What is KIT Pay?
KIT Pay is a payment processing platform (like Stripe/PayPal) that allows you to collect and process transactions via KIT Pages. KIT Pay is available to US KIT accounts (coming to Canada soon).
KIT Pay accepts the following payment types:
- Credit Card payments: Visa, Mastercard, and Amex.
- ACH Payments: also known as bank transfers, bank payments, e-cheque, or direct debit.
- Google Pay (coming soon)
- Apple Pay (coming soon)
Note: we are working on the ability to transition your existing recurring donations from other payment processors (i.e.. Stripe) into KeelaPay automatically with no interruption for your donors.
Why Switch to KIT Pay?
- Bank/ACH Payments - payees will be able to enter their bank account details directly into your Page, providing a flexible paying environment for your donors.
- Lower Processing Fees - our standard transaction fees and bank processing fees beat out many of our industry competitors.
- Streamlined service - we are experts in and have access to both Fundrasing KIT and KIT Pay, centralizing your information, making questions easy to answer, and troubleshooting quickly and efficiently.
What are the Processing Fees?
The three main processing fees for nonprofits are applied to:
- Standard card transactions (e.g. Visa and Mastercard)
- Amex card transactions (traditionally more expensive than the above two)
- Bank transactions (e.g. ACH+)
The processing fees that you're charged will depend on what type of Merchant Category Code (MCC) your organization is eligible for when signing up for Keela:
- MCC 8398 - Charitable and Social Service Organization (if you're eligible, you will receive a reduced standard transaction rate for Visa and Mastercard charges).
- MCC 8641 - Civic, Fraternal, and Social Associations
- MCC 8661 - Religious Organizations.
|Charitable & Social Service Organizations||Other Organization Types|
|Merchant Category Code||MCC 8398||MCC 8641 & 8661|
|Visa / Mastercard / Discover||2.2% + $0.30||2.2% + $0.30|
|AMEX||3.2% + $0.30||3.2% + $0.30|
|eCheck (ACH) Processing Fees||$0.75||$0.75|
|Per eCheck Sale/Refund/ Verification||$0.75||$0.75|
|Per eCheck Return||$3.00||$3.00|
|Refund / Authorization Reversal||$0.10||$0.10|
|Chargeback and Retrieval Requests||$20||$20|
|Merchant Setup Fee||$10.00||$10.00|
|Monthly Account Support||$0.00||$0.00|
How are Payments Processed with KIT Pay?
(1) Authorization - when a contact uses their credit card via KIT Pay, an authorization request is generated by KIT Pay and sent to the constituent’s card network or card issuing bank. This authorization process, essentially verifies with the card network or bank whether the funds are available. This process determines whether a transaction is declined or approved.
(2) Capture - If the constituent's card company or bank verifies that the funds are available, they place a hold on the funds (capture) and let KIT Pay know. The transaction is now approved in KIT Pay and is marked with the 'Succeeded' status.
(3) Settlement - The process of transferring funds from the contact's credit or bank account to KIT Pay is called settlement. Once a transaction settles, the funds are available in your KIT Pay account as part of your balance.
Enrolling in KIT Pay
Apply for a KIT Pay account, and once approved, add KIT Pay to your KIT Pages.