Intro to Stripe

Purpose & Use

Purpose:

Stripe is online payment processing for internet businesses. Stripe offers a suite of payment APIs that powers commerce for online businesses of all sizes.

How we use it:

• Payment platform.
• Process sales.
• Process returns.
• Apply account discounts.

Who uses it:

• Finance.
• Customer Service.
• Sales.

Using Stripe

How to Process a Sale

So a customer is ready to process their payment — woo! 💥 Here's how to process a sale in Stripe.

1. Set up a Stripe account and connect it to the business’ bank account.
2. Gather the necessary information from the customer, including their payment method and billing information.
3. Use the Stripe API or a Stripe-powered checkout system to securely collect the customer's payment information.
4. Confirm that the payment information is correct and complete.
5. Process the payment through Stripe, using the customer's payment method.
6. Record the transaction in the business's accounting or financial management system.
7. Provide the customer with a receipt or confirmation of the sale.
8. Monitor the Stripe account for any disputes or chargebacks related to the sale.
9. Address any disputes or chargebacks in accordance with Stripe's guidelines and procedures.

By following this standard operating procedure, we can efficiently and securely process sales using Stripe. This can help to streamline the sales process, reduce the risk of fraud, and improve customer satisfaction.