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.
Parents will need to re-enter their payment methods and re-enable autopay (which will be automatic if mandatory autopay is enabled). Payment methods do not carry over to 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:
Send us an email to [email protected] OR come onto our live chat and let us know you would like to switch to Payments Plus
We will add a banner to the top of your Billing => Overview page for you to enter in your business information. Once you fill that out, please reach back out to us on live chat or email [email protected] that you have completed the business information portion.
We will then schedule a time with you to migrate all of your parent accounts over, which will remove their payment methods. Please send a notice to all parents asking them to re-add a payment method. Nothing is required on your end.
Once the migration is complete, your Billing => Overview page should have a new banner to add a bank account to get paid out to. If you do not see this banner, please try signing out and in.
That's it! Your account will be swapped over automatically by our team.