PAD Payments, also known as Pre-Authorized Debits (PAD), is available through Stripe Standard and FreshBooks Payments powered by Stripe, and allows businesses to debit clients through bank-to-bank transfers in CAD currency.
Important: PAD Payments is available to businesses that have selected Canada in Basic Information settings and have a Canadian bank account connected in Stripe.
Details
- Availability - For businesses based in Canada that already have Stripe set up, and with clients located in Canada using a Canadian bank account
- Transaction Fee - 1% + $0.40 per transaction with caps available for Select plans
- Processing / Payout Schedule - Payments are processed and settled depending on whether it’s your first payout or not, and your business’ location
- Chargebacks - Review Stripe’s disputes and fraud process
Activate PAD Payments on Invoices
PAD Payments can be activated on any invoice or recurring template where the currency is in CAD ($) with the below steps:
- If you have not yet set up Stripe, complete the steps to accept online payments with Stripe first
- When creating an invoice or recurring template, under Settings, select Accept Online Payments
- Under FreshBooks Payments or Stripe Standard, check off the box next to Accept Pre-Authorized Debit
- Next, select either:
- Business Debit - Used for goods and services related to your business
- Personal Debit - Used for goods and services for consumers
- Select Done to finish and resume creating your invoice or recurring template as needed.
PAD Payment Notes:
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PAD Payment Accounts - there are two types of PAD Payment accounts, depending on who your clients are:
- Personal Debit - Used for goods or services provided to your clients who are consumers
- Business Debit - Used for goods or services related to your business, like payments between vendors, distributors/suppliers, dealers/manufacturers, commercial activity and more
- Client Experience - To view what the experience looks like for your clients when paying with Pre-Authorized Debit, review As a client, how do I pay an invoice with online payments?
