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Link to original content: http://stripe.com/en-at/payments/canada-pads-debit
Accept pre-authorised bank debits (also known as PADs or ACSS) from Canadian customers for large or recurring charges to minimise payment failure and lower transaction costs.
Card payments are often declined because card details are lost, expired, or rejected. PADs on Stripe have a 98% payment success rate.
By debiting your customer’s bank account directly, you can capture cost savings on transaction and dispute fees compared to cards.
Stripe handles end-to-end requirements for PADs, including mandate collection, notifications, and verification.
PADs on Stripe come with built-in instant verification and can be added to any Stripe integration – including Billing and Connect.
Bank debits allow you to pull funds directly from your customer’s bank account for one-time or recurring payments. To initiate a bank debit, a customer provides their bank account details during checkout and gives you permission to debit the account by agreeing to a mandate.
Instead of manually entering bank account information and micro-deposit amounts, customers can input their online banking credentials to instantly verify their bank account.
Stripe makes it easy to collect mandates from customers for any type of billing schedule. Stripe automatically handles notifying customers about upcoming debits and completing debits so you are fully compliant.
Add pre-authorised debits to any type of Stripe integration to benefit from faster deployment and unified monitoring and reporting. There’s no application, onboarding, or underwriting process to get started.
Stripe Invoicing, Billing, and Checkout make it even easier to collect bank debits for one-off or recurring payments. Hosted mandates reflect your payment terms, and debits are automatically initiated.
Through Connect, platforms and marketplaces can easily enable PADs as a payment option with built-in instant verification; no work required by your merchants.
Through a single integration, we are able to offer non-profits on our platform easy access to pre-authorised debits in Canada that reduce payment failure and lower costs.
BDO continues to invest in enhancing client experience – expanding our use of the integrated Stripe platform to support pre-authorised debits in Canada offers our clients increased flexibility of payments.
There’s no paperwork for eligible businesses to start accepting pre-authorised debits on Stripe. Stripe supports PADs for businesses based in Canada and the United States.
Learn more about our transparent per-transaction pricing.
Stripe supports bank debits around the world, including ACH Debit and SEPA Direct Debit.
