How to Charge Crowdfunding Fees
IgnitionDeck offers payment gateways via ID Commerce that provide IgnitionDeck Enterprise platform owners to charge crowdfunding fees on every* transaction made on projects through their crowdfunding platform.
* Fees can be optionally disabled or customized on individual projects using the Fee Mods module
Requirements for charging crowdfunding fees:
- IgnitionDeck Enterprise license + ID Commerce,
- Stripe and/or CoinPayments enabled for the platform,
- Stripe and/or CoinPayments enabled for creators,
- Creators successfully linking their corresponding payment account through the crowdfunding platform
Charging Fees with Stripe Connect
See documentation on how to set up Stripe Connect
Once Stripe Connect has been enabled in both the site and the Stripe dashboard account, select your desired Fee type (percentage or flat dollar amount) and the fee amount in the Application Settings
- Save the settings
Ensure that new project creators visit their Creator Account tab and authorize your application via Stripe Connect.
• When successful, they will see a checkmark icon in their Stripe Connect button with a message that says "Connected!"
User's dashboard—Stripe Connect confirmation • Confirmation that an account has been successfully connected can also be seen by locating the user's registered email address in the User Management menu,
Look up registered email address to confirm Stripe Connected account • or by looking up the email address within the Stripe dashboard under "Connected Accounts"
Stripe Dashboard » Connected Accounts
Crowdfunding fees are collected when the transaction is completed through Stripe. Fees on pre-order transactions will be collected when the pre-authorizations charges are completed, not at the time of the initial authorizing transaction
Charging Fees with CoinPayments
See documentation on how to set up CoinPayments
Once CoinPayments has been enabled in both the site and the CoinPayments account, enter a percentage in the field (do not include the % sign).
- Click the Save & Verify button once more.
When a payment is made on the creator's project, a percentage of those funds will be paid into your own CoinPayments account with the remainder send to the creator's account.
Transfers from the site admin account to the creator account take approximately 1 hour to be completed after the initial transaction has been completed. The fee will be deducted at the same time the transfer is made to the creator's linked merchant account.
CoinPayments does not have the tools to verify a creator has connected their account prior to a project going live and/or receiving funds; however, this can be verified with reviewing a test transaction.
To check a transfer, click on the Show Log button in the right hand panel of the CoinPayment screen:
Show Log button to review transfer The log will show the information on the transaction, amount, crypto currency used, the creator ID and their merchant ID, as well as the date and time of the transaction.
Example of the transfer log