Stripe Overview
VinesOS is integrated with Stripe, which is the most advanced payment infrastructure for the Internet. In addition to offering flat rate pricing, it is also the easiest to use, most flexible payment platform.
Is Stripe secure?
Yes, Stripe is a certified PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry. To accomplish this, they use the best-in-class security tools and practices to maintain a high level of security at Stripe.
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What are some of the Stripe Advantages?
Stripe payments at checkout offer customers a modern, streamlined, and easy process for completing their transactions. For businesses, Stripe solves all of their payment and transaction management needs. The many advantages of using Stripe include:
Streamlined User Experience
With other merchant processors, the customer is required to click through to multiple pages to enter their credit card details. Stripe handily consolidates this to a single payment page, thereby eliminating unnecessary steps and wasted time. Customers will see an Add Card button in the credit card details section.
Payment Auto-Detection (Google Pay, Apple Pay, Browser-saved)
Collect payment from customers who use Apple Pay, Google Pay, and browser-saved cards. Customers see a Pay now button, an Apple Pay button or a Google Pay button, depending on what their device and browser combination supports. If no option is available, they don’t see the button, and they can manually enter their credit card information. Safari, Chrome, Chrome Mobile, Firefox, and Microsoft Edge browsers are all supported for both desktop and mobile devices.
The following is an example of a browser-saved card detected.
Flat Rate Pricing and reduced fees
VinesOS offers transparent, flat rate pricing so you know exactly what your rates will be, with no hidden charges. Fraud, chargeback, and card updating fees are considerably less with Stripe than what WorldPay and OpenEdge charge.
When you provide us with your merchant statement, we will try our best to beat or match your current rate, and we will send you a summary of how much you would save on Stripe compared to your current processor.
Dispute fees $20.00
Credit card auto update fee: $0.99 per successfully updated card that would have otherwise declined. (This feature will update a credit card when the issuing bank has replaced it and it has been updated anywhere on the Stripe network. It is optional but saves a ton of time calling members to get the new card. See comparison rates for this below with other processors).
The terminal monthly charge is $10 per terminal.
Per transaction fee .30
Stripe Rate Comparison
Feature | Stripe | WorldPay | OpenEdge |
Processing rate | Flat fee based | Variable based on your volume and negotiated rate + the type of card used by customer (ie, Amex Blue cards have much higher fees). Typically we see actualized rates between 2.8% - 7% | Variable based on your volume and negotiated rate + the type of card used by customer (ie, Amex Blue cards have much higher fees). Typically we see actualized rates between 2.8% - 7% |
Per Transaction fee | .30 | Varies | Varies |
Chargeback / Dispute fee | $20.00 USD per disputed payment. (You will be notified of a dispute online in the Console, and you can submit evidence online to reject the dispute.) | Chargeback fees vary per payment processor, ranging from $20 to $100 per incident and is not refunded if won. If the dispute reaches the arbitration stage, the card brand can charge $250 to $500 in fees. The losing party is responsible for paying these fees. | Chargeback fees vary per payment processor, ranging from $20 to $100 per incident and is not refunded if won. If the dispute reaches the arbitration stage, the card brand can charge $250 to $500 in fees. The losing party is responsible for paying these fees. |
Credit card auto update fees | No Setup Fee No Monthly Fee | $20.00 Setup Fee, $10.00 Monthly Fee $0.99/transaction Monthly Minimum Fee $30.00/ month | $20.00 Setup Fee, $10.00 Monthly Fee $0.99/transaction Monthly Minimum Fee $30.00/ month |
Terminal cost | $300 | $550+ | $550+ |
Negative balance fee | If your account is debited as a result of refunds that cause a negative balance, there is a 1.5% fee on the amount debited. |
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PCI Compliance fee | N/A | $24.95 | $20-40 |
Non Compliance Fee | N/A | $39+ | $39 + |
Tokenization fee | Free | Tokenization Fee $15.00 per month for 250 stored tokens. Each additional token after 250 will cost $0.10 per month per token. | Varies |
There are no monthly or hidden fees for credit card processing.
NOTE: All processing fees are deducted before funds are transferred to your linked bank account. In the case of Disputes, the disputed amount is withheld from deposit to your bank until the dispute is resolved. If your Stripe VinesOS account does not have sufficient funds to cover it, it will be debited from your connected account.
Fewer declines:
Repeat charges or members with more than one card on file - these will process immediately without triggering decline response due to card with same amount being charged twice.
It estimated over 90% of Americans have used Stripe and are familiar with the checkout. It is used by Amazon, Google, Wayfair, Shopify, Instacart. Uber, Doordash, Instacart, Lyft, Zoom: Customers already know the checkout and 2) if a card is identified as fraudulent on any of Stripe's network it's immediately blocked, helping prevent fraud charges.
Convenience
All sales and transactional data are available directly within VinesOS, so no need to visit a third-party site to check transactions.
Advanced Fraud Detection
If a card is reported stolen/lost or otherwise detected as potentially being used fraudulently at a vendor that processes with Stripe (including DoorDash, Facebook, Drizzly, and many large e-commerce providers), the card is instantly recognized and disabled.
Reconciliation
Simplify and accelerate how you reconcile and recognize transactions. You will have easy and immediate access to financial and accounting reports.
Payout Management
Get paid out quickly and easily, with a 2-day turnaround. You can also view historical and upcoming deposits, and see expected payout dates right from the Dashboard or on an app you can download.
Embedded VinesOS dashboard experience Stripe Dashboard
View and manage all of your Stripe data, customers, plans, and balances directly within the VinesOS console. You can initiate refunds and manage disputes online in VinesOS.
What do the ratings say about Stripe?
Check the professional reviews.
How long does an authorization last on Stripe?
The authorization will place a hold for 48 hours before the funds are released. After that time the card can not be charged, so make sure to do a full capture within that time frame.