regulations, as it is not permitted everywhere. The National Conference of State Legislatures has a great article that briefly summarizes rules per state and is a good place to start (although not a replacement for doing your own research)!
The Easiest Way to Get Paid Faster
Since partnering with Stripe, our clients have noticed that they get paid faster, too. It’s not just because funds get deposited directly into your bank account as soon as they are available, but also because the payment process itself is so smooth, fast, and easy to use. Goodshuffle Pro + Stripe works well across all devices, from desktops to mobile phones, so you can accept payments from wherever you are. You can also save cards and keep them on file. This is useful in case a client finds the perfect centerpieces for their wedding or item damage occurs at an all-too-rowdy birthday party.
They’ll Keep the Card (on File)
The ability to keep client cards on file through Stripe is incredibly handy. This feature is fully integrated into Goodshuffle Pro, so you won’t have to navigate between multiple sites just to get things done. Stripe maintains a PCI DSS Level 1 standing (the highest level that can be obtained) and has early warning fraud detection built in, which means you and your client’s financial information are safe. Added bonus: because your client’s payment information is secured through Stripe (instead of in a file somewhere!) it reduces your company’s liability for protecting that information.
Goodshuffle Pro + Stripe also helps you out when it comes time to collect payment. You can set up client payment reminders and automated payments right in Goodshuffle Pro, so there’s no need to track down clients to collect payments. There may not be much need for that, however, as we’ve noticed that about half of all clients pay within 5 minutes, and 70% of clients pay within 3 days!
No Hidden Costs
Finally, all of this is free with a subscription to Goodshuffle Pro. No set up costs, no hidden fees, and customer support is free. Payment processing for event companies is one of the most important