Payments
Most groups sell things. The types of things that groups can sell are
- Membership & Renewals (annual)
- Merchandise (one time)
- Event Registrations (one time)
- Event Tickets (one time)
All of these types of sales transactions occur using credit cards.
Middletwin uses a company called Stripe to process your customers credit cards. Note that on your customers bank account statements they will see a charge to your groups name.
Fees
Stripe charges us a fee for processing each transaction. The fee can vary between the different payment method types (Visa, Discover, AMEX, etc…). On average this is around 3.5%. We automatically calculate and withhold this fee from every transaction.
Returns
If someone makes a purchase from your group but later decides they want to return that purchase, you need to have a policy in place so that you know how handle the return. Most groups will want to make an “all sales final” policy, eliminating the need to process returns. In the event that you need to process a return you will need to login to your groups stripe account (at www.stripe.com), find the transaction, and refund it. If you cannot do this for some reason you can contact support@middltwin.com with details about the purchase. Note that you will still be responsible for all the transaction fees.
Payouts
Our payment processor, Stripe, will process all the payments that your club members make and deposit those funds into your groups bank account. You can log into your Stripe account and view these payout, run reports, and get any other details that you need from Stripe.
Setting up your own
Note that we are always evaluating our process and may have other options for payment and payouts in the future.