To accept payments via Virtuous Giving, you'll need to create a processing account with Stripe-the processor who will actually handle all credit card data and transactions. Stripe functions as both a merchant account and gateway, allowing you to accept credit card payments and have funds deposited directly into your organization's bank account.
*Note: For organizations using Stripe, you will need to reach out to the Virtuous team to set up this configuration. Otherwise, the default processor will be Payments.
Your initial giving setup should not take more than 20 minutes from start to finish. As part of the setup process, we recommend:
- The process be completed in its entirety in one sitting. Since setup involves connecting to Stripe and configuring your new account, its generally best to complete the whole process to ensure your account is configured correctly.
- The setup should be completed by your controller or CFO. Stripe accounts are tied to a specific user, who should be the person responsible for managing your organization's bank account.
To begin setup, navigate to the Dashboard tab under the Online Giving page in Virtuous CRM.
When you first visit the Giving page, you'll see an outline of the setup process. There are two main steps to move through:
- Create your Stripe processing account
- Configure your Donor Portal where donors can log in, manage their payment methods, and see their gift history.
Let's start with step 1. Click on the Setup button to get started.
Creating Your Stripe Account
If you've never used Stripe before, or if you've never even heard of Stripe before, that's OK! When you begin the setup process, you'll have two choices: connect your existing Stripe account (that's right, you can bring your own!) or set up a new account.
To connect your account, you'll need the credentials for your existing Stripe account. To create a new account, click on "Setup New."
The Stripe account setup form has several sections, all laid out on a single page:
- Business Details - Provide the name, address, and tax ID for your organization
- Executive Details - If this section is titled "Individual or Sole Proprietor Details" instead, make sure you have selected "Nonprofit Organization" under Business Type in the previous section. Enter the personal information for the specific individual to be associated with your account. As stated earlier, this should be the person responsible for managing your organization's bank account.
- Credit Card Statement Details - Specify how you would like your organization to be identified on your donors' credit card statements.
- Bank Account Details - Enter the bank account where donations will be deposited.
- Two-step Authentication - For your protection, your account requires setting up additional authentication. You may choose to receive an authentication code via text message or by using a separate authenticator app.
- Save Your Stripe Account - Create a username and password that you will use to access your Stripe account.
Click "Authorize access to this account" once you have completed the setup form. If there are any missing details, you will not be able to proceed with setup, so review everything carefully before authorizing.
Once you have completed your Stripe account setup, you are almost ready! Now, you'll just need to configure your donor portal. For that, you can check out our article on Managing Your Donor Portal.