Account

Stripe Connect

Stripe Connect is the payment infrastructure powering Summon’s operator payment experience. It allows operators to connect their own Stripe accounts to manage payments, receive payouts, and maintain full control of their revenue streams. Below is a detailed explanation of how Stripe Connect works, its benefits, and the steps required to set up an account.

For Operators Without a Stripe Account

Operators who do not have a Stripe account can easily create one during the onboarding process. Here’s how:

  1. Account Creation: Operators will be prompted to provide their legal name, business name, email address, and bank account information. Stripe may also request additional details such as tax identification numbers (EIN in the U.S.), proof of address, or government-issued IDs.

  2. ID Verification: To comply with financial regulations, Stripe requires personal or business identification to activate accounts.

  3. Approval Timeline: In many cases, Stripe activates accounts within minutes. However, verification could take longer if additional documentation is required.

  4. Ongoing Requirements: While initial activation is quick, Stripe may request more detailed documentation over time as part of its compliance process.

For Operators With a Stripe Account

Operators who already have a Stripe account can link it directly to Summon during setup. This process ensures seamless integration and immediate access to payments and revenue insights.

How to Connect Stripe to Summon in the App

  1. Admin-Only Access: Only admin users can connect a Stripe account.

  2. Navigate to the Account Tab: Open the Summon app and tap on the “Account” tab in the bottom navigation bar.

  3. Stripe Section: Locate the “Enable Mobile Payments” section.

  4. Connect Stripe: Tap the “Connect” button to begin the process.

  5. Log in or Create a Stripe Account:

    • Existing Stripe users can log in to link their account.

    • New users will be directed to create a Stripe account by providing personal and business information such as legal name, business name, email, bank details, and any required documentation.

  6. Complete the Connection: After successfully connecting, the section will display a “Connected” status, and the button will update to “Access Account.”

Note: This connection applies across all locations within the operator’s Summon account, making it easy to manage payments for multiple venues.

Payout Details

  • First Payout Delay: Initial payouts may take up to 7 business days while Stripe reviews the account and assesses risk.

  • Subsequent Payouts: Once the account is approved, payouts can occur daily, weekly, or monthly, based on the operator’s preferences.

  • Faster Payouts: Stripe may accelerate payouts for operators with consistent activity and low chargebacks.

  • Account Verification Impact: Missing documentation could result in payout delays. Operators are encouraged to provide all requested information promptly.

Avoiding Chargebacks and Building Trust

  1. What is a Chargeback? A chargeback occurs when a customer disputes a payment. Stripe deducts the amount and a dispute fee from the operator’s balance.

  2. How to Avoid Chargebacks: Issue clear receipts and invoices, maintain detailed records of transactions, and ensure excellent customer service and timely dispute resolution.

  3. Building Trust: Accounts with fewer chargebacks and consistent transaction activity are more likely to qualify for faster payouts and advanced features.

Integration with Summon

  • Seamless Customer Experience: Payments happen directly within the Summon app. Customers are not redirected to external payment pages, ensuring a smooth and secure checkout process.

  • Centralized Reporting: Operators can track revenue, payments, and fees directly from their Stripe dashboard, gaining full visibility into financial operations.

  • Scalable Infrastructure: Stripe’s robust platform supports high transaction volumes, allowing operators to grow without worrying about payment limitations.

By leveraging Stripe Connect, Summon enables operators to manage their payment systems efficiently, securely, and transparently, offering a best-in-class experience for both operators and customers.