Corsizio integrates with Stripe to provide you a seamless online credit card payment process flow directly to your bank account. No special merchant bank account or other payment gateways are needed. The setup is a single step you take from within Payment Settings using the button Connect with Stripe. See screenshot below.
This configuration process will take you to a Stripe form where you fill out your business or personal banking information. This essentially creates a new Stripe account for you where you can update your banking details at anytime you like. If by any chance you would like to integrate with an existing Stripe account you already have, then just use the correct option on that form to associate Corsizio with it instead.
Each supported country has few different requirements, so be sure to select the correct country you are operating in using the country dropdown field on the form first. Then you can fill out the rest, like: Business Type, Business Address, Legal Name, Bank Account, and few other supporting fields.
Once you finish filling out that short form, then you will be sent back to our application fully integrated and ready to accept online payments immediately through Corsizio and straight to your bank account securely. Corsizio encrypts all traffic coming in and out of the platform and never stores credit card information on our servers.
Why We Use Stripe
Stripe provides full compliance with the strictest PCI Level 1 certification, along with competitive industry standard transaction fees, with no hidden fees. Credit card data does not cross our servers, nor does it get stored on them for PCI compliance and security. Stripe currently supports businesses in many countries around the world. See the full list of supported countries for more information. You can instantly accept payments from around the world by having a bank account within any of the supported countries. We make it easy to integrate and get started in a single step from within Corsizio.
Receiving Your Funds
We know that your resources are valuable and having quick access to your money is a top priority. Therefore unlike many other services, which may hold the funds until after the event has ended, we don’t. The benefit of using Stripe to facilitate all online credit card payment processing means that your funds will be deposited directly into your bank account on a 2 to 7-day rolling basis depending on your supported country.
Online Payment Processing Fees
All online payments are subject to credit/debit card fees, which include a Corsizio service fee and a Stripe service fee.
Corsizio’s payment service fee is a flat $1 for US, Canada, and Australia, €1 for Europe, and £1 for the UK for each online credit card payment transaction, which is taken out during the payment process automatically. You don’t need to have a credit card on file, and you don’t have to pay anything directly yourself.
Stripe charges an industry standard credit card transaction fee of 2.9% + 30¢ for US and Canada, 1.4% + 25¢ for Europe, and 1.75% + 30¢ for Australia – see Stripe’s fee for other countries.
Both of these payment service fees are automatically deducted during the processing of the payment transaction, which means that you conveniently receive your net funds deposited directly into your bank account. You are not billed for these payment service fees separately.
If you would like to minimize the costs associated with credit card processing fees, you can use Corsizio’s deposit feature to only collect a small amount from your customer online to secure a commitment, and collect the remainder of the ticket price in your preferred offline method. We also encourage you to read our blog post: 3 Ways to Save on Online Registration Fees.