How to configure Stripe for payment processing
What is Stripe, and what is it for?
Stripe Inc. is a leading global payment processing company that coordinates with financial institutions, regulators, payment networks, banks and wallet providers, among others. Stripe processes payments (e.g. credit card) quickly and reliably in the background and is not visible to buyers.
In order to accept payments for your products via certain payment methods, such as credit card, we work with Stripe as a payment processor. Therefore, you will need a Stripe account and link it to your Tentary account. The Stripe account is free of charge. Upon account activation, Stripe will verify your identity, similar to opening a bank account online. This is to prevent money laundering, among other things, and is required by law.
Why is so much data requested by Stripe?
Similar to any other bank, Stripe is also subject to money laundering prevention laws. These laws specifically provide for a so-called Know Your Customer (KYC for short) process, which regulates the legitimization of new customers to prevent money laundering. In many cases, these rules stipulate that proof of address and identity must be provided.
More info on the
KYC process at Stripe.
How do I open a Stripe account?
1. Click on "Start configuration" to start setting up a Stripe account.
2. You will be redirected to Stripe.com and asked for information to create and verify your account (see also note above regarding KYC procedures) or log into your existing account.
The steps during your account creation may differ, depending on the data you provide to Stripe.
3. After your account is created at Stripe, you will be redirected back to Tentary. You should see "Pending verification" in your Tentary account and the e-mail address of your Stripe account.
Once you've provided all the information to Stripe and your account is unlocked, click the "Re-check status" link to update the Stripe status in your Tentary account. Alternatively, we will also regularly check the status in the background.
Note: Stripe may email you to request additional documents to activate your account (often proof of address and proof of identity is required). Only when this step is done and your Stripe account is fully activated, the status on Tentary will be updated.
4. Done! Your Stripe account has been activated, and you can accept payments (e.g. credit card) on Tentary.
