Fidexa Pay guide

What Fidexa Pay is

• Take contactless cards and digital wallets in person with Tap to Pay on iPhone or Tap to Pay on Android. No card reader to buy.
• Send invoices your customers pay online by card or US bank account (ACH).
• Every sale, tip and Stripe fee is recorded in your Fidexa books automatically. Sales tax you collect is kept apart, because it isn’t your income.
• Fidexa Pay is for businesses in the United States and is included with Fidexa Premium.
• Payments are processed by Stripe and go straight into your own Stripe account. Fidexa never holds your money.

Before you set up

Setup takes about 5 to 10 minutes. Stripe, our payments partner, asks the questions every payment provider in the US is required to ask. Have these ready:

• Your legal name, date of birth, home address and phone number.
• Your Social Security number, or your Employer Identification Number (EIN) if you have a company.
• A US bank account or debit card for your payouts.
• A short description of what you sell, and your website or social profile if you have one.

Individual or company?

• Working on your own, without an LLC or corporation: choose Individual / Sole proprietor. Your payments are reported under your own name and SSN.
• You have an LLC or corporation: choose Company and use your EIN and business bank account.

Stripe may ask for more information or a document (for example, a photo ID) before you can take payments or receive payouts. If it does, Fidexa shows what is needed on the Pay screen, and you finish it in the same Stripe form.

Your information stays with Stripe

• Your SSN or EIN, date of birth, ID documents and bank account number go directly to Stripe. Fidexa never sees or stores them.
• Fidexa keeps your Stripe account ID and its verification and payout status, the business address you enter for Tap to Pay, and the details of each payment: amount, tip, sales tax, Stripe fee, status, date, and the card brand and last four digits.
• Full card and bank account numbers of your customers are handled only by Stripe.
• Read more in our Privacy Policy, our Terms of Use (section 5), and the Stripe Connected Account Agreement.

Fees

Fidexa charges no fee for Fidexa Pay. Stripe takes its processing fee from each payment before the money reaches your balance, at Stripe's standard US rates:

Tap to Pay on iPhone or Android

2.7% + $0.15

Invoice paid by card

2.9% + $0.30

Invoice paid by bank transfer (ACH)

0.8%, up to $5.00

Card issued outside the US

+1.5%

Dispute

$15.00 each

Fidexa

No fee

The Tap to Pay rate includes Stripe's per-authorization charge. The exact fee of every payment is shown next to it in the app. Rates are set by Stripe and can change; see stripe.com/pricing.

Getting paid

• Your first payout usually arrives 7 to 14 days after your first payment. Stripe holds the first one a little longer while your account is new.
• After that, money is paid out to your bank automatically, usually about 2 business days after each payment.
• Your bank may take a little longer to show the deposit.
• See your balance, upcoming payouts and past payouts any time under Payouts & refunds on the Pay screen. It opens your Stripe dashboard.
• If your bank is connected to Fidexa, the deposit from Stripe is marked as a transfer automatically, so your sales aren’t counted twice.

Taking a payment with Tap to Pay

• On iPhone: an iPhone XS or later with the latest version of iOS. The first time, you accept the Tap to Pay on iPhone Terms and Conditions with your Apple Account, and Fidexa shows how to take a payment.
• On Android: a phone with NFC running Android 13 or later, with Google Play, a security update from the past 12 months, Developer options turned off, and a phone that is not rooted or modified.
• Location must be allowed for Fidexa while you take a payment. Card networks and Stripe use it to help keep payments secure.
• You need an internet connection. Payments can’t be taken offline.
• Some cards ask for a PIN. Hand the phone to your customer to enter it. On Android, turn off screen recording first.
• If a card can’t be read, ask for another card or a phone wallet such as Apple Pay or Google Pay, or send an invoice instead.

Receipts

• After each payment, approved or declined, you can email a receipt to your customer or print it.
• Receipts show your business name and the business address you entered when you turned on Tap to Pay. Use an address you are comfortable sharing with customers.
• To change that address, email support@fidexa.tech.

Refunds

• Refund a payment, in full or in part, under Payouts & refunds. The money goes back to the card or bank account the customer paid with.
• Refunds to a card have no extra fee, but Stripe doesn’t return the processing fee of the original payment. Refunds of bank (ACH) payments may have a fee.
• Refunds are recorded in your Fidexa books automatically.

Disputes

• A dispute (chargeback) happens when a customer asks their bank to reverse a payment.
• Stripe takes the disputed amount and a $15.00 dispute fee from your balance while the bank decides.
• Responding with evidence costs another $15.00, which Stripe gives back if you win.
• You can respond with evidence, such as the receipt, an invoice or proof of the work you did, under Payouts & refunds before the deadline shown there. If the bank decides in your favor, the disputed amount comes back to you.
• If you lose a dispute, Fidexa records the reversed amount and Stripe’s dispute fee in your books automatically.

Sales tax, tips and 1099-K

• If you add sales tax to a payment or invoice, Fidexa keeps it on that payment and in your accountant export, not in your income. You decide the rate and you are responsible for filing and paying sales tax.
• Tips are recorded as their own income line, separate from your sales.
• Stripe sends you a Form 1099-K if your payments pass the IRS threshold, currently more than $20,000 and more than 200 payments in a calendar year. Some states have lower thresholds. You will find your tax forms in your Stripe dashboard.
• Fidexa doesn’t give tax advice. Ask your tax professional what applies to your business.

Need help?

Email support@fidexa.tech about anything in Fidexa. For questions about your Stripe account, such as verification or a specific payout, you can also contact Stripe from your Stripe dashboard.