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Processor: Stripe

Introduction​

Lendiom initially partnered with Stripe for payment processing due to its ease of integration. However, as of Q4 2023, Stripe is no longer accepting new Lendiom merchants. Existing customers are also subject to new requirements to continue processing payments.

To ensure uninterrupted payment processing, we strongly recommend migrating to PayArc, our new preferred payment processor.

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Stripe support will end in 2025. Please migrate to PayArc as soon as possible to avoid service disruptions.

Stripe Fees​

Stripe charges the following fees for payment processing:

  • Card Transactions: 3.5% + $0.30 per transaction
  • ACH Transactions: 1.4%

Migrating Away from Stripe​

Migrating from Stripe to PayArc is straightforward but requires careful coordination. Follow the steps below to ensure a smooth transition.

Steps to Migrate​

  1. Request a PAN Data Export from Stripe
    Use Stripe’s PAN export process to retrieve your data. When Stripe prompts you for details, respond as follows:

    • Type of Data Migration:

      Export data out of Stripe to a third party

    • Processor Export Data To:

      PayArc

    • Payment Types:

      Cards and ACH

    • File Format:

      CSV

    • Full or Subset:

      Full

    • Additional Information:

      GPG public encryption key is located here: PayArc Public Encryption Key

  2. Onboard with PayArc
    Complete the PayArc onboarding process to set up your new payment processing account.

  3. Confirm Export with Stripe

    • Stripe will email you to confirm your request for a data export. Respond promptly to approve the export.

  4. Provide Stripe Migration Details

    • Stripe may request additional confirmation about your data migration. Review and confirm the details they provide.

  5. Send Encrypted Message to PayArc

    • Stripe will send an email with an encrypted message containing your data. Forward this email to:
      • Primary Recipient: support@payarc.com
      • CC: support@lendiom.com

Need Help?​

If you have questions or run into any issues during the migration process: