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Setting Up Payments - Connect Stripe

10 min read Beginner For Owner Updated about 2 months ago
Quick Answer
To set up payments, go to Account Info → Accept Payments, click Connect Stripe, complete the Stripe authorization, verify your business information, and link your bank account. Once connected, you can accept payments.

Setting Up Payments

Before you can accept payments, you need to connect a Stripe account. This guide walks you through the complete setup process.

What You'll Need

Before starting, gather:

  • Business information

    • Legal business name
    • Business address
    • Tax ID (EIN) or Social Security Number
    • Business type (LLC, Sole Proprietor, etc.)

  • Personal information (for verification)

    • Legal name
    • Date of birth
    • Last 4 digits of SSN
    • Home address

  • Bank account (for payouts)

    • Routing number
    • Account number
    • Account type (checking/savings)

Step-by-Step Setup

Step 1: Access Payment Settings

  1. Log into your RecSystems dashboard
  2. Click Account → Account Info in the navbar
  3. Click Accept Payments in the Account settings menu

Step 2: Connect Stripe

Choose one of the two options:

If you have an existing Stripe account:

  • Click Connect Existing Account
  • You'll be redirected to Stripe to log in and authorize RecSystems

If you need a new Stripe account:

  • Click Create New Account
  • Follow Stripe's prompts to create and configure your account

Step 3: Stripe Authorization

  1. Log in with your Stripe credentials (or create new account)
  2. Authorize RecSystems to connect
  3. Complete any verification steps Stripe requires

Step 4: Business Information

Enter your business details:

Field Description
Business type LLC, Corporation, Sole Prop, etc.
Legal name Official business name
Doing business as Your operating name (if different)
Industry Select Equipment Rental or similar
Website Your business website

Step 5: Personal Information

Stripe requires identity verification:

Field Description
Legal name Your full name
Date of birth For identity verification
SSN last 4 Last 4 digits only
Address Your personal address

This is required by financial regulations and kept secure by Stripe.

Step 6: Bank Account

Link your bank for payouts:

  1. Select Bank account
  2. Enter routing number
  3. Enter account number
  4. Confirm account number
  5. Select account type

Or link via Plaid:

  1. Select your bank
  2. Log into online banking
  3. Account linked automatically

Step 7: Review and Complete

  1. Review all information
  2. Agree to Stripe's terms
  3. Click Complete setup

Verification

Instant Verification

Most accounts are verified immediately:

  • You can start accepting test payments right away
  • Live payments enabled after final checks

Additional Verification

Sometimes Stripe needs more:

  • Document uploads (ID, business documents)
  • Additional information
  • Manual review

Check your Stripe dashboard for any pending requirements.

Test Mode

After connecting, your account starts in test mode:

What Test Mode Does

  • No real charges
  • Use test card numbers
  • Practice the entire flow
  • Verify everything works

Test Card Numbers

Use these test cards:

Card Number Result
4242 4242 4242 4242 Success
4000 0000 0000 0002 Declined
4000 0000 0000 3220 3D Secure

Any future date and any 3-digit CVC works.

Testing Checklist

Before going live:

  • [ ] Create a test booking
  • [ ] Complete checkout
  • [ ] Process a refund
  • [ ] Check dashboard shows transaction

Going Live

When ready to accept real payments:

Switch to Live Mode

  1. Go to Account Info → Accept Payments
  2. Toggle Live Mode ON
  3. Confirm the switch

Before Going Live

Verify:

  • [ ] Stripe verification complete
  • [ ] Bank account confirmed
  • [ ] Test transactions worked
  • [ ] Pricing configured correctly

Managing Your Stripe Account

Accessing Stripe Dashboard

From RecSystems:

  • Click View Stripe Dashboard in payment settings

Or go directly to dashboard.stripe.com

In Stripe You Can

  • View all transactions
  • Manage payout schedule
  • Update bank information
  • Download reports
  • Handle disputes

What You Do in RecSystems

  • Process payments
  • Issue refunds
  • View transaction history
  • Export reports

Troubleshooting

Connection failed

  • Check internet connection
  • Try a different browser
  • Clear cookies and retry
  • Contact support if persists

Verification pending

  • Check Stripe dashboard for requirements
  • Upload requested documents
  • Allow 1-2 business days

Bank account not verified

  • Stripe may send micro-deposits
  • Check your bank in 1-2 days
  • Enter deposit amounts to verify

Can't switch to live mode

  • Complete all Stripe verification
  • Ensure bank account is verified
  • Check for pending requirements

Disconnecting Stripe

If you need to disconnect:

  1. Go to Account Info → Accept Payments
  2. Click Disconnect Stripe
  3. Confirm

Warning: Disconnecting prevents accepting payments until you reconnect.

Related Articles:

Frequently Asked Questions

How do I connect Stripe?
Go to Account Info → Accept Payments and click Connect Stripe. You'll be redirected to Stripe to authorize the connection. If you don't have a Stripe account, you can create one during this process.
Do I need a separate Stripe account?
Yes, you'll have your own Stripe account. This ensures you receive payments directly. If you don't have one, you can create it during the connection process.
What information do I need to provide?
Stripe requires business information (name, address, tax ID), personal information (for identity verification), and bank account details (for receiving payouts).
How long does verification take?
Most accounts are verified within minutes. Some may take 1-2 business days if additional verification is needed.