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.
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).
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.
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 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.
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.
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 are 3.4% + 30p when accepting PayPal payments through MagnaPass.
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.