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What is Stripe?
Stripe is one of the most integral companies in the world of e-commerce transactions that makes it easy for businesses to receive payments from their customers securely.
For example, with Stripe, Sendcash is able to provide you with a seamless method of completing your money transfer to Nigeria via your debit/credit card or bank account..
In 2022 alone, Stripe processed $817 billion in transactions and is the payment partner for some of the world's biggest consumer and enterprise companies, such as Amazon, WhatsApp, Open AI, Shopify, Google, and Salesforce. They've also acquired leading payment processing companies around the world, like Nigerian FinTech, Paystack, and many more.
How Stripe Securely Processes Payments.
Securely collect information: When you try making an online payment to a business that has Stripe integrated, say, for example, Sendcash, you'll be asked upon checkout to submit your payment information, such as a credit card or debit card, for the transaction.
Stripe Passes On This Information: Once you submit this information, Stripe encrypts your payment details to ensure they're safe and sends them to the bank that will process the transaction, also known as the acquiring bank. The acquiring bank then reaches out to the issuing bank (your bank) to authorize the payment and transfer the funds.
Communicates Success: When that successfully happens, Stripe communicates this back to you, the user, and you are shown a 'Payment Successful' screen. All of this happens within seconds. Sendcash receives your funds and credits your recipient with the naira equivalent within minutes
Given Stripe's track record of making online payments easy and secure, it was a no-brainer for us at Sendcash to integrate it for more reliable card transactions. We are very excited for you to try the Stripe payment method on Sendcash if you are based in the United States (excluding Hawaii).
How To Use Stripe On Sendcash.
Here is a breakdown of how to pay with Stripe on Sendcash:
Step 1: Open Sendcash and fill in the details of your transaction: the amount you want to send and your recipient's bank details.
Step 2: On the payment methods page, select the “Card or Apple pay” option and tap on “Pay with Stripe” to proceed.
Step 3: Review the amount details (including fees) and select “Continue” to proceed. To view your fees, simply tap on the drop-down icon next to "Fees".
Why is there a crypto amount shown?
The crypto amount displayed is the just the equivalent of the USD value you intend to send. Stripe sends us the BTC equivalent, then we process your USD transaction.
Step 4: You’ll be prompted to submit and verify your email address as shown below.
Step 5: At this point, you’ll be asked to verify your device, add your personal information and verify your identity. You are only required to do this for your first Stripe transaction and approval is instant.
Note: This is a one-time requirement from Stripe that needs to be carried out even if you’ve completed your account verification on Sendcash.
Verifying your device is a one-click step (completed within seconds)
After verifying your device, you’ll be asked to enter your home address and personal info
Next, you’ll be directed to verify your identity. To do this, you’ll need to submit a valid government ID and upload/take a selfie showing your full facial features.
Step 6: Upon successfully verifying your personal information, you’ll be asked to confirm your wallet. Tap on “Use this wallet” to proceed with your transaction.
Note: The Bitcoin wallet address shown below is where we would receive the corresponding crypto value that Stripe sends us for your transaction.
Step 7: Select your preferred payment option (Bank or Card), and fill in your details, then tap on “Review order”. Afterwards, tap on “Pay” to finish your transaction.
That’s all you have to do. We will send Naira to your recipient immediately we receive your card payment.
Lastly, there is a weekly transaction limit of $1,500 for transactions done with Stripe on Sendcash. To transfer amounts exceeding this limit, we recommend using Cash App or our crypto payment methods (Bitcoin & USDT).
If you have any questions or need assistance, you can reach out to us by sending an email to firstname.lastname@example.org. We’ll be more than happy to help.