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Payment Processing

BookWish uses Stripe to securely process customer payments for your bookstore. This guide explains how payments work, fees, payouts, and managing your payment account.

How Payment Processing Works​

Payment Flow​

When a customer orders from your store:

  1. Customer Checkout: Customer enters payment info on BookWish
  2. Payment Authorization: Stripe authorizes the charge
  3. Order Confirmation: Customer receives order confirmation
  4. Payment Capture: Charge is captured (processed)
  5. Funds Held: Stripe holds funds briefly for processing
  6. Payout: Funds transferred to your bank account

Payment Methods Accepted​

Customers can pay with:

  • Credit cards (Visa, Mastercard, American Express, Discover)
  • Debit cards
  • Digital wallets (Apple Pay, Google Pay)
  • Other payment methods supported by Stripe in your region
Stripe Integration

BookWish is integrated with Stripe for payment processing. You'll need a Stripe account to accept payments. Set up is handled during store creation.

Stripe Account Setup​

Creating Your Stripe Account​

During store setup:

  1. You'll be prompted to connect Stripe
  2. Click Connect with Stripe
  3. Either create new Stripe account or connect existing one
  4. Complete Stripe's verification process:
    • Business information
    • Bank account details
    • Tax identification
    • Identity verification

Stripe Verification Requirements​

Stripe requires:

  • Business Details: Legal business name, address, type
  • Bank Account: Where payouts will be deposited
  • Tax ID: EIN (for businesses) or SSN (for sole proprietors)
  • Identity: Government-issued ID for verification
  • Business Documents: May be required for some businesses
Verification Time

Stripe verification can take 1-3 business days. Plan ahead to ensure you can accept payments when you launch.

Stripe Account Types​

Individual/Sole Proprietor:

  • Simplest setup
  • Use personal SSN
  • Personal bank account
  • Suitable for small stores

Business/Corporation:

  • Requires EIN
  • Business bank account
  • May need additional documentation
  • For registered businesses

Payment Fees​

Stripe Processing Fees​

Stripe charges per transaction:

Standard US Rates (as of 2024):

  • 2.9% + $0.30 per successful card charge
  • No monthly fees
  • No setup fees
  • No hidden fees

Example:

  • Customer purchase: $50.00
  • Stripe fee: $1.75 (2.9% of $50 + $0.30)
  • You receive: $48.25
International Rates

Fees may vary for international cards, currency conversion, or other payment methods. Check Stripe's pricing for your region.

BookWish Platform Fees​

BookWish charges a platform fee for each transaction:

Platform Fee: Contact BookWish for current platform fee structure

This fee covers:

  • Platform maintenance and development
  • Customer support
  • Infrastructure and hosting
  • Feature updates

Fee Calculation​

Complete Fee Breakdown Example:

Customer Order:           $100.00
- Shipping:                 $5.00
- Tax:                      $8.00
Total Charge:            $113.00

Stripe Fee (2.9% + $0.30): -$3.58
BookWish Fee (example):    -TBD
Your Payout:              ~$109.42

Fees are deducted automatically before payout.

Viewing Fees​

See fees in your Stripe Dashboard:

  1. Log in to Stripe Dashboard
  2. Navigate to Payments
  3. Click any transaction
  4. View detailed fee breakdown

Payouts​

Payout Schedule​

Default Schedule:

  • Frequency: Daily automatic payouts
  • Timing: 2 business days after transaction (standard)
  • Weekends: Payouts process on business days only

Example Timeline:

  • Monday sale → Wednesday payout
  • Friday sale → Tuesday payout (skips weekend)

Payout Methods​

Bank Transfer (ACH):

  • Free
  • 2-3 business days
  • Standard for US stores

Instant Payouts (if available):

  • Small fee (typically 1%)
  • Funds in minutes to hours
  • Requires eligible debit card
  • Subject to limits

Changing Payout Schedule​

In Stripe Dashboard:

  1. Go to Settings > Payouts
  2. Choose schedule:
    • Daily (recommended)
    • Weekly (specific day)
    • Monthly (specific date)
    • Manual (on-demand)
Manual Payouts

Manual payouts require you to request each payout. Not recommended for most stores as it adds administrative burden.

Payout Failures​

If a payout fails:

  • Notification: Stripe emails you
  • Common Causes: Invalid bank info, closed account, bank rejection
  • Resolution: Update bank details in Stripe
  • Retry: Stripe retries automatically after update

Managing Your Stripe Account​

Accessing Stripe Dashboard​

  1. Log in to your BookWish store admin
  2. Navigate to Settings > Payments
  3. Click Open Stripe Dashboard
  4. Or go directly to dashboard.stripe.com

Key Stripe Features​

Payments:

  • View all transactions
  • Search and filter orders
  • Issue refunds
  • Export payment data

Customers:

  • View customer payment info
  • See customer purchase history
  • Manage saved payment methods

Payouts:

  • View payout history
  • Download payout reports
  • Reconcile transactions to payouts

Disputes:

  • Handle chargebacks
  • Upload evidence
  • Track dispute status

Refunds​

Processing Refunds​

To refund a customer:

From BookWish:

  1. Navigate to Orders
  2. Find the order to refund
  3. Click Refund Order
  4. Choose full or partial refund
  5. Confirm refund

From Stripe:

  1. Go to Stripe Dashboard > Payments
  2. Find the transaction
  3. Click Refund
  4. Enter amount
  5. Confirm

Refund Timeline​

  • Funds returned: 5-10 business days to customer
  • Fees: Stripe's 2.9% fee is NOT refunded, but $0.30 is
  • Your account: Funds deducted from next payout or balance

Refund Best Practices​

When to refund:

  • Customer cancels within policy window
  • Wrong item sent
  • Item damaged or defective
  • Customer not satisfied (case-by-case)

How to handle:

  • Respond to refund requests quickly
  • Document reason for refund
  • Consider partial refunds when appropriate
  • Learn from refund patterns

Disputes and Chargebacks​

What is a Chargeback?​

A chargeback occurs when a customer disputes a charge with their bank:

  • Customer claims unauthorized charge
  • Customer claims didn't receive item
  • Customer claims item not as described

Chargeback Process​

  1. Notification: Stripe notifies you of dispute
  2. Funds Held: Amount + dispute fee held from payouts
  3. Evidence Deadline: You have limited time to respond (typically 7-21 days)
  4. Submit Evidence: Upload proof of delivery, communication, etc.
  5. Bank Decision: Card issuer reviews and decides
  6. Resolution: Funds returned to you (if you win) or customer (if you lose)

Chargeback Fees​

  • Stripe charges: $15 per chargeback (even if you win)
  • Lost disputes: You lose the transaction amount + fee
  • Won disputes: You get transaction amount back, but fee remains

Preventing Chargebacks​

Best Practices:

  • Clear product descriptions
  • Accurate shipping timelines
  • Proof of delivery for all orders
  • Excellent customer service
  • Respond to customer issues before they escalate
  • Keep detailed records of all transactions

Evidence to Keep:

  • Order confirmations
  • Shipping tracking numbers
  • Delivery confirmations
  • Customer communications
  • Photos of items shipped

Tax Calculation​

Stripe Tax Integration​

BookWish uses Stripe Tax to calculate sales tax:

How it works:

  • Automatically calculates tax based on customer address
  • Applies correct state/local rates
  • Updates as tax laws change
  • Handles multi-jurisdiction sales

What you need to do:

  • Enable Stripe Tax in your Stripe account
  • Register for sales tax in states where required
  • File and remit collected taxes

See your tax professional for guidance on sales tax obligations.

Tax Reporting​

Access tax information:

  • Stripe Dashboard: Download tax reports
  • Invoices: Tax included in transaction details
  • Tax Forms: 1099-K issued by Stripe if you meet thresholds

Payment Security​

PCI Compliance​

BookWish + Stripe handle PCI compliance:

  • Stripe: PCI Level 1 certified (highest level)
  • BookWish: Does not store card details
  • You: No PCI compliance burden

Secure Transactions​

Security measures in place:

  • Encryption: All payment data encrypted in transit
  • Tokenization: Card numbers replaced with tokens
  • Fraud Detection: Stripe's machine learning fraud prevention
  • 3D Secure: Additional authentication when required

Fraud Prevention​

Stripe automatically:

  • Scores transactions for fraud risk
  • Blocks high-risk transactions
  • Challenges suspicious orders with 3D Secure
  • Monitors for unusual patterns

You can:

  • Set custom fraud rules in Stripe
  • Review flagged transactions before fulfillment
  • Block suspicious customers
  • Report confirmed fraud

Reporting and Reconciliation​

Payment Reports​

Generate reports in Stripe:

  • Balance: Current balance and pending payouts
  • Payouts: Detailed payout history
  • Transactions: All charges, refunds, fees
  • Tax: Tax collected and remittance data

Reconciliation​

Match BookWish orders to Stripe payouts:

  1. Export orders from BookWish
  2. Export payouts from Stripe
  3. Match transaction IDs
  4. Account for fees and refunds
  5. Verify totals match
Accounting Integration

Consider using accounting software that integrates with Stripe (QuickBooks, Xero, etc.) for automated reconciliation.

Troubleshooting​

Payment Declined​

If customer's payment is declined:

  • Customer responsibility: Have them contact their bank
  • Your role: Suggest trying different card or payment method
  • Stripe insight: May show decline reason in dashboard

Common decline reasons:

  • Insufficient funds
  • Card expired
  • Incorrect card details
  • Bank fraud prevention
  • International card restrictions

Payout Delayed​

If your payout is late:

  • Check Stripe Dashboard: Look for issues or notifications
  • Bank holidays: May delay ACH transfers
  • Verification needed: Stripe may require additional info
  • Account issue: Resolve any Stripe account problems

Missing Transactions​

If a transaction doesn't appear:

  • Check Stripe Dashboard: May be there even if not in BookWish
  • Verify timeframe: Ensure looking at correct date range
  • Test vs. live mode: Ensure in correct Stripe mode
  • Contact support: Report discrepancy

Getting Help​

Stripe Support​

For payment processing issues:

BookWish Support​

For integration or order issues:

  • Email: support@bookwish.com
  • Documentation: This guide and others
  • Store Settings: Check connection status

Next Steps​

Monitor Your Payments

Regularly review your Stripe Dashboard to stay on top of payments, catch issues early, and understand your revenue flow.