What is Payments Plus?
Payments Plus is a new payments platform for customers who signed up for Playground payments via Stripe before April 1, 2022. Any customers who began using payments after this date are automatically on Payments Plus.
Payments Plus means Playground has the ability to manage your payments via Stripe instead of Stripe managing your payments directly. Here's what switching would mean for you:
Settlement times for ACH transactions are accelerated from 4-5 business days to 1 business day.
Funds will be paid out for all settled transactions on Mondays and Wednesdays, instead of paying funds out at the end of each day.
On average, funds will be paid out 2-3 days faster due to decreased settlement time.
Increased ACH limits for parents who want to pay an entire year's tuition upfront.
Stripe's legacy payments has a limit of $5,000 per transaction.
A new Playground Payouts dashboard with all the information that was previously available via Stripe.
You'll have the ability to track your payouts with even more information about each transaction.
You will lose access to your stripe.com login since payments are now entirely managed by Playground on Payments Plus.
Nothing changes about your parent's payments or the Playground dashboard, other than the addition of the payouts dashboard.
If you're interested in switching, follow the instructions below:
In order for Stripe and Playground to move your existing payment data to the new Payments Plus, you'll be required to complete a Migration Consent Form. This form
gives Stripe permission to copy your existing data into Playground and takes 1 minute to complete. Please follow the steps below:
Login to your Stripe account
Click here to access the migration request form: https://support.stripe.com/contact/email?topic=migrations
Select Yes for the first question, "You are currently logged into Playground, with account ID: acct_######".
Select the Copy data option
Select the Source option
Paste the Playground Account ID (acct_1IF0PVC7t6MTuEUX) as the destination merchant in the second text box. Leave the first text box as is.
Select to copy Full set of customers
Check the Agree box at the bottom and click "Send email"
Send us an email to [email protected] OR come onto our live chat and let us know you submitted the form so we can submit our portion of the form.
Wait a few days for Stripe to process the request, and we'll reach out!