Credit Cards

Auctria supports credit card processing with Stripe.com .

 

Stripe is a tier-1 payment processor that handles all functions for secure transmission and storage of credit card information.  Though the credit card information is entered on our pages, Auctria does not process the payments or handle any funds.  All credit card payment processing flows through your Stripe account, if Auctria is authorized to process charges through this account.

How Does Credit Card Processing Work?

To process credit card transactions through your Auctria account, you will need to have an established account with Stripe. If you don't already have a Stripe account, it only takes a few minutes to complete the sign-up process online.  To fully establish a link with Stripe, you'll need to input your bank account information to allocate where to deposit the funds.  After completing Stripe set-up, our website will thereafter have the authorization to process credit card payments through your newly established Stripe account.

Stripe handles all credit card payment funds.  Auctria is not a part of financial the transaction.  After settlement and transit time, about 10 days after the payment date, Stripe will transfer the funds to your bank account, minus credit card fees..

Understanding the Processing Fees

There are two types of credit card fees:

  1. Stripe processing fees: these range from $0.30 + 2.9% per transaction in North America.
  2. Auctria's processing fee: which ranges from 0.5% to 0.2% depending on your Auctria license level.

In total, credit card processing fees will range from $0.30 + 3.4% to 3.1% per transaction.  Fee deductions will automatically be taken prior to the Stripe deposit into your bank account.  You can review the corresponding fee levels for each credit card transaction in the Credit Card Details report.

Charging Fees to Bidders 

The default on the Auctria program, is to have the auction host organization to absorb the credit card fees.  But there is the option to pass your credit card processing fees onto your bidders.  Here is an example upon which the bidder is charged the credit card processing fees.  If a bidder incurs a total purchase amount of $100, the bidder will actually incur a total charge of $103.81 to cover the $3.81 fee for the credit card processing.  The amount of the processing fee is always shown on the checkout page, so that you can see the precise amount and how it compares with the totals.


Note: the surcharge is slightly more than the fee on a $100 charge.  A charge for $100 would cost $3.70 on the Bronze or Silver plan.  However, if we charge $103.70 then the fees goes up slightly.  So, your net charge would be less than $100.  The amount of $103.81 is what you'd need to charge to be left with $100, after all fees.

You can change the fee handling mode for the auction at the top of the Summary tab on the auction Home page. 

Test and Live Mode

You can set any auction to be either in test mode or live mode.  This is set on the Summary tab of the auction Home page.  When an auction is in test mode, you can only process charges using test credit card numbers.  This can be previewed on the Stripe testing page.  You'll encounter an error if you attempt to enter a real credit card number into an auction that is in test mode.

See Also