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How do I accept card payments via Stripe?

What is Stripe?

Stripe is a technology company used by millions of businesses of every size – from new startups to public companies – to accept payments and manage their businesses online.

 

Countingup has partnered with Stripe to allow you to get paid online via debit or credit card in over 135 currencies. More information about Stripe, including its Privacy Policy, can be found here.

 

How do I connect Stripe to Countingup?

  1. Open the Countingup app and select the ‘More’ tabmore_tab_2x.png
  2. Tap ‘Stripe card payments’tap_Stripe_connection_2x.png
  3. Tap ‘Set up card payments’

    You’ll be taken to stripe.com in your browser to enter your email address and complete the set up. You can connect an existing Stripe account if you have one, or set up a new Stripe account to use. If you already have a Stripe account you want to use, make sure to enter the email address associated with that account.    Tap_set_up_card_payments_2x.png

How do I share my unique payment link with customers or clients?

  1. Once you’ve connected Stripe to Countingup, open the Countingup app and select the ‘Get paid’  tab

get_paid_tab_2x__1_.png

2. Select the ‘Share card payment link’ optionshare_card_payment_link_2x.png

3. Tap the ‘Share link’ button and then choose how you’d like to share your unique link. The link will open a web page where your customers will be able to pay directly into your Countingup business account by credit or debit card.share_card_payment_link_btn_2x.png

4. Get paid

When your customer pays you, the payment will go first to your Stripe account and will then be transferred to your Countingup account sometime later.

How much does it cost?

Using Stripe results in you being charged a transfer fee depending on various scenarios. Please see the below examples for more information. 

 

UK cards:

Stripe charges: 1.4% + 20p 

Countingup charges: 1.1% 

For example, if your customer pays you £100, you will pay a £2.70 card payment fee.

 

European Economic Area cards:

Stripe charges: 2.5% + 20p

Countingup charges: 1.1% 

For example, if your customer pays you £100, you will pay a £3.80 card payment fee.

 

International cards

Stripe charges: 2.9% + 20p

Countingup charges: 1.1% 

For example, if your customer pays you £100, you will pay a £4.20 card payment fee.

How to account for the card payment fee? 

To balance your accounts you or your accountant will need to make manual adjustments to the Sales and Financial Charges ledgers.

You can do this for each Stripe transaction. Alternatively, it may be simpler to do so once a month, when you receive your monthly ‘tax invoice’ from Stripe.  This describes the breakdown of payments and fees for the prior month.

For example, if you are not VAT registered and you receive a £97.30 Stripe payment from a customer paying you £100 with a UK card you (or your accountant) will need to: 

  • Credit the Sales account of £2.70
  • Debit the Financial charges account of £2.70

Your accountant can easily do this if you give them access to your data by using the Countingup Accountant Hub. See how to give them access here.

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