Stripe Payment - FAQ
Q: What is Stripe?
Ans: Stripe is an online payment gateway provider (similar to PayPal) which allows merchants (sellers) to accept online payment with credit cards.
About Stripe: Stripe is a US technology company, operating in over 25 countries, that allows both private individuals and businesses to accept payments over the Internet. Stripe focuses on providing the technical, fraud prevention, and banking infrastructure required to operate online payment systems.
For more information: http://www.stripe.com
Q: How do I accept online payment using Stripe?
Ans: Please read the article here.
Q: What do I require to sign up for a Stripe merchant account? How long does it take?
Ans: First of all, merchant account eligibility is based on the list of supported countries where Stripe business currently operates in or is supporting. Stripe allows to open a merchant account as an individual or business entity.
If you or your business entity is supported by Stripe, you can simply sign up with Stripe via online. Account registration can take about 5 to 15 minutes to complete and it will be immediately activated. You will require to verify contact person identity (E.g., upload ID Card with photo such as NRIC) and provide bank account details. The whole process is online and easy process to complete.
Q: Does Buyer need to sign up with Stripe to pay?
Ans: No. It's very simple for buyers to check out. Just enter credit card number, expiry date and CVV/CVC.
Q: Can I accept international currencies with Stripe?
Ans: Yes. All stripe supported currencies by country are enabled by default.
Please refer more details here - https://support.stripe.com/questions/which-currencies-does-stripe-support
Q: How do I receive payment from Stripe?
Ans: In Stripe, you can withdraw / transfer money to the bank account you provided to Stripe. Stripe provides manual transfer and automatic transfer options. By default your account will be set to automatically transfer your account balance on a regular schedule. That default schedule depends on your country.
With manual transfer, you transfer payment to your bank account as and when you request. Automatic transfer option will transfer.
Please refer more details at Stripe here - https://support.stripe.com/questions/bank-account-and-transfers
Q: How do I refund payment from Stripe?
Ans: From Stripe admin, you can refund FULL or Partial amount. If you do FULL refund, Stripe refund 100% back to buyers and also returned its transaction fee back to the merchant (seller).
Q: How much is Stripe fee?
Ans: Please check Stripe fee here.