We are happy to release a brand new field in our form builder that lets users collect fixed payments!
To get started, you will first need to set up a legal entity and payment account in Gecko. This is where you configure your bank account details for where you'd like payouts to go to. To set this up, navigate to Settings > Payments Accounts and set up a New Legal Entity using the button in the top-right.
Enter the relevant details of your institution or enter N/A where it does not apply. Once done, add the contact details and a proof of ID for your Business Representative. You can add as many business representatives as needed using the Add Additional Owner button. Providing these details allows our payment processor to verify the identity of all account holders and it is an important—and required—step toward reducing risk on our platform when using payments. Every country has its own laws when it comes to paying out funds to individuals and companies. These are typically known as “Know Your Customer” (KYC) regulations.
The short explanation of why we need to verify and have contact details of an account is to allow our payment processors or financial authorities to contact that organisation or person and check the validity of a transaction if it ever gets flagged as being suspicious.
Once you're done setting up a legal entity, you can start adding bank accounts linked to that legal entity using the "New Bank Account" option. This will allow you to add bank accounts into the system that can be used as the destination for all the payments made via the payment field.
Usually, it will take 3-5 business days to approve and completely process a transaction, at which point it will be available to be paid out into your bank account. By default, payouts will be issued on a daily basis for any funds that are available. You can contact our support team to change the payout schedule to be weekly, monthly or upon request.
Once you're done setting up your bank accounts, you can start using the payment field in your forms. Simply go to a form , and in the "Form Fields" tab, find the Payment field and drag it into the form.
Click on the field to edit its options. If you mark a field as required it will not allow the user to submit the form without completing the payment. The form will never process or save any of the other data entered until the payment is successfully processed. That being said, you can have multiple payment fields in a form that are marked as required, and then hidden through form conditions and the system will intelligently ignore those.
In the options tab of the payment field you can choose the bank account into which the funds should be deposited and the amount to be charged through the field. The currency will be picked up from the configuration on the bank account.
You can view all transactions in the Payments section of the system, accessible through the nav menu on the left.
You can search for payments by contact name using the search bar at the top right, or you can filter by payment status using the filtering menu on the left of the payments table. Last but not least, the blue actions dropdown lets you access the option to issue a refund on a specific payment.
Frequently Asked Questions
Q: Why is it labelled as Beta?
You might have noticed that the payments field is labelled as Beta, which is to signify that the feature is still very new and there may be issues our users can uncover through real world usage that we have missed in testing.
We have been testing payments for over two months, and for the last 4 weeks some of our clients had early access to the payments feature and have used it to process over £50,000 in "real world" settings. The early rollout was very successful, which gave us confidence to release it to a wider base whilst still labelling it as "Beta" in order to inform our users to watch out for any issues that may have been missed.
Q: How are payments processed ?
All payments are processed using Stripe, a leading payments processor, to ensure that all transactions are processed securely. Payment details are never stored or processed within Gecko and transactions are handled entirely by Stripe.
Q: What do you have planned next for payments ?
We've got further improvements planned to the payment field in the near future and we are actively looking for methods of linking payments to event registrations in a seamless and flexible manner.
Q: Who is getting access to this update ?
Our customer success team will be enabling this option on an account by account basis. If you don't see payments in your nav menu , please contact the support team and they will be able to assist.
Q: What are the fees for processing it
Gecko will charge a flat £0.20 plus 3.4% of the transaction value on any UK/European card payments. Non-European cards are charged at a flat £0.20 fee plus 4.9% of the transaction value. These fees may vary depending the on the card issues, country and currency.