IdeaPay
- Elaine Andersen
- Andrea Keithline
IdeaPay is a built-in payment system designed to help you accept payments from customers seamlessly. It eliminates the need for external services like Stripe and Authorize.net, creating a smoother checkout experience that boosts buyer confidence.
In addition to standard payment options, IdeaPay supports direct bank transfers via ACH and bank transfers through Plaid, with more payment methods to be added in the future.
Powered by Adyen, a leading global fintech provider trusted by companies like Spotify, Uber, and eBay, IdeaPay ensures secure and reliable payment processing.
Why Choose IdeaPay?
IdeaPay offers a fully integrated purchasing experience within IdeaRoom, the leading platform for designing structures and collaborating with customers. Our checkout process is optimized for IdeaPay, ensuring a smooth and seamless experience for your customers.
With IdeaPay, you also get access to more payment options and lower transaction fees:
Credit Cards – 2.7% fee
ACH Transfers – 1% fee
Pay by Bank via Plaid – 1% fee
Payment options like Rent to Own and Financing will continue to work as they do in IdeaRoom today--by directing the user to an external website to complete the application and payment process.
To Add IdeaPay to your IdeaRoom Site
In SalesView, go to the Payments tab. Your initial page outlines the benefits of IdeaPay and the fees associated with each type of transaction.
Click Get Started to begin the onboarding process.
Below are a few key fields required during IdeaPay onboarding with a brief description:
Field | Description |
|---|---|
Legal entity name | The name of the company as it is registered for business with your state. |
Shopper statement | The name that will display on your customer’s bank statement |
Employer Identification Number (EIN) | Your unique nine-digit number assigned by the IRS (Internal Revenue Service) for tax filing, hiring employees, opening business bank accounts, and other official purposes |
Company Structure | The type of company (private, public, non-profit, or government) determines the type of verifications that will be run prior to approving you to use IdeaPay |
Decision Makers |
A single person can be listed for all three roles. |
During onboarding, you’ll need to add a bank account for receiving payouts from purchases made through IdeaPay. To verify your account, you can use a mobile app, website, or upload a bank statement, deposit slip, check, or an official letter from your bank.
The final step of onboarding involves reviewing and accepting legal agreements related to compliance. Since IdeaPay is powered by Adyen, you must comply with Adyen’s policies, as well as regulations set by credit card companies (such as Visa and Mastercard) and government agencies.
After you have completed the onboarding process and signed the official documentation, your application will be reviewed and approved.
This process may take up to several days. During this time, your Payments tab in SalesView will appear like this:
You can check back periodically to be alerted to any errors or issues with your application. You will receive an email when your application has been approved and you are ready to accept payments with IdeaPay.
For Existing IdeaRoom Sites with Checkout
If you're currently using Stripe or Authorize.net to accept payments, you'll need to request their removal from your checkout by contacting IdeaRoom. To do this, submit a request using the Help button in the lower right corner of your SalesView window.
IdeaPay will be automatically added to your IdeaRoom site, but you'll need to reach out to IdeaRoom to disable your existing payment methods.
For Existing IdeaRoom Sites without Checkout
During the IdeaPay onboarding process, checkout will be automatically enabled on your site, offering customers three payment options: Credit Card, ACH, and Pay by Bank.
If you need to make changes to these options, submit a request using the Help button in the lower right corner of your SalesView window.
IdeaPay Supported Payment Methods
Credit Cards
Requires a credit card and CVV code
Money is captured immediately
Incurs a 2.7% service fe
ACH
A bank transfer made directly to the bank
Requires a routing number and account number
Money is captured from the account within three (3) business days
Incurs a 1% service fee
Pay By Bank
A bank transfer via Plaid
More secure than ACH
Requires a bank login (username and password)
Money is captured from the bank account immediately
Incurs a 1% service fee
ACH & Pay By Bank is supported for Boost only. It is not supported for Modern or Classic UI.
Payouts
When IdeaPay transfer money for purchases into your account depends on the type of transaction, when the transaction occurs, and the payment method. Below is the workflow associated with a payout:
Payments capture: Up to three (3) business days
Payments transferred to balance account in Adyen: Up to two (2) business days
Payout to client’s bank account:
Payments in balance accounts by 6 PM CT - the next day business day
Payments in balance accounts after 6 PM CT - the day after the next business day
With these timeframes above, you may wait as long as six business days for money to be deposited in your account.
Refunds
We will enable refunds on orders through SalesView that have not yet been paid out to your bank account. If the funds have already been transferred to your bank account, the refund must be managed directly with your customer.