Stripe

Stripe

Swift partners with Stripe (opens in a new tab) to provide seamless online payment processing - making it easier for you to manage your facility's finances. By connecting your Swift account with Stripe, you can easily manage memberships (subscriptions), one-time payments, and get detailed financial reports.

Here, we'll walk you through the benefits, setup process, and key features of our Stripe integration.

Benefits of Integrating Stripe

Integrating Stripe with Swift brings several advantages:

  • Streamlined Payments: Automate one-time or recurring billing (for memberships & subscriptions) for uninterrupted access to your facilities.
  • Enhanced Security: Benefit from Stripe's industry-leading security measures to protect your transactions & detect fraud.
  • Real-Time Reporting: Access real-time financial data within your Stripe Dashboard (opens in a new tab) to make informed decisions on your business.
  • Point of Sale Terminal: Accept payments in-person with the Stripe POS Terminal

Getting Started

Let's take a look at what's involved in getting started with Stripe using Swift.

Connecting Your Stripe Account

First, we'll create a new Stripe account and/or connect to an existing account within Swift.

To do this:

  1. Log in to your Swift dashboard.
  2. Navigate to the Settings > Payouts section.
  3. Click on Setup Stripe Account and follow the on-screen instructions to link your account.

Be sure to have your business details handy when doing this, as Stripe will require this information for an identity verification. This includes information like:

  • EIN or business number
  • Incorporation structure (LLC, sole proprietorship, etc.) and contact information of business partners & owners
  • Bank account details (routing number, institution number, etc.) to route payouts

Please note that Stripe has now changed its policies around security and verification. When connecting to Swift, users are now required to do an ID verification. Please have your phone and a piece of ID ready to complete this process.

If you're creating a new Stripe account, please refer to the video below. The Swift team still recommends that you have all the information mentioned above on-hand to complete this process.

Setting Up Online Payment

Once you've connected your Stripe account, we can now turn on online payments in Swift. Stripe supports multiple payment methods including credit cards, debit cards, Google Pay, and more - and all of these options will now become available to you and your customers through Swift.

This is as simple as turning on a toggle!

Just follow these steps:

  1. Go to your Stripe Dashboard.
  2. Select Settings > General.
  3. Under the "Payment Methods" section, turn on Reserve and Pay Online

If you want customers to pre-pay for all their bookings and purchases, you can turn off "Reserve and Pay In-Person" and this will hide that option from your customers on your booking page.

Understanding Stripe's Payout Process

Payouts are automatically transferred to your bank account on a rolling basis. You can customize your payout schedule in your Stripe Dashboard under Settings > Payouts.

Generally, the first payout tends to take longer (5-7 business days) because Stripe is performing an identity verification on your business. After that, payouts generally can happen as quickly as 1-3 business days.

Features and Functionalities

With our Stripe integration, you can:

  • Accept Payments: Easily process payments for bookings, memberships, and merchandise.
  • Manage Subscriptions: Automate recurring payments for facility memberships.
  • Offer Discounts and Coupons: Coupons created in Swift sync to Stripe's coupons feature, so you can use it to attract new customers & promote your programs
  • Generate Financial Reports: Access detailed reports for a comprehensive view of your finances.

Compliance and Security

We prioritize your security and compliance with financial regulations. Our integration uses Stripe's secure payment processing and adheres to PCI DSS standards, ensuring that your transactions and customer data are protected.

Support and Resources

For more assistance:

PayoutsPoint of Sale (POS) Terminal