If you would like to change your online payment processor please take a look at the information here.
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Firstly, why do we use Stripe?
We trust Stripe to take care of our payment processing for all of our clients and to handle in-store payments safely and securely. Stripe are fully PCI compliant and are the trusted payment processor of massive companies such as Deliveroo, H&M and Booking.com.
Please see more information on that here 😊 https://stripe.com/gb/guides/pci-compliance
Stripe is fully integrated with Slick so you can take deposits, store card details, charge deposit for online bookings, charge card remotely and split payments into self-employed bank accounts via our SlickPay reader in-salon.
How does it work?
Why are Stripe fees what they are through Slick?
None of the payment functionality can be done with Stripe’s standard payment platform as all that offers is “payment links for products” eg for e-commerce websites. So to use “standard Stripe” for deposits, you would have to set up hundreds of payments links for each deposit amount £50, £55, £60, £65, £70 etc.
A team member would manually have to calculate what deposit every client needs to pay, send them a payment link to each client to pay their deposit and then manually track who has paid their deposit and add that information to the appointment so it’s deducted at checkout!
It’s not possible to take online deposits as there is no way for stripe to know how much the appointment costs at time of booking and therefore apply the right payment link for the client to pay the right deposit amount.
Slick does ALL of this automatically.
We have built a system designed for tracking the life cycle of a deposit - attributing it to the right appointment for use in checkout and correct attribution in revenue reports. We also allows clients to partially use deposits or leave them on profile for next time and use them as no-show fees. Stripe has no capabilities for this.
This is the reason our fees may be higher than Stripe’s advertised rate of 1.5% +20p as that is just for basic e-commerce, not a fully integrated booking platform that tracks deposits by appointment & client.
Please note that Stripe charge Slick 0.25% + 10p per payout and £2/month per Stripe account for you (as shown on this page) so this also has to be recovered in our fees.
If you have further questions that haven't been answered in this article then please reach out to us on Live Chat via the chat bubble in the bottom right corner!