Payment Processing With Stripe
When a donation is made, it's processed into STNJ's Stripe account. Stripe processes their credit card transaction fee and the Donate2 application fee, automatically deducting from the total. The remainder is deposited into STNJ's Stripe account. A payout schedule can be configured to transfer the money from their Stripe account to their bank account.
All validation, error checking, risk evaluation, security, PCI compliance, and fraud detection along with so much more is handled by Stripe. Technically, Donate2 never handles the credit card or the money–that’s all with Stripe!
Stripe provides the ability for STNJ to download their own PCI SAQ A document to aid in their overall PCI compliance. They also have great tools for reconciliation, detailed reporting, transaction history, and more. Refunds take place directly in Stripe as well. The stats on refunds are so small they are hard to measure, which is a good thing! We are seeing donor requested refunds at less than .0005%.