Stripe Payments System – the Benefits & SCA

By | August 16, 2019

 PLEASE READ: About 80% of our members in Ireland have a registered Stripe account and many use it to take payment with one click or use the virtual terminal on their smartphone on a regular basis. However, those not registered have seen increasing problems due to a change in consumer trends. This year we have seen a substantial increase in reported payment problems from both B&B Owners and their guests.

  • Guests are reluctant to carry cash and find it very annoying they can’t pay by credit card.
  • Guests leave without paying because they used their credit card to make the booking.
  • Guests are “no show” and B&B Owners loses the money.
  • Guest makes a booking with a valid credit card that is “maxed out” when it comes to paying.
  • Rooms are cancelled when a guest is advised they must pay in cash.
  • Refunding deposits and booking fees
  • Guests have made a booking by phone (no credit card details taken) and then left without paying

All of the above have been reported this year – “no show”, “leaving without paying” and “paying cash” have been reported numerous times.
Stripe has provided a “safety net” in nearly all these cases.
I would urge those B&B Owners not registered to do so
(it takes 2 minutes) – Stripe costs nothing if you don’t use it. From  Left Menu >> Stripe >> Connect with Stripe

We implemented the Stripe Payment System in anticipation of the changing trends and currently, we are updating our systems to meet the new EU Strong Customer Authentication (SCA) legislation to maintain seamless transactions. This new regulation comes into force on the 14th of September no action is required by our members.

SCA will affect any applicable transaction for businesses whose payment service provider is located within the European Economic Area (EEA) and whose customer’s bank or card provider is also located within the EEA. If only one of those parties is located within the EEA, the requirement is for them to still use ‘best efforts’ to apply SCA.