|

Linking Stripe to your Zoom Events Hub

ByCorporate Guider Zoom, Home

Zoom Events accepts payments online through Stripe, a simple and powerful platform that makes it easy to accept payments online. As an alternative to using your PayPal business account to make an online payment, you can also link your PayPal business account.

This article covers:

  • How to link a Stripe account to your Zoom Events hub

  • Results when linking Stripe to Zoom Events

  • Limitations for paid ticket registration with Stripe

  • How to manage payments and billing

    • Update payments and billing information

  • How to manage your Stripe Dashboard

    • Fund capture

    • Approve or reject refunds

    • View chargebacks

    • View reports

    • View sales tax, GST, VAT

  • How to follow the Stripe payout schedule

  • Stripe fees

  • How to unlink a Stripe account from your Zoom Events hub

Prerequisites for linking a Stripe account to your Zoom Events hub

  • Zoom desktop client for Windows, macOS, or Linux: Global minimum version or higher

  • Zoom mobile app for Android or iOS: Global minimum version or higher

  • Pro, Business, Enterprise, or Education account

  • Zoom Events license

  • Account owner or admin privileges

Note: In order to access the latest Zoom Events and Webinar features, hosts are strongly recommended to update the Zoom desktop client/mobile application to the latest version in order to be able to access Zoom Event and Webinar features.

How to link a Stripe account to your Zoom Events hub

Note: A single Stripe account can be used to link multiple Zoom Events hubs.

It is mandatory to create a new Stripe account if you wish to link one with your Zoom Events hub for the first time – even if you already have a Stripe account. There is no need to go through the whole account creation process if you already have a Stripe account since you can pull information from an existing account and use it without having to create a new one.

Note: It is recommended that you only use the Stripe account linked to your Zoom Events hub to earn money from sales related to events that are directly listed on Zoom Events. This is due to the fact that payouts from this account do not take place until after the event has taken place. This account should not be used with any of the other Stripe products, including Stripe Billing, Stripe Invoicing, or Stripe Payment Links, which are available. As a result, you may incur significant payout delays if you choose to use these products because automatic payouts are not triggered by Zoom Events for these products, and you will need to contact Zoom Support if you would like this to be done manually.

Upon being redirected to Stripe’s onboarding process, you will be given the option to create a new account from scratch, or to create an account that is pre-populated with information from an existing Stripe account once you are redirected. The new account that is created—regardless if it was created from scratch or if it had information pre-populated from an existing account—will be different in comparison to a standard-connect Stripe account so that it can only be linked to the Zoom Events platform, which also allows Zoom to provide you with a customized experience based upon what the account entails.

NOTE: In the case that you have previously created an account on Stripe and linked it to your Zoom Events hub, you will have the option of selecting that account and linking it to your Zoom Events hub, or to create a new account which will be linked to your Zoom Events hub if you did not previously create one.

In order to link your Zoom Events hub to your Stripe account, you will need to follow these steps:

  1. Zoom Events can be accessed by signing in.

  2. Click on the Manage button at the top-right corner of the page.

  3. Click the dropdown menu in the left navigation menu and select the hub you wish to add a Stripe account to in the left navigation menu.

  4. Pay & Billing can be found by clicking the link above.

  5. On the Payout Methods tab, click the Payout Methods button.

  6. If you would like to receive your hosting income in a particular country, you will have to select it in the dropdown menu and then click Save.

    Notes:

    • The most common reason for this is when a new hub is created, and when you first click the Payments & Billing tab.

    • It is not possible to change the country/region once it has been saved.

  7. In the top right corner, click on Create and Link to create a link between Stripe and your website.
    Once you have completed the Stripe onboarding process, you will be directed back to the Stripe website.

  8. Click on the Continue button after entering your email address.

  9. Click on Continue after you have entered your password.

  10. Select the Create Event option from the menu.

Upon successful linking of your Stripe account to your Zoom Events hub, you will receive an email informing you of such.

Results when linking Stripe to Zoom Events

It is possible that you will receive one of the following status results after connecting your Stripe account to your Zoom Events hub after trying to connect your Stripe account:

  • Complete: The Zoom Events platform allows you to create paid events and receive payments from ticket sales for these events.

  • Pending: Your account information will be verified by Stripe, or you will have to go to the Stripe Dashboard to provide additional information to Stripe. If more time is needed to verify the information you provided, or if more information is needed to verify the information you provided, then you will see the pending status:

    • Pending Stripe verification: Your Stripe account details are currently being verified by Stripe, so please wait while it does that. It is recommended that you contact Stripe customer support if your account is still pending after 15 minutes.

    • Pending Host action: You have to provide Stripe with more information so that they can enable payments to be made to the account you just created for payments and payouts. I would like you to complete your Stripe onboarding process by going to your Stripe Dashboard. There will be instructions on your dashboard about what information and details Stripe needs from you.

Limitations for paid ticket registration with Stripe

There is no limit to the number of events that can be scheduled on any date by Zoom Event hosts.

  • During the next 12 months from the date of publication of the event, only the registration of the attendees who purchased tickets in advance will begin in the United States. The paid ticket registration for an event you have created using the Stripe payment platform will not be available for attendees until 12 months before the event’s scheduled start date, if Stripe is the online payment platform you have linked to your Zoom Events hub.

  • The cut-off date for the registration of paid tickets for attendees outside the US is 89 days from the date on which the event is published.

How to manage payments and billing

Update payments and billing information

  1. Zoom Events can be accessed by signing in.

  2. Click on the Manage button at the top-right corner of the page.

  3. You will find the hub dropdown menu in the left navigation menu. Click the hub that has the Stripe account you wish to manage in the dropdown menu.

  4. Go to Payments & Billing and click on it.

  5. To view billing information, click on the Billing Information tab.

  6. The information required under Billing Address should be filled in as soon as possible.

    Note: You are not required to provide a billing address, but if you do not provide one, you will not be able to create paid events on the site.

  7. Then click on the Save button. 

How to manage your Stripe Dashboard

The Stripe Dashboard is where you operate and configure your Stripe account, manage payments and refunds, and respond to disputes. Useful information about your account activity can also be seen at a glance.

Fund capture

After a ticket is purchased with a credit or debit card, the transaction will stay pending for two days before funds are captured. This feature is to safeguard you from having to pay Stripe processing fees if there is a refund/cancellation during this time period.

Note: Once a transaction is captured, you are responsible for paying Stripe the processing fees for the purchase, even if there is a refund. As soon as two days have passed since the purchase was made, the transaction has been authorized, which means that the funds that were held for the purchase have been approved by the issuing credit card company or bank. This two-day processing period will allow the Attendee to see the purchase appear on their credit or debit card account during which time.

Approve or reject refunds

Within 14 days of an event’s end date, refund requests made within Zoom Events can be approved or rejected, depending on whether they were submitted within 14 days.

In order for you to approve or reject a refund request for an event that has ended 15 days or more after the end date of the event, you will need to log in to your Stripe account.

View chargebacks

There can be a chargeback when a credit cardholder files a dispute with the issuer of the credit card on which they wish to make a claim for a refund in the event that they are not satisfied with the amount of the charge.

The reasons for a cardholder disputing your payment with their card issuer can be many, but you can respond to a chargeback to help resolve the issue. In order to prevent disputes and fraudulent payments from occurring, you should follow some simple tips that will help you protect yourself. The Stripe Dashboard is where you can find out about any chargebacks that you receive from customers.

Note: In order to reclaim your funds, you must respond to a chargeback within 30 days of receiving it. You will forfeit your right to claim chargeback funds if you do not respond to the chargeback, but the customer will receive a refund if you do not respond to the chargeback. 

You will be charged a $15.00 dispute fee for each chargeback that Stripe receives.

In order to learn more about chargebacks, you can visit Stripe’s website.

View reports

Reports can be viewed as a summary report from the dashboard or as a CSV file that can be downloaded to see itemized transaction data for the specific transaction.

A tax will be added to the prices of the tickets in order to cover the costs of the event

In the case of tickets outside the US & Canada, taxes will be deducted from the ticket price

View sales taxes, GST, VAT

Taxes vary by region. Please refer to Zoom Events GST and VAT and Zoom Events US Taxes if you would like more information about indirect taxes in your area.

In the case of tickets sold to attendees residing in the US and Canada, the ticket price charged to the attendees will be treated as exclusive of indirect taxes to the extent that the indirect taxes are applicable. In other words, if there is a need to collect tax on the tickets, the amount will be added to the price of the tickets and the amount will be displayed to the buyer at the time of purchase. The added tax will be collected by Zoom as part of the transaction and will be remitted on your behalf by Zoom.

The ticket price charged to attendees residing outside of the United States of America and Canada will be treated as including indirect taxes when the tickets are sold to attendees residing outside of these countries. The amounts remitted to you will be reduced by any taxes that Zoom is required to collect from the attendees on the amounts charged to their accounts, so that the amounts remitted to you will be reduced by the amounts charged to the attendees.

Notes:

  • In Stripe, Zoom will be able to collect tax from a transaction based on the application fee that was applied. The Stripe dashboard allows you to view all details related to your transactions, including sales tax, GST, and VAT that are applicable to your transactions. Transaction fees are a combination of Stripe’s processing fees, which include any applicable tax on Stripe’s processing fees, as well as Zoom’s application fees (tax collected during the transaction and remitted by Zoom on your behalf) which are included in the total transaction fees.

  • When Zoom is not required to collect and remit indirect taxes on the prices charged to attendees, it is the responsibility of the host to determine and remit the indirect taxes that apply to them.

How to follow the Stripe payout schedule

In order for your payout to be processed, you will need to close the registration process by the event’s end date, which must take place no later than that date. If a particular event is scheduled to end on the first of January, then the registration deadline must be January 1, and the payout funds will be released five business days after January 1 (January 1 plus five business days).

    Notes:

  • In most cases, it will take a minimum of seven to fourteen days for your first Stripe transaction to settle in your Stripe account. If you want to help with the establishment of your account earlier, you can do a test charge of $1.00 to help you get started. The other option is to begin selling tickets 15 days before your first event so you can help negate any extra holds on your first payment by selling tickets 15 days prior to your event.

  • In a case where you have made refunds for an event that is already paid out for, your next event could be delayed beyond the general payout timeline discussed above if you are processing refunds for an event that you have already been paid out for. I would like to remind you that if you don’t receive your payout, you should contact Zoom immediately.

Stripe fees

There is a processing fee charged by Stripe for every successful charge that is made. It is possible for the charge to differ from country to country.

Accepted payment methods Customers pay with a credit/debit card
Fees for Host 2.9% + $0.30 per transaction*

In terms of transaction fees, they are a combination of Stripe processing fees, plus the Zoom application fee (which is a tax that is collected during the transaction and that Zoom will remit on your behalf).

In the event that the Host reaches a certain volume and can negotiate fees, as well as other circumstances, these fees may change. Please see our complete pricing + fees page for more information.
Processing time Payout Schedule Documentation

There will be a release of funds from Zoom 5 days after an event or series concludes. These funds will then be deposited into your bank account within the next 1-2 business days.

Note:

The first transaction you initiate with Stripe will usually take between 7 and 14 days to settle in your Stripe account; you can do a test charge of $1.00 to help with the process of setting up your account as soon as possible.
Number of days in advance paid event registration can be scheduled to start A paid event can be published on any date.

Note:

As far as US Stripe accounts are concerned, only the pay-per-attendee ticket registrations are limited and are only available for up to 12 months from the published date of the paid event. As far as accounts outside the US are concerned, the registration process for attendees who have paid for a ticket will begin within 89 days from the date on which the event was published. 
Customer support FAQ https://support.stripe.com/

How to unlink Stripe from your Zoom Events hub

You will not be able to unlink your Stripe account from Zoom Events hub if you have not closed out all of the following activities in your Zoom Events hub:

  • Published events with sales of paid tickets

  • Paid events

  • Pending transactions

  • Pending payout for a completed event

Note: It is possible to relink your Stripe account created and linked to during the onboarding process from your Zoom Events hub if you unlink the account that was created and linked to during the onboarding process. In the event that you relink your Stripe account, all your existing Stripe transactions will be resumed (charges, payouts, refunds, transaction details). You will also be able to link your existing Stripe account to your new account by creating a new account with Stripe. 

In order to unlink your Zoom Events Hub from your Stripe account, follow these steps:

  1. Zoom Events can be accessed by signing in.

  2. The Manage button can be found in the top-right corner of the page.

  3. You will be able to choose the Stripe account that you want to manage from the dropdown menu that appears in the left navigation menu.

  4. Go to Payments & Billing and click on it.

  5. On the Payout Methods tab, click the Payout Methods button.

  6. Click Unlink at the bottom of the Stripe section.

Note: If a host closes their Stripe account through the Stripe Dashboard, and there is an available balance or a pending payout for an event, the host will not be able to access these funds and will have to contact Stripe to have them released to their account.

All content and images credit goes to https://support.zoom.us