At Kinderpedia, we aim to provide clarity and transparency regarding the payment process facilitated through our platform. To address concerns about the commission charged during transactions, here’s an explanation of how it works and the roles of all parties involved.
How the Stripe Commission Works
Stripe applies a 1.26% processing fee to every transaction made through its platform. This fee is not set or held by Kinderpedia but covers payment processing services provided by Visa, MasterCard, banks, and other entities involved in the payment chain. This commission is standard in online transactions and ensures secure and efficient payment processing.
Who Decides on the Commission?
The decision on how the commission is managed lies entirely with the school issuing the invoice. Schools can choose whether:
The parent pays the additional fee on top of the invoice value.
The school absorbs the fee, receiving the invoice amount minus the commission.
Parents are informed about the commission during the payment process and can review the total amount before completing the transaction.
Refunds and Commission
If a commission is charged during payment, it cannot be refunded by Kinderpedia. This is because the processing fee is collected by Stripe and other third-party entities such as Visa, MasterCard, or financial institutions as part of the transaction.
For parents who pay the additional fee on top of the invoice value, it’s important to note that:
A parent cannot request a refund of only the commission while agreeing to the invoice value.
Refunds can only be requested for the full invoice amount, and this request must be made to the beneficiary of the payment (the school).
Even if the school processes a refund, it can only refund the value of the invoice, as the commission and card fees have already been processed and retained by third-party payment institutions.
The Relationship Between Parents, Schools, and Kinderpedia
To clarify:
Kinderpedia serves as a third-party platform that facilitates interaction between parents and schools.
The contractual agreement exists solely between the parent and the school.
Kinderpedia does not hold any contract with the parent related to invoices issued or payments made.
Our Role in the Process
Kinderpedia provides:
Tools for schools to issue invoices and integrate payments through Stripe.
A facilitated connection between schools, parents, and the Stripe payment platform.
We do not control or influence the processing fees, our role is limited to offering a platform that streamlines administrative and financial workflows for schools.
By understanding these details, we hope to clarify our position and the mechanisms behind the payment process.