What is Stripe?
Stripe is a Payment Service Provider available in over 21 countries, including Australia, United States, Canada, United Kingdom.
They support the following payment types
- Visa Card
- Master Card
- American Express (AMEX)
Wise-Pay has been built with a detailed and comprehensive integration with Strip which allows service providers to maximize processing efficiency for recurring and one-time invoices.
Using Stripe as an Alternative Merchant
A Wise-Pay subscription includes a standard account with Payrix. If you would like to use Stripe as an alternative provider to Payrix, an additional fee will be charged as part of your plan. This is in addition to any charges that will be charged directly by Stripe.
Configuring Payments via Stripe
To configure your Stripe Merchant, you’ll need to obtain your Stripe API Secret Key and then set up your Wise-Pay Merchant Account.
Locate your API Key from Stripe
To find your API Key:
- Login to your Stripe account
- Click Developers > API Keys in the left menu item.
- Check that you are viewing Live API keys View. If viewing test data, switch the View test data toggle.
- Click the Reveal live key token button.
- Copy the value of the Secret key. It should look like sk_live_somelongrandomvaluelike0Rx3jvetc
Configure your Wise-Pay Merchant account
Once you have obtained the API Secret Key, you can configure your Merchant Configuration for Stripe. To configure your merchant account, read Merchant Configuration.
Frequently Asked Questions
If you would like to use Stripe as an alternative provider, then an additional fee will be charged as part of your plan. The cost per transaction also increases from $0.33 to $0.77 per transaction charged by Wise-Pay. This is in addition to any charges that will be charged directly by Stripe. As you already have an account; you will need to record the following information:
API Secret Key
Note: Wise-Pay is not able to provide any further support until your account application, or access the account once it has been established
All transactions processed via Stripe should be processed into your Wise-Pay Clearing Account (set up during Onboarding). You will then need to reconcile these funds out of your Wise-Pay Clearing Account to the individual invoices. Reconciling your Wise-Pay Clearing Account ensures that all payments are taken up and applied to the correct invoices. This is a important process to ensure you are capturing and applying the correct information.
There is no need to move transactions between different accounts, Simply clear the bulk transactions (less fees debited) against your Wise-Pay Clearing Account. This will then balance the payments applied against the account with the funds received by Stripe.
When using clearing accounts - the account balance should always be $0.00 because you always take out the same amount that you put in.
Here's how to do it:
Go to Transactions > Banking
Select the transaction
Click Find Match
In the Match Trasaction window, type text to help you find the transaction
Once you have set your search parameters, click the magnifying glass to search.
When you find the item you're looking for, click on the checkbox in the list on the lieft of the date
If the total amount is the same as the transaction amount, click Save.