Make sure you log in to Payrexx before you start - Login
Configuration - Payrexx
In your Payrexx backend, click "Settings > Payment providers >Add new payment providers > Set up Stripe".
Please, prepare the following documents before the registration (this is the full list, do not worry if you have less):
Company representative name (if except company representative, there are people who own more than 25% of the company, provide their name, private address, birthdate and social security number)
Passport photo or identity card (both sides)
Social security number
Company identification number from the commercial register.
Company incorporation date
Legal form of the company
Company VAT number
Bank account information (IBAN+BIC) (bank account has to correspond to the country where the company is registered)
After clicking on "Activate" you will be forwarded to a form. Your Payrexx by Stripe account has been created after you have clicked "Activate" and you can start accepting payments. The entering of the information is mandatory if you would like to transfer payments to your bank account.
You will receive an e-mail from Stripe, that will allow you to log in to your Stripe account and enter the missing information if you were not able to fill out everything during the previous step.
Further Payment Methods
After you set up Payrexx by Stripe as your payment service provider, you can integrate further payment methods such as SEPA, Giropay, SOFORT, iDEAL, Alipay etc. manually in the backend of Stripe (as Payrexx by Stripe works with Stripe).
Stripe payments are made with the credit card acquirer Stripe. Therefore, the payout process works according to the stripe guidelines:
Stripe accepts payments only if the recipient agrees 100% on the transfer with the registered account holder. Therefore it is important to provide the correct payment details and company type when signing up:
Individual entrepreneurs are considered natural persons. Remittances are therefore always directed to the name of the registered "Company Representative" at Stripe. The bank account has to run on the personal name of this person and not on the company name.
Other company types such as Ltd. or Inc. are considered legal persons. Transfers will be sent to the registered company name. The bank account also has run in the company's name and may not be registered on a natural person.
Before you finally receive funds, Stripe will do another proof of identity. Once you verified your account, you can receive funds.
After your customer has successfully completed a purchase, the payment is being controlled by credit card acquirer Stripe - so-called security checks are carried out. This process usually takes at least seven days. Afterwards, the money will be refunded to your Stripe account and then transferred to your bank account (more information on this can be found in the section "Where does the money get paid?") In the settings you can choose at which intervals the money should be transferred to your bank account. You can also choose to pay automatically or manually in said settings:
You can call up this menu as follows: "Payouts > Settings > Payout schedule".
Where is the money being paid?
The money will be transferred from your Stripe account to the bank account you deposited in Stripe's settings. To add a bank account to Stripe, do the following:
Note: Please keep in mind that Stripe does not support various business models. If you work in such an industry, you will not be able to receive payments with Stripe.