FAQs About Payments
Crowdfunding on Shine Registry
- What is Stripe?
- How to connect a Stripe Account to Shine Registry
- Does Shine Registry charge fees for crowdfunding?
- How do I set up a personal or organizational account with Stripe to collect payments or gifts for an event?
- Are there tax implications to accepting payments or gifts through Stripe?
- Which countries are supported for card payments using Stripe on Shine Registry?
What is Stripe?
Stripe is a payment processor used in over 100 countries. Shine Registry users with a Stripe account can choose to receive payments from supporters using Stripe.
To find out more about stripe please visit www.stripe.com
How to Connect a Stripe Account to Shine Registry
By adding Stripe as a payment option to your page you will see an additional payment option titled ‘Card’.
When a supporter decides to donate to your page they will see a popup box when confirming their fulfilments on your profile.
Once signed in to your Shine Registry account select “Accept Payments” on your dashboard page.
A new tab will open, you now have two options:
Sign in with an existing Stripe account to connect to your Ko-fi account (at the top right of the page).
Or click the "Don't have an account? Sign up" button under the login area to create a new Stripe account.
Signing up to Stripe
If you are creating a new Stripe account you will be asked to complete a registration form. Please refer to Stripe directly for any issues you may have creating an account.
One final field to consider is the “Business Name” field. The details entered in this field will be shown on your donators bank statement. This can be changed at any time once the account has been created.
Once you have filled in the form scroll to the bottom of the page and click the “Authorize access to this account”.
This should now re-direct you back to your Shine Registry page and your account will now be successfully connected to Stripe!
If you have any issues creating your Stripe account, please follow the link below for further assistance: https://support.stripe.com/contact/
Does Shine Registry charge fees for crowdfunding?
Shine Registry does not charge users to create a profile. There are fees associated with setting up Stripe on your account and Shine Registry takes a processing fee to support our growth and development.
How do I set up a personal or organizational account with Stripe to collect payments or gifts for an event?
While Stripe's account creation language is business-centric in some cases, Stripe is equally easy to setup and use for individuals or non-profits.
You will need to complete the 'Account Application' to accept and process payments of any kind. Enter in details about why you're collecting payments. If accepting monetary gifts for office supplies, for example, enter something like:
"Accepting monetary gifts to purchase new office supplies."
If for a non-profit event, for example:
"We're accepting donations for my organization's upcoming event. Our organization is called Pets First."
Enter any personal, professional or Shine Registry profile web address.
If accepting payments personally, select Individual / Sole Proprietorship. Enter your Social Security Number as the Tax ID.
If accepting payments for your non-profit or student organization and you don't have a Tax ID, select Individual / Sole Proprietorship. Enter a Social Security Number of an organizational board member or executive.
You, the Business Representative
Enter your personal details. If accepting payments for your non-profit or student organization, you must enter the personal details of an authorized board member or organization executive.
Credit Card Statement Details
Make this something that your guests will readily recognize as associated with you or your event. Examples...
John and Jane Doe
Monrovia Student Council
Pets First United
Alpha Zi Delta Sorority
Are there tax implications to accepting payments or gifts through Stripe?*
While Stripe's setup is indeed (and unfortunately, for private users) business-centric in some cases, Stripe operates just like PayPal and other online payment leaders and is hugely popular among private individuals and small organizations as well as businesses.
While by no means tax advice, and you should consult your tax or accounting professional, the same local and federal laws in your country and region should apply to payments processed by Shine Registry and the Stripe platform as would apply to payments processed by other means.
A non-taxable gift received offline should also not be taxable if the payment is received online; Monetary gifts received through Stripe should have the same tax implications (in most cases, none) as cash gifts received through other means
Payments accrued for a private or not-for-profit event that is otherwise non-taxable should also not be taxable if these payments are processed online
(Legally, Stripe does need to ask for a piece of personal information such as SSN or organizational tax ID in case payments processed are taxable and a governmental entity inquires.)
In summary, regardless of the online or offline platform used for payment collection, the same tax laws in your country and region should apply. Consult a local tax professional for more information.
*Shine Registry is not a tax advisory entity, and the above should not be regarded as tax or legal advice. Shine Registry is not responsible or liable for failure to comply with local, state or Federal laws applicable to you or your organization, and you should seek professional advice for your event, organization or use case.
Which countries are supported for card payments using Stripe on Shine Registry?
All card payments on Shine Registry will be processed by Stripe. Stripe can process payments from around the world, in many currencies. However, to open a Stripe account to accept payments you must be in one of Stripe’s approved countries:
For more information regarding Stripe and their international support, please click here. The link provides up-to-date details on their approved countries and accepted currencies.