Stripe Account Setup
- Jhetah Mae Leornas
- January Abigail Ardiayon
After creating your Stripe Account, set up your account with the following:
Upgrading Stripe API Version
Upgrade your Stripe API version default to 2022-08-01 or later, if you are still using the older versions.
Go to Homepage > Developer > Overview tab > API Version > Click Upgrade available…
Click Upgrade to upgrade the API Version.
After clicking the Upgrade button, the page will refresh, and the latest version of the API will be reflected.
Enable Payment Method
Enable the following Payment Methods in your Stripe Account. To enable Payment Methods, go to Payment Settings and click the Turn On button.
Set up the Default Payment Method for Invoices and Subscription
Before setting up the Default Payment, make sure you have enabled the payment methods for card and BECS Debit. The Stripe needs to be in live mode, not Test Mode, to set up the default payment for invoices and subscriptions.
Go to Billing > Invoices > Default Payment Methods
In the Default payment method section, navigate to the Payment method configuration and choose the Payment Method group that includes the card and BECS Debit options you have previously enabled. Make sure to save after.
How to configure Payouts on your dashboard
Go to Balances and click Manage. See the sample screenshot below.
When the Manage payout schedule is clicked, a user can select either manual or automatic.
More details about the payout schedule are here.
Set up the Smart Retries on a Stripe account
Open your Stripe Account and go to Billing.
In the Invoices tab, locate Advanced invoicing features.
In the Retry schedule select Use custom retry schedule for one-off invoices.
Select your preferred retry schedule.
Click Save.
How to configure Block Rules for Fraud Detection (Radar)
Go to Homepage > Search for Fraud/Radar in the search bar above > Click the Rules tab
In the Rules tab, you can review the specific conditions of the block rules and Authentication rules that have been established.
To configure fraud detection, you'll need to click on the "Add Rule" button. Doing so will display the “Create Rule” interface on the right side of the screen. This is where you can specify the rules for blocking payments.
After you have added the conditions, click on “Test Rule". You will then be redirected to the “Review Rule” page to check and review the new rule before it is added.
In the "Review new rule" section, you can check the conditions and see if there are any errors or important notices before adding the new rule. After carefully reviewing, click the Add Rule button to successfully add it.
After adding the rule, the newly added rules or conditions will be reflected under the Block Rules.
Stripe will follow the conditions established in the Block Rules. If the payment meets these conditions, it will be tagged as Fraud and blocked.