The new Stripe Checkout payment module will let you integrate your Virto Commerce based online store with Stripe allowing to accept all sorts of payments, including Bitcoins.
This sets the new standard in online payments! Stripe is the leading payment solution for running an internet business that handles billions of dollars every year for forward-thinking businesses around the world. And now its full functionality is available for the Virto Commerce users, allowing them to conveniently accept payments and pay out to third parties.
The new module will allow you to take advantage of the advanced Stripe functionality, including customizing onboarding, setting payout timing, supporting complex money movement, and potential integration with financial reporting.
It will let you track balances automatically, merge earnings and convert them into payouts, set up timed transfers and payouts for your users, and retry failed transfers. It also allows for incorporation of advanced flows, such as Account Debits, one-to-many payments, and others; and offers the option of Instant Payouts.
The tax and financial paperwork-related functionality includes:
• IRS tax threshold tracking and 1099 support
• API-based OFAC and sanctions screening
• Dynamic risk-based KYC/AML checks for all recipients
• Licensed money transmission from U.S. states & UK FCA
• Card industry blacklist filtering
• Screening for bad actors using data from the Stripe network
For managing payouts to large numbers of people the dashboard provides the overview of every stage of the user lifecycle from account history to verification, transfers, and more, creating a convenient a hub for your support and operations teams to manage all the workflows involved.
Utilizing the Stripe Checkout payment module will let you manage sellers in 25+ countries without needing separate local subsidiaries and banking relationships in each market. It will also enable you to accept payments in 135+ currencies, payout in 15+ currencies and present the most relevant payment methods in checkout flows to further optimize conversion rate.
The module lets you accept payments in the number of currencies, including BitCoin! You will be able to easily add BitCoin payment option to your website and start accepting payments from any wallet or service right away.
Just like our entire Virto Commerce platform, this Stripe Checkout payment module is built with the development speed and maintainability in mind. It lets you easily customize and design the best experience for your customers.