Challenge

Targeted Victory needed a payments processor that could move as fast as constantly-evolving political campaigns. The company wanted to eliminate slow processes like manually accounting amounts owed and sending paper checks and wire transfers.

Solution

Targeted Victory switched from Braintree to Stripe and now uses Stripe Connect to automatically distribute funds to clients and partners more efficiently. With Stripe, Targeted Victory can now issue payments in near real-time and deliver funds to clients as soon as they arrive. Stripe Connect enables Targeted Victory to programmatically route funds at the time of transaction so that donations automatically end up exactly where they are supposed to be – in candidates’ campaign accounts.

For example, Stripe has allowed Targeted Victory to direct funds from a single transaction to multiple clients or vendors. This has opened up a new way for campaigns to automatically pay vendors for their services. Before, vendors would need to manually invoice campaigns for their services, but these payments are now automated and the campaigns and vendors can be paid out at the same time. This means less manual accounting for Targeted Victory, campaigns and our partner vendors.

Results

With Stripe Connect, Targeted Victory automatically pays quickly and accurately and reduced time spent on accounting by 50% in the first month of using Stripe.

The company also implemented Stripe Elements, pre-built UI components that help create custom, secure, and compliant payment forms. Elements drastically reduced Targeted Victory’s PCI compliance obligations from a lengthy manual audit to a pre-filled form automatically generated by Stripe, and helped Targeted Victory cut its chargeback rate in half.