- About Stripe
-
Required Information for your Stripe Account
- Creating your Stripe Account
- Confirming if your Stripe Account has been Approved
About Stripe
Stripe is a payment service provider that allows a business to process payment card transactions. As a payment service provider, as opposed to a merchant account provider, Stripe allows a faster setup and approval process, as it functions as the single merchant account for thousands of its businesses that use their service.
Your MealSuite onboarding specialist will enable Stripe as an option for your POS, at which point you can then set up your Stripe account, as per the steps documented below.
Required Information for your Stripe Account
You will require the following information to set up your Stripe account.
Business Details
- Type of business
- Legal business name
- Employer Identification Number (EIN) for USA; Business Number for Canada; Québec Enterprise Number (NEQ) for Quebec
- Registered business address
- Industry
- Business website
- Product description
- Business owner information for anyone who owns 25% of business (USA)
Business Representative
The business representative is the authorized signing authority on the bank account. The following is required for the business representative.
- Name
- Email address
- Job title
- Date of birth
- Home address
- Phone number
- Last four digits of social security number (USA)
Fulfillment Details
Fulfillment details are the details on how you provide products or services.
- Customers are?
- Consumers
- Business
- You sell?
- Physical goods
- Digital goods
- In-person services
- Digital services
- Other products
- When do you customers make their payments?
- Your customers pay before they receive the product or service
- Your customers pay and the product or service is immediately accessible
- Your customers pay after they have received the product or service
Public Details
The public details will be visible in payment statements, invoices, and receipts.
- Statement descriptor - typically the business name. As per Stripe, “The statement descriptor shows up on your customers’ bank or credit card statements. It should be 5-22 characters.”
- Shortened descriptor - also known as a static prefix. A shortened descriptor (or static prefix) is combined with a dynamic suffix, which itself provides specific details about a charge on a statement.
- Customer support phone number
- Customer support address
Bank Details
- The bank account info that payouts from Stripe will be transferred to.
Creating your Stripe Account
Upon being informed by your MealSuite onboarding specialist that your Stripe account has been enabled for POS, you can then set up your Stripe account by following the instructions below.
- In Touch Admin, select POS Settings > Stripe Management. The Stripe Credit Card Management screen appears (screenshot below).
- Click the Onboard Account button (first screenshot below). The Get Started with Stripe screen appears (second screenshot below).
- In the Email field, enter the email of the representative who will be the Stripe account owner, and click the Continue button to create a password and verify the account with two-step authentication with your mobile phone number (or another means, such as an authenticator app or security key).
- Stripe will provide an emergency backup code that can be used to unlock the account. Store this code for safekeeping.
- At this stage you can continue with the account creation process by entering the required information listed above. Any progress you make will be saved. Therefore, if any information is not known or readily available by you, then you can easily return to the setup steps, and then submit when you are ready. To return to the Stripe account setup steps, click the Onboard Account button indicated below.
Confirming if your Stripe Account has been Approved
After submitting the account details to Stripe, then it will be in the approval phase. Typically the approval process takes one to three days.
Login to Stripe.com to confirm if your account has been approved. If you require instructions on how approval is conveyed by Stripe, please contact Stripe or refer to their support articles.