Payments is only available to businesses in the US with US bank accounts. You must also be on a paid Plus level subscription or higher to access Payments.

Payments is not available to any of these restricted types of business. Businesses are reviewed on an individual basis and restricted businesses can include more than listed here.

https://stripe.com/legal/restricted-businesses

Payments is only available in the US.

The payments tool currently supports credit cards, debit cards, and ACH debits (bank transfers). You get to choose which payment methods to accept from your customers.

Yes, payments can be accepted that are denominated in US dollars from outside the US. Global and regional card brands can be accepted including Visa, Mastercard, American Express, Discover, Diners and Japan Card Bureau (JCB).

Payment processing is subject to financial laws and regulations that are aimed at preventing money laundering, funding of terrorism and other illegal activities. To satisfy these regulations, Textedly and other payment service providers are required to verify basic information about the business entity, its primary owners, and the individual who will serve as the authorized representative for the payments account. These obligations are referred to as the “know your customer” (KYC) rules. In addition, Textedly will also use this information to mitigate fraud that could impact you or Textedly.

The payments tool requires your tax identification number to verify your business identity and reports Textedly files with the IRS. Textedly, along with all other payment service providers, are required by the IRS to report the total amount of payments you receive annually. The document required by the IRS is form 1099-K. A completed Form 1099-K will be sent to you by Textedly by January 31 after each calendar year in which payments are processed.

Credit underwriting is a process Textedly uses to determine the financial risk associated with processing your transactions. Textedly needs to understand the goods/services that your business offers, the financial situation of your business, and the potential credit risk of your business.

Textedly will automatically complete this process behind the scenes within the first few days of you utilizing the payments tool. Occasionally Textedly will reach out for additional information or a phone call in order to activate your account fully.

Once completing the underwriting process, you can start accepting payments and your account will be fully activated.

The payments feature is not available in a trial account and you will want to upgrade to a paid Plus plan to test it out.

The payments tool protects your sensitive information using multiple layers of security. The payments tool is powered by Stripe which allows for secure collection and transmission of payment data. To help ensure your sensitive information is secure, all payment information is encrypted and tokenized by Stripe.

Yes, Textedly payments uses infrastructure provided by Stripe, Inc., a leading provider of digital payments infrastructure. Stripe’s infrastructure is certified to comply with the Payment Card Industry’s Data Security Standards (PCI-DSS) Level 1, the payment industry’s highest level of protection.

With most traditional payment processors, businesses that accept card payments are required to annually validate their compliance with PCI by submitting documentation and undergoing network vulnerability scans. With the payments tool, Stripe acts as the payments processor, which means that unless you separately process card data, you are not exposed to card data and are therefore not required to validate your compliance with PCI.

The Payments feature is free to have- that means no monthly charge or activation fees. Textedly charges a fee for each transaction, so you only pay for the service when it's used.

To access payment processing rates in your Textedly account:

Fees for payments are automatically deducted from each transaction so you will not receive an invoice. You can view the fee for each transaction by navigating to Activity tab within the payments feature and click on a transaction.

Textedly does not charge a fee for processing a refund but we are not able to refund the fee associated with the original transaction.

There is no limit to the number of transactions that can take place, though the maximum individual transaction size is $100,000.

There is also a maximum dollar amount per month that applies to each account, which is determined through the underwriting process and communicated to you in your welcome email.

The payments feature’s infrastructure is provided by Stripe which is then hosted on Textedly. Stripe is responsible for secure processing, transmission, and storage of sensitive payment information. Textedly does not store your sensitive information directly and only surfaces certain tokenized or partial information about transactions in your Textedly account. You are not able to use an existing Stripe account with the payments tool. When setting up payments, you will be navigated to Stripe to enter your company information and verify your identity. This is not creating a Stripe login and you will not need to access Stripe in the payments tool again.

The payments tool is powered by Stripe but since it is hosted on Textedly, you do not need to connect your Stripe account. You can send your customers to a checkout page with all of your own branding. The payments tool offers you flexibility with supporting more payment options and recurring payments. Once you have received payment, you can manage this directly in Textedly in the payments tool instead of logging into a separate Stripe account.

You are not able to connect an existing stripe account to the payments tool or migrate data over from an existing account.

A chargeback is a reversal of a card transaction where funds are forcibly removed from a business’s account and returned to a customer’s account after the customer submits a dispute with their bank. It is a forced refund from the seller to the buyer. When a customer disputes a charge with their bank, the bank will react with one of the following actions.

There are only certain reasons permitted for a cardholder to start a chargeback, which include

The cardholder only has 120 days from the transaction date to initiate a chargeback in most cases.

You will be notified of a chargeback via email by Textedly’s payments risk team. If you do not believe the reasons for the chargeback to be valid, Textedly will assist you in challenging the chargeback. Textedly will handle all communications with the card networks on your behalf and inform you of the outcome.

If you decide to challenge the chargeback you must respond quickly. Most card networks only give you a 20 day response window from the chargeback date before it is final.

If the card network decides that the chargeback is valid, Textedly will recapture the amount of the original transaction by deducting it from your future payouts or debiting from your bank account. You do not need to issue a refund for the chargeback amount on your end, the cardholder’s bank will issue a credit for the disputed amount. The cardholder should contact their bank for status updates on the refund.

Some steps you can take to prevent chargebacks related to goods and services are:

Automated Clearing House (ACH) returns happen when a transaction cannot be processed as intended. These transactions can fail or be reversed later for a variety of reasons. An ACH return that initially fails can be contributed to one of the following reasons:

An ACH transaction that does go through initially may be reversed later for the following reasons:

Textedly’s payments risk team with notify you via email of any ACH returns. You will be notified within 5 business days of the transaction date if an upfront failure occurs.

For ACH transactions that go through successfully and are then reversed later, Textedly will notify you via email as soon as the team is aware of it.

According to ACH rules, you have a two business day window for a business bank account holder to reverse an unauthorized transaction. However, a customer bank account holder has up to 60 calendar days from the original transaction date.

To resolve an ACH return, you will need to contact your buyer directly to determine a resolve and getting an alternative form of payment. If your attempts to resolve this with the buyer directly are not successful, your other option is to take legal action against the buyer. To retrieve buyer authorization for evidence against false claims that the transaction was not authorized, you can navigate to the transaction history tab in your payments settings.