Accepting Card Payments and PayPal with MagnaPass

Written on Friday 3rd December 2021

MagnaPass enables you to accept online card payments and PayPal.

 

Accepting card payments.

Taking card payments online is essential nowadays. That's why MagnaPass has card payments fully integrated into the platform and it's included in every account regardless of subscription plan.

The payment processor built into MagnaPass is Stripe. They are a very reputable and reliable industry-leaders when it comes to payments and security. There is more information below about how to connect Stripe and transaction fees.

There are alternative booking options such as manually booking clients via your dashboard, voucher codes, free passes, and more. MagnaPass is flexible enough to deal with any scenario and preference. However, clients will ideally pay online which allows you to maximise your productivity.

 

Benefits

Requiring your clients to book and pay in advance allows you to gauge attendance numbers, receive your payment promptly, and saves unnecessary hassle dealing with receiving and tracking your payments manually.

When clients pay online ahead of time, they are much less likely to cancel. Especially if you have a set refund policy, which can also be set and automated within the MagnaPass dashboard (find out more here). Reducing cancellations means you have happier and more engaged clients, allowing you to maximise attendances.

Connecting card payments to MagnaPass via Stripe makes things very simple for you. Once it's connected (see how to connect Stripe below), MagnaPass does the rest. Anytime a client makes a payment, it is processed and held in your Stripe account until it's paid out to your bank account (see payouts below).

 

Connecting Stripe

Once you've signed up with MagnaPass, you'll need to connect Stripe before being able to receive payments from your clients. Within the MagnaPass dashboard, select the 'Payment' tab within the 'My account' section. Click the blue 'Connect to Stripe' button and follow the onboarding process.

You will be asked to fill out details such as your email address, phone number, type of organisation (e.g. limited company, sole trader, etc), bank details (to receive payments), and so on. You will then be asked to verify your account, usually with an ID document (e.g. passport, utility bill, driving license, etc).

Once connected and verified, you can immediately begin receiving payments. 

 

Fees

Transaction fees are 1.4% + 20p when processing payments through Stripe with MagnaPass.

Example: If a client makes a £20.00 payment, the transaction fee would be 48p, leaving a net payout of £19.52.

Calculations: 1.4% of £20.00 (£0.28) plus 20p (£0.20) → £0.28 + £0.20 = £0.48.

 

Payouts

Payouts are weekly. They are automatically sent to your bank account every Friday. 

 

 

Accepting PayPal payments (optional).

PayPal is not a mandatory payment method in MagnaPass, but it can be added if you wish to. If activated, PayPal is seamlessly integrated into the MagnaPass checkout process for a smooth client experience.

PayPal are one of the most well-known and trusted payment platforms in the world. More information is provided below about the benefits of offering PayPal, how to add it to your account, the transaction fees and payouts.

 

Benefits

Many client users prefer to pay through PayPal, which can help you convert any clients on the fence and reduce any barriers to receiving more bookings.

Virtually everyone knows and trusts PayPal. If they're already logged in or have used PayPal recently, the checkout process only takes a couple of seconds, making things very simple for anyone wishing to book.

The MagnaPass dashboard will automatically track and display which payments were made through PayPal so you can differentiate them from other payment methods such as card payments, passes, etc.

 

Enabling PayPal

The process only takes a moment. Within the MagnaPass dashboard, select the 'Payment' tab within the 'My account' section (as you did when connecting Stripe). Select the 'Allow PayPal' tick box and fill out your bank details in the two associated fields (bank sort code and bank account number). Click 'Save changes' to complete the process.

We require the bank details in order to transfer the payments to you. Our team handles everything for you, so there is no further admin after you've added PayPal to your account.

 

Transaction Fees

Transaction fees are 2.9% + 30p when accepting PayPal payments through MagnaPass.

 

Payouts

Payouts occur twice per month. They are automatically sent to your bank account on the 1st and 15th day every month.  Please allow 2-3 days for the payment arrive on your bank statement.

 

Share this page:

Similar Articles

Managing Cancellations Through MagnaPass
Managing Cancellations Through MagnaPass

Full instructions on handling cancellations through the MagnaPass account dashboard.

31 Dec 2021

Issuing Refunds Through MagnaPass
Issuing Refunds Through MagnaPass

Our guide on how to issue refunds through your MagnaPass account dashboard.

17 Dec 2021

How to Block Unavailable Dates and Times in your Calendar
How to Block Unavailable Dates and Times in your Calendar

When your regular timetable and services are disrupted, you can update things in MagnaPass quickly. Here's our advice on setting up 'Unavailability' in your calendar.

19 Nov 2021

Setting Up Packages with Start Dates, Durations and Expiry Dates
Setting Up Packages with Start Dates, Durations and Expiry Dates

Set the duration of a package in days, weeks or months to determines how long clients have to use their passes.

5 Nov 2021

Set your Booking Policy with MagnaPass
Set your Booking Policy with MagnaPass

Choose how far ahead your clients need to book your services. Make sure you have enough time ahead to prepare for the session and avoid any last-minute surprise bookings.

22 Oct 2021

Automate your Refund Policy with MagnaPass
Automate your Refund Policy with MagnaPass

Configure a custom refund policy in your MagnaPass account to control if, when, and how clients should be refunded when a booking is cancelled.

8 Oct 2021

Flexible Package Settings for Quick and Easy Setup
Flexible Package Settings for Quick and Easy Setup

Customise your packages with new options to control when and how clients use their passes.

1 Oct 2021

How the Account Tab Improves Client Experience
How the Account Tab Improves Client Experience

Clients can manage their own accounts through MagnaPass including their bookings, passes, password and more.

24 Sep 2021

Save Money with the MagnaPass Yearly Plan
Save Money with the MagnaPass Yearly Plan

We're introducing a new way of paying for your MagnaPass subscription. Pay yearly and get a great discount!

10 Sep 2021

Integrating your Zoom account with MagnaPass
Integrating your Zoom account with MagnaPass

How to setup your Zoom integration, add automatic Zoom meeting links to your sessions and how to disconnect the Zoom integration.

27 Aug 2021

The MagnaPass Client Booking App
The MagnaPass Client Booking App

Clients can now download our apps on any iOS and Android device to book their favourite classes.

13 Aug 2021

The MagnaPass Guide to MEMBERSHIPS
The MagnaPass Guide to MEMBERSHIPS

Our easy guide to setting up Memberships. Offer your clients membership plans and receive regular automatic payments.

30 Jul 2021

The MagnaPass Guide to PACKAGES
The MagnaPass Guide to PACKAGES

Our easy guide to setting up Packages. Allow your clients to purchase a block of passes to use on your services.

16 Jul 2021

The MagnaPass Guide to ONLINE SERVICES
The MagnaPass Guide to ONLINE SERVICES

Whether it's a live stream or prerecorded content, here's how you can create, schedule and deliver your services online using MagnaPass.

2 Jul 2021

The MagnaPass Guide to EVENTS & WORKSHOPS
The MagnaPass Guide to EVENTS & WORKSHOPS

Our quick and easy guide to events and workshops using MagnaPass includes creating, scheduling, taking bookings and payments.

18 Jun 2021

The MagnaPass Guide for CLIENTS
The MagnaPass Guide for CLIENTS

Here is an easy and simple user guide to help your clients use the MagnaPass system.

4 Jun 2021

The MagnaPass Guide to CLASSES
The MagnaPass Guide to CLASSES

If you need to take quick and easy online bookings and payments for your weekly recurring classes, look no further. MagnaPass gives you a simple and cost-effective online booking software to do just that!

21 May 2021

The MagnaPass Guide to COURSES
The MagnaPass Guide to COURSES

Whether you offer yoga, Pilates, bootcamps, meditation or any other service: Here's our guide to managing courses through MagnaPass!

7 May 2021

Is it Time to Get a Booking System?
Is it Time to Get a Booking System?

It could be time to join independent wellness professionals and studios everywhere in getting an online booking system.

23 Apr 2021

The MagnaPass Guide to REPOPENING
The MagnaPass Guide to REPOPENING

Following the UK Government announcement, outdoor sports and fitness returns on 11th July 2020 and indoor gyms and studios can reopen on 25th July. We're here to break down the guidelines so you can reopen your gym or studio safely.

13 Jul 2020