Wave/Stripe credit card payments

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Dotty
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Post by Dotty »

Tivoli wrote:I apologise if I am being a pest but I could really do with some advice in layman's terms as I do not understand terms like API or SSL.

So far I have signed up with freetobook but am struggling with that because my cancellation policy does not fit with their options and so I cannot proceed to complete my profile. They tell me that there should be a 'Help' button top left of my screen but it isn't there.

They tell me that “We can add additional free format text to supplement the policy if you provide it to us - this will then show during the booking process under an extra box.” but I have no idea how to provide them with that so I am trying a different tack.

Apparently Stripe costs £89 per annum but I have a feeling that Wave is my better option. The Wave website says “Our simple fee structure is easy to understand and honest. There are no monthly fees, no setup fees, and no surprises.“ So why would I want to pay Stripe £89pa?

Am I missing something here? Can I simply sign up to Wave and have credit cards processed at 1.4% + 0.25€ job done?
I can't answer all your questions, but.....

I have free-to-book. I have added that to my PMP website. So if anyone wants to do an online booking via the website they can. By filling in their details they get the pricing info, including any extras they want to reserve. As I recall in free-to-book when you are filling in the details on their site there is some code generated which you just have to copy and paste into the appropriate place in the PMP setup.

The way mine is set up I can't do cc payments at the same time as the online booking.

I have also recently set up wave/stripe and done a simple test. I prefer payment by bank transfer, but acknowledging now that people probably prefer to pay by cc, so when I next get a booking where guest expresses preference for paying by cc I will trigger a wave invoice to go to them requesting the cc payment. The charge for this is to have credit cards processed is just 1.4% + 0.25€ each time.

As it stands I don't think that the cc payment can be done directly with the PMP setup because of needing these extra security levels which PMP doesn't allow.

(It MAY be possible, I really don't know and didn't want to pay the £89+vat annually to find out, that if you go for stripe via the free-to-book route rather than wave, that it is more integrated into their on-line booking procedure.)

If you want to see what it looks like on my PMP site the link is www.laroqueholidayvilla.com
Last edited by Dotty on Mon Aug 22, 2016 12:03 pm, edited 1 time in total.
ManxRed1
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Post by ManxRed1 »

Tivoli wrote:Can I simply sign up to Wave and have credit cards processed at 1.4% + 0.25€ job done?
That's what I'm hoping too, if someone can answer this.
Dotty
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Post by Dotty »

Just to add the 1.4% is for UK/EU cards. Its slightly more for cards issued in the rest of the world.
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kevsboredagain
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Post by kevsboredagain »

ManxRed1 wrote:
Tivoli wrote:Can I simply sign up to Wave and have credit cards processed at 1.4% + 0.25€ job done?
That's what I'm hoping too, if someone can answer this.
Yes
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NeatandPicky
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Post by NeatandPicky »

With WaveApps/Stripe they charge 1.4% + 20p off the invoiced total, which means you need to add 1.42% + 20p to the payment you want to receive.

When I made my WaveApps invoice templates I entered a 'tax' which I called 'card fee' which is calculated as 1.42% automatically. (So what I receive is 20p less than what I get if guests pay by bank transfer - I'm happy with that as it keeps the invoice generation simple.)

As I learned on here, you are not allowed to make a profit on card payments.
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NeatandPicky
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Post by NeatandPicky »

Sorry - yes - just sign up to WaveApps/Stripe and get the card processing for the fee stated. There is no monthly subscription.

And if a guest pays by bank transfer, I edit the invoice in WaveApps to remove the card fee, record their 'manual payment' to 'cash on hand' and send them a nice-looking receipt.
Tivoli
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Post by Tivoli »

Thank you! Thank you! Thank you! I can't be bothered with all the faff that freetobook seems to involve and I am not too bothered about the 1.4% or the 25 cents because those charges are way lower than PayPal. I prefer bank transfers of course, which only incur a flat charge of 3€, but if it makes a punter's life easier to book then what the hell!
Dotty
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Post by Dotty »

Actually stripe pay you the money by bank transfer on a rolling 7 day schedule so if your bank charges to receive a transfer then you may still be subject to the €3 fee each time too.
COYS
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Post by COYS »

Does anybody know if there is a facility or process available to refund (security deposits etc) the other way? Can't find anything in FAQ & have no immediate need but it would be prudent to cover as many bases as possible.
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NeatandPicky
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Post by NeatandPicky »

You can cancel a WaveApps/Stripe payment like you can with PayPal and the fees are refunded... I have done this a couple of times now. To make this easier I'm taking the security bond separately. Not sure if you can make a partial refund if you took the rental balance and security bond together.

In WaveApps Help search for 'how to refund a credit card payment in Stripe'.
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NeatandPicky
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Post by NeatandPicky »

Oh - I've just seen that you can make a partial refund, so I could make life easier for myself by putting the rental balance and security bond together in one invoice (as I do with bank transfers).

Here are the steps to issue a refund of a credit card payment in Stripe:
1. Go to the grey gear icon in your Wave account to access your Accounting Settings.
2. Select Payments.
3. Click on the Manage button. This will take you to your Stripe account.
4. Click Payments on the left side and choose the payment you would like to refund.
5. Click on the Refund Payment button
7. You will then see a pop-up that will allow you to select a partial refund, or a full refund.
*Tip: There is no fee for processing a refund. You will be refunded all processing fees on the original transaction. This is something most payment processors will not offer a small business and only make available to the really big businesses processing hundreds of millions of dollars a year in credit card payments. See more information on Stripe's support document on Refunds.
8. You will then have to delete the transaction record of the initial payment and the Stripe fee transaction. Go to the Transactions page in Wave to locate the transaction records, then delete them.
You're done!

You can issue a refund at any time up to 90 days after the charge.
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NeatandPicky
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Post by NeatandPicky »

Just noticed that there's no step 6! Just a numbering error in Wave's instructions.
COYS
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Post by COYS »

Thanks NeatandPicky, most helpful.

Just to post the support answer to my own query re: slow data entry.

It appears that "Waveapps isn't optimised for use with iPads & hasn't been tested. If you are experiencing slow or non responsive entry we suggest you use a desktop or laptop. We recommend the following browsers - Chrome, Firefox, Safari."

Not sure if the same applies to iPhones/smartphones as well, but at least their support system is helpful & efficient.
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Sam V
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Post by Sam V »

COYS wrote:Thanks NeatandPicky, most helpful.

Just to post the support answer to my own query re: slow data entry.

It appears that "Waveapps isn't optimised for use with iPads & hasn't been tested. If you are experiencing slow or non responsive entry we suggest you use a desktop or laptop. We recommend the following browsers - Chrome, Firefox, Safari."

Not sure if the same applies to iPhones/smartphones as well, but at least their support system is helpful & efficient.
I've used the wave app on my iPhone with no issue
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Tivoli
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Post by Tivoli »

Dotty wrote:Actually stripe pay you the money by bank transfer on a rolling 7 day schedule so if your bank charges to receive a transfer then you may still be subject to the €3 fee each time too.
Thanks Dotty! Duly noted. I will see how it pans out and maybe adjust pricing accordingly. However, the first hurdle is for WaveApps to add the National Bank of Greece to their partnerships (or whatever the correct term is) and the second is to actually get some enquiries that lead to bookings!
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