How to setup Stripe-Plaid authentication?

Modified on: Mon, 19 Jul, 2021 at 12:12 PM

Scope

I want my Stripe account verification to happen Via Plaid, a third-party application that authenticates bank information.


Using Plaid

Plaid is a third-party application that allows for quick authentication of bank information, enabling instant verification of bank details and payment collection.

Note: Plaid is a paid service. Since Plaid is an instant verification payment method, customers will be charged immediately.

To allow your customer to verify their bank accounts using Plaid, follow these steps:

Step 1: Setup/Connect your Stripe and Plaid accounts

Connect your Stripe and Plaid accounts so that Plaid can facilitate the creation of bank account tokens on your behalf. Find out more about how to do this on Plaid's page.

Step 2: Connect your Chargebee and Plaid accounts

  • Navigate to Settings > Configure Chargebee > Payment Gateways > Stripe

  • Enable the Use Plaid for Instant Authentication option

  • Connect Plaid to Chargebee by entering your

    • Client ID and Public and Secret API Keys: This information helps Chargebee connect with your Plaid account. You can find this information in your Plaid Dashboard by navigating to Team Settings > Keys.

Step 3: Checkout page and customer portal setting

  • Choose customers for whom you want to display direct debit as a payment method in the Chargebee checkout and self-serve portal. Select the necessary option from Display Direct Debit as a payment method for setting at the bottom of the page. Available options are:

    • All your customers - This option allows all your customers (including new customers) to pay via ACH irrespective of whether the Allow this customer to pay via his/her Bank Account option is enabled on the customer's details page.

    • Only customers with Direct Debit enabled

Note: This option is applicable for direct debit payments via Stripe ACH (Plaid only) and SEPA.
  • Finally, click Apply option at the top of the page to save your ACH settings.

Once you have completed these three steps, your customers will be able to verify their bank accounts using Plaid when they choose ACH as their payment method.

When your customers are setting up ACH payments, they will be redirected to Plaid. Plaid verifies bank details using the customer's (bank account related) log-in credentials. Once verified, customers are redirected back to Chargebee's hosted pages where they can enter their personal details, shipping, and billing addresses, and so on, and complete their payment.


M
Monica is the author of this solution article.

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