Teachworks' Stripe Integration supports iDEAL Payments. iDEAL is a Netherlands-based payment method that allows customers to complete transactions online using their bank credentials.
In order to be able to use Stripe's iDEAL Payments feature, you'll need to ensure you meet the following requirement:
- The Currency in your Teachworks account must be set to "Euro".
Enabling iDEAL Payments
- Click on Account & Settings -> Integrations & Add-ons and then click on "Manage" under the Stripe Integration. (If you have not enabled Stripe yet, you can find the steps to do so in the following article: Stripe Integration)
- Enable iDEAL payments in the settings page by checking the "iDEAL" checkbox and saving your changes.
Processing iDEAL Payments
When clients view their invoices with iDEAL enabled, a "Pay by Other Methods" button will be displayed at the bottom of the invoice:
Unlike the other payment methods in the Stripe Integration, such as SEPA Debit or BECS Debit payments, payments made using iDEAL are instant.
They can follow the steps below to complete an iDEAL payment:
- Click on the "Pay by Other Method" button
- In the "Select Bank" field, select the bank they are using to complete the payment
- Enter your first and last name in the "Full Name" field
- Click on the "Pay" button
- iDEAL redirects the customer to their online banking environment to authenticate a payment and there will be an immediate notification about the success or failure of a payment.
The risk of fraud of unrecognized payments is low because the customer must authenticate the payment with their bank. As a result, you won't have disputes that turn into chargebacks, with funds withdrawn from your Stripe account.
iDEAL payments can be refunded up to 180 days after the original payment.