If crowdfunding software is machine of your crowdfunding platform then payment gateway is fuel injection of your crowdfunding platform. As fuel injection is really important for any machine payment gateway is really important part of any crowdfunding platform.
At fundraisingscript.com,We are offering 4 Pre-installed Payment gateways with our Reward Crowdfunding Software and Donation Crowdfunding Software which means you will receive these payment gateways pre-installed if you buy our Reward or Donation Crowdfunding Software. Our 4PPs are as mentioned below.
- PayPal adaptive: PayPal is worldwide leader in money transfer and no more explanation required to explain about that. But PayPal with Adaptive feature is well known to either crowdfunding or other eCommerce industries where payments need a special treatment than standard PayPal payment.
- Stripe connect: Stripe is another popular money transfer gateway in USA and many parts of Europe offers handy to use and comprehensive solution for money transfer widely used by some of the global crowdfunding players like Kickstarter and Indiegogo.
- WePay: WePay is widely known payment gateway in crowdfunding industry used by many crowdfunding giants like GoFundMe.
- Wallet: Wallet is virtual financial account developed by our development team to fulfill all features required mentioned below in absence of any of the payment gateway above.
To be able to use any of the Payment gateway mentioned above you need API credentials from respective payment gateway. You as crowdfunding platform owner need to apply using your payment gateway account in PayPal, Stripe or WePay and they may allow or reject using their payment API on your crowdfunding platform and each gateway has different turnaround time to accept or reject your API request.
In any case you don’t want to use PayPal, Stripe , WePay or your API request is rejected you can use our Wallet gateway feature that allows you to be able to accept payment from standard PayPal, Stripe or WePay (adaptive feature API is not required) APIs. However wallet is manual payment system but using it you can still run your own crowdfunding platform.
There are several features required to for a payment gateway to be included in a crowdfunding platform as mentioned below.
- Pre approved payments: These are the most important feature for any crowdfunding software platform which allows platform to hold payment received from payment sender in so called escrow account where payment will be held virtually and not transmitted to project owner/payment receiver until certain payment threshold limit or deadline. This is mostly used in case of “All or Nothing” aka “Fixed Funding” project type where project owner will receive funds only if project goal amount is reached or all funds will be refunded back to all backers of project.
- Split payment: Split payment is another most attractive and important fueling feature which is directly related to monetization of crowdfunding platform owner. This feature supports split of payment received by crowdfunding project owner as fund in two parts one as Platform fees aka Site Fee aka Site Commission and another part is crowdfunding project owner’s fund.When project hits the funding goal, project owner is eligible to receive funds raised so far minus admin fees and on the same hand platform owner/admin receives site fees/commission as configured.
- Ease for Payment Sender: Any payment gateway should be flexible for payment sender; meaning that it should be able to accept payment from payment sender easy way like bank deposit, credit card or debit card or if it is lengthy and hard to send payment, payment sender won’t go for it. 4PPs we have selected support all easiest way to accept payment from payment senders and make the process of few minutes.
- Easy payment delivery: As payment acceptance is important, payment delivery is equally important. 4PP we’ve included allows payment delivery to project owner with easiest way possible.
Want to know more about our crowdfunding software? Contact us here.