In a few simple steps, get your transaction fees into OrderMetrics for a more complete view of your business health.
What is Stripe?
Stripe is an online payment processing and credit card processing platform for businesses.
When a customer buys a product online, the funds need to be delivered to the seller; insert Stripe. Stripe allows safe and efficient processing of funds via credit card or bank and transfers those funds to the sellers account.
Stripes software includes both a payment processing platform, as well as a credit card payment gateway, and both are required in each successful online transaction-- making it an efficient and simple software to choose for online payments.
What are transaction fees?
Payment fees are an essential metric to understanding overall business profitability and performance, and are therefore a key ingredient in our commitment to you.
OrderMetrics will pull transaction fees from Stripe. These fees will be used in conjunction with your other data and integrations to provide a more complete picture of business profitability and other important metrics.
Simply set up your Stripe integration, and sit back while OrderMetrics automatically retrieves your transaction fees! It’s that simple.
How Can You Access the Stripe Integration?
Sign into OrderMetrics
From the OrderMetrics dashboard, click Data in the left-hand navigation
On the Manage Integrations page, scroll down to Stripe and click “connect”
On the Stripe Connect page, enter your Stripe credentials
Select which Stripe account to pull data from
All done! Let OrderMetrics do the work for you.
Special notes for the Stripe Integration in OrderMetrics
What is included in the transaction fees from Stripe?
OrderMetrics pulls all fees from a given Stripe account, from all its transactions - not only Shopify orders related fees. This means that if a merchant (you) is using that Stripe account for processing other transactions (not related to the Shopify store), OrderMetrics will factor those fees as well.
Transaction Fees for Refunds
When a Stripe user issues a refund, Stripe does not return the original transaction fee. Stripe does not charge a second transaction fee to process the refund, but they keep the original fee.
What this means for you, the Stripe user, and your business’ profitability.
If a Stripe user sells a product for $10.00 and pays a $1.00 transaction fee, their net profit is $9.00 (not considering COGS and shipping)
If that user then issues a refund for that $10.00 order, they will not receive the $1.00 transaction fee, meaning their net profit is then -$1.00