How to set up payments on eola
Our goal when building the eola platform was to create a fast, safe and easy-to-use system. In order to keep your payments completely secure, eola integrates with the payment processor Stripe. We are also a PCI compliant company to ensure our partners’ and their customers’ safety.
Here’s a guide on how to set-up payments on eola and get you ready to take bookings online.
Set-up and verification
- After you have created your first activity on the system, a message will pop-up on your main dashboard page that asks you to add your payment details.
- If you follow the link provided, it will guide you through the Stripe set-up and verification process.
- Once you have finished setting up your Stripe account with eola, you are ready to start taking paid bookings.
Tips for setting up your Stripe account:
- The sooner you set-up, the sooner your customers can make payments via the eola platform, and you can receive payouts from us.
- Don’t forget to have your documentation ready as you will need to share information about your business and yourself.
- If you don’t have a registered business and operate as an individual or charity, contact us at support@eola.co so we can help update your Stripe account type.
Payments and refunds
Payments
- When a customer makes a payment via the eola platform, 4% + VAT covers eola’s fees and payment processing costs, leaving 96% to be paid out to you.
- By default, payouts are made to you on Mondays after being finalised on the Thursday before.
- All payments go through AI-based fraud checks by Stripe, which sometimes affects which payments are included in the payout for a specific week.
Refunds
- When a refund is issued, Stripe pays the full amount (100%) of the booking from your virtual Stripe account directly to the customer's bank account.
- We retrieve the 96% that we previously paid out to you by balancing the refunded amount against future booking payments.
- This way we only send payouts to you, and never transfer anything out of your bank account.
- We don’t charge you anything for refunds.
Our payments process is simple and secure. Once you have completed the set-up process, your customers will be able to quickly and easily pay for your wonderful activities online, saving you lots of time and effort.
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