Merchant Accounts

What are Merchant Accounts?

A Merchant Account is an account created within the 3rd party payment service (Stripe) used by Dive 365. The Merchant Account allows for all financial transactions between Dive 365 and the Organization. The Dive 365 service uses Stripe as the payment service.

How do Merchant Accounts work?

When an Organization is onboarded to Dive 365, they must connect their own Merchant Account to Dive 365. This involves following an onboarding process from the 3rd party payment service. Organizations will be required to ensure that the Merchant Account is fully configured before their Store is allowed to be enabled.

How to: Onboard Stripe

Once a Merchant Account is created, it is connected to the Dive 365 platform account in the payment service (Stripe). This allows for financial transactions between Dive 365 and the Organizations to occur. For example, when a Member purchases a Registration Category, payment must flow to the Organization (the club) as well its parent Organizations (i.e. PSO and NSO).

The Merchant Account also allows for the flow of Fees between Dive 365 and Organizations.

Additionally, the 3rd party payment service also manages subscriptions created as a result of invoked Payment Plans.

Important notes

Dive 365 does not have access to sensitive data about your Organization. Dive 365 will see your list of directors and the fact that you have a connected bank account (which enables payment transfers).

Permissions

The "organization contributor" Role is required to view or modify Merchant Account details.