![]() Wex, Stripe, & Direct ACH: Yes, when a channel is the merchant of record, payment occurs at guest check-out ( not at check-in). Merchant code generally reflects the type of business that you. Q: Is there a difference in payment time if certain channels are merchant of record? (i.e. The most common reason behind this is having an incorrect Merchant Code on your Stripe account. Q: Who handles guest cancellations and refunds? Stripe: Funds are reversed from your bank account.ĭirect ACH: Funds will be awarded as a credit from your next payout. Why is my physical credit card (both EMV and magnetic stripe) disabled for. Wex: Funds are debited onto your virtual credit card shortly (?) after. What is the difference between the physical card and digital card only. Q: How are cancellations, refunds, and chargebacks handled? Wex, Stripe, & Direct ACH: VacayHome Connect The China Bank Virtual Card has a different card number printed on a non-mag stripe, non-EMV Chip and non-contactless plastic. ![]() Use Privacy to shield your real card information with automatically generated virtual cards. Stripe: Nothing VacayHome Connect pays a processing fee between 2.5 and 3% Virtual Cards That Protect Your Payments Online Payment Security Trusted by 200k+ users Protect Your Payments Shop privately and securely. Wex: Processing fees are paid by supplier (Mastercard card about 2.5%) Build card programs that scale by offering your own virtual and physical cards online in seconds using the Stripe Issuing API and just a few lines of code. Wex & Stripe: Think of it like a trust, or an escrow account: Wex secures all funds and disburses them directly to you.ĭirect ACH: Automate your accounts receivable (in your PMS) Stripe: Stripe wires your funds directly into your bank account.ĭirect ACH: VacayHome Connect pays you directly. Wex: Wex wires your funds directly into your bank account via your virtual card, which is one-time use per booking. Once your account is connected, you will have access to Stripe’s extranet in order to view and download transactions.ĭirect ACH: It’s a quick connection to your bank account all you have to do is fill out a simple form.ĭirect ACH: Specified in contract terms with VacayHome Connect Stripe: VacayHome Connect sends you a link to create your Stripe online account, which you will use to connect to your bank account. Stripe Enters The Credit Industry With Virtual Charge Cards For Small Businesses Krishi Chowdhary Updated: J 9:39 AM Share Digital finance giant Stripe has introduced a brand. Wex adds those numbers to their merchant processor and automatically charges them for every booking. We then load that payment onto a VCC that you can charge like a regular credit card. If guests choose to pay online, they can do so using their preferred payment method. ![]() Wex: VacayHome Connect sends you virtual card numbers via Wex-facilitated emails. There are important factors merchants must consider when beginning to accept credit/debit card payments through platforms like Stripe and others. Virtual credit cards (VCC) are one of the payment options we offer to streamline the booking process for your guests. Q: How do I start? (What is the process to get going?)
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