How to Set Up and Manage Payment Processors on IHUBApp Using Stripe

Whether you’re looking to collect donations or host ticketed events through your IHUBApp , setting up a Merchant Account/Payment Processor with Stripe is essential for processing payments seamlessly. Here's a comprehensive guide on how to get started and what to expect in terms of fees.

Before You Begin

Before you can connect Stripe to your IHUBApp, you need to have an existing Stripe account. If you do not have one, here’s how to set it up (you will need to have your banking account information on hand to complete the setup):

Creating a Stripe Account

1. Visit Stripe: Go to the Stripe website (https://stripe.com/) to create an account.
2. Register: Fill in your email, create a password, and provide your country of residence.
3. Verification: Verify your email address through the link sent to your registered email.
4. Set Up Your Account: Enter details about your business and have your bank details ready for registration. This information is crucial for setting up the payment flow and receiving payouts.

Once your Stripe account is active and configured, you can proceed to connect it with your IHUBApp.

Setting Up Your Merchant Account on IHUBApp

Step 1: Access Payment Processor Configuration

To begin, you must navigate to the "Configure" section within your IHUBApp.

1. From the left hand menu, click on your profile.
2. Select 'Hub Administration'
   
   
   
3. Select 'Open Builder' that is found at the bottom of the list.
4. Login to the Builder
5. In the Builder, select 'Configure' > 'Payment processors'
   

Step 2: Connecting with Stripe

Once you're in the Payment Processor section, follow these steps to connect your Stripe account:

1. Under the options for different payment processors, find and select 'Stripe'.
2. Click on ‘Creat/Connect account’. This action will redirect you to the Stripe login page.
3. Enter your Stripe account credentials.
4. You will be prompted to authorize IHUBApp to access your Stripe account. Click ‘Authorize access to this account’ to complete the connection.

Step 3: Configure Payment Options

After linking Stripe with your IHUBApp, configure your payment settings to enable the specific features you need:

• Giving: Set up donation options to allow users to contribute directly through the app.
  See instruction to setup Give page now.
• Tickets: Organize and manage ticket sales for events directly through the IHUBApp.
  Learn more about Event Tickets now.

Understanding Transaction Fees

When using IHUBApp and Stripe, there are specific fees associated with transactions:

• InspireHUB Fees: There is a standard transaction fee of 2.9% imposed by InspireHUB.
• Stripe Fees: Stripe charges additional processing fees. For most transactions, the fee is 2.9% plus $0.30 per transaction. However, Stripe offers discounted pricing for nonprofits:
  • Non-American Express Transactions: 2.2% + $0.30, with an additional 1% fee for international card charges.
  • American Express Transactions: 3.5% per transaction.

It's important to factor these costs into your pricing or budget planning to ensure financial sustainability.

Additional Resources

For further details on how to optimize and utilize the various features available through your Merchant Account/Payment Processor on IHUBApp, you can access more specific instructions on setting up pages for donations and ticket sales by following the help links provided in the IHUBApp documentation or support sections.

By following these steps, you’ll enable a smooth payment experience for your users, enhancing the functionality and financial capability of your IHUBApp.