What’s the Right Payment Processing Solution For Your League?
May 5, 2011
In order for an organization to accept online payments through LeagueApps it’s necessary to set up a payment solution. This allows registration revenue to flow right into your bank account!
LeagueApps has integrated with some of the most popular payment solutions to make sure you’re able to choose the right solution for your organization. Here is some information on each option including setup costs, transaction fees and integration steps. Please contact us at 1-800-257-3681 if you would like help to determine the most optimal setup for your organization.
Stripe is the simplest and easiest payment solution to setup. You can be live and accepting payments within minutes! With Stripe there are no setup fees, no monthly fees, no card storage fees, no hidden costs: you only get charged when you earn money. Fees are 2.9% plus 30 cents per transaction.
There is no need to apply for merchant account or payment gateways with Stripe. All you need to do to setup an account is enter your bank information when creating your Stripe account. Payments will flow directly into your bank account once they are cleared. Every day, Stripe transfer the money that you charged seven days previously. Note that all funds are automatically transfered to your account (7 days from time of transaction).
Recommended Merchant Broker (Authorize.net Gateway)
If your organization does not currently have a payment processing solution then LeagueApps can connect you to a merchant broker who will take the time to understand your business and obtain the most attractive and affordable option. Our merchant brokerage partners offer discount prices and dedicated customer setup and service.
The LeagueApps recommended merchant brokers will find the most suitable merchant account for your organization. It will also set up an Authorize.net account at a discounted rate and with no setup fee. These accounts will be created simultaneously all in one process. There are no upfront costs and no long-term contracts.
If this sounds like an interesting option complete this short form. LeagueApps will connect you with a brokerage partner by phone or email and walk you through the application and account setup steps to integrate with your LeagueApps account.
Between the merchant account and gateway fees, you may get rates as low as 2% + 20 cents per transaction. There will also be about $20 in monthly fees. Prices will vary depending on your organization and merchant account partner.
To connect your Authorize.net payment gateway with LeagueApps, enter your API Login ID and Transaction Key in the Merchant Services section under the “Manage Account” dashboard.
Authorize.net Payment Gateway
For organizations with an existing online merchant account, Authorize.net can be used as a payment gateway that hooks into the LeagueApps platform.
The setup cost is $99 and monthly costs are $20 plus 10 cents per transaction. This is in addition to the merchant account fees from your existing provider.
You can create an account directly through the Authorize.net website. You’ll have to contact a service rep to connect your existing merchant account to your new Authorize.net payment gateway.
To then connect your Authorize.net payment gateway with LeagueApps, enter your API Login ID and Transaction Key in the Merchant Services section under the “Manage Account” dashboard.
Paypal Website Payments Advanced and Pro
Website Payments Advanced and Website Payments Pro are paypal products that are a combined merchant account and payment gateway. A Website Payments Pro account is an enhanced version of a standard paypal account so you may still need to apply for a WPP account.
The application process is straight-forward and can be completed online. If you don’t have a federal tax ID number you can still use your personal social security number to complete the application. Paypal will notify you within 2 business days of your organization’s status and will follow up with a phone call for confirmation. Once approved, your organization will be able to accept online payments.
Paypal has a monthly fee. Advanced is $5/month and Pro is $30/month. The only difference is that Pro allows an organization to also collect credit cards by phone through the Paypal Virtual Terminal. There is also a fee per transaction that is between 2.2 – 2.9% + 30 cents. The fee percentage is based on the previous month’s transaction volume. Here is more information on their pricing.
To connect your WPP account with LeagueApps, enter your API Username, API Password and Signature in the Merchant Services section under the “Manage Account” dashboard.
Good Stuff To Know
American Express transactions often have higher rates and even additional monthly fees. Please determine if your organization will accept American Express when you are creating your payment solution.
In the LeagueApps platform you can adjust your accepted credit cards in the Merchant Services section under the “Manage Account” dashboard.
Paypal – Website Payments Standard
LeagueApps doesn not currently support current Paypal’s Website Payments Standard service. This solution is unable to be integrated into your leagueapps website and rather simply links back to Paypal. In addition, there is no way to manage refunds or invoices through the LeagueApps system. For these reasons, we don’t offer this option at this time.
Switching Payment Solutions
Please contact LeagueApps if you would like to switch your payment solution. This is certainly doable and we’ll help you through the process to ensure there is a smooth transition to your new payment solution.