Sorority & Fraternity Credit Card Processing
QuadraPay provides merchant services to a variety of clubs, including sororities and fraternities. Our solutions are available to clubs operating in North America, Europe, and the UK. These solutions are powered by some of the finest sponsor banks.
Sorority Credit Card Processing refers to a merchant account specifically designed for sororities, which allows these clubs to easily accept, manage, and process credit card payments for dues, donations, events, and other related financial transactions. Fraternity Credit Card Processing is similar, allowing fraternities to handle payments for member fundraising, event ticket sales, and other financial transactions. Sorority and fraternity clubs also use merchant accounts to sell merchandise and offer membership and renewal of the club.
Fraternities and sororities are social organizations on college campuses that offer students the opportunity for leadership, community involvement, and personal growth. Fraternities generally focus on developing brotherhood and are men’s clubs, while sororities focus on the development of women and the growth of sisterhood. They both focus on academic success, philanthropy, and intellectual advancement. Overall, they create a supportive community that improves the college experience. Some organizations offer strong alumni networks that help members professionally after graduation.
A few well-known examples of such clubs include Alpha Kappa Alpha (AKA), Delta Sigma Theta (DST), Sigma Alpha Epsilon (SAE), and Sigma Chi (ΣΧ).
Online Credit Card Processing for Sorority & Fraternity Clubs
Online credit card processing for sorority and fraternity clubs is important for managing donations, event ticket sales, membership fees, and merchandise transactions. The online payment gateway we offer does not require club administrators to be tech-savvy; they can easily use it without complex IT training. The online payment gateway can be easily connected to the sorority and fraternity website and mobile application.
Our internet payment gateway solution complies with industry standards required to protect financial data for both customers and merchants. Additionally, the online payment gateway includes built-in advanced fraud detection and prevention tools that reduce the risk of chargebacks and disputes.
Many sororities and fraternities require a recurring billing facility where members can make automatic monthly payments. Our gateway includes a subscription option that helps automate these payments. This feature reduces manual work and eliminates the possibility of human error. With detailed API documentation, it becomes very easy for club members to integrate the payment gateway into popular fundraising platforms.
Retail Credit Card Processing for Sorority & Fraternity Clubs
Sometimes these clubs require retail credit card terminals for accepting face-to-face payments at events. With retail credit card terminals, clubs can sell club-branded merchandise or event tickets. Our retail credit card terminals can be easily connected to point-of-sale systems designed for sororities and fraternities, featuring advanced capabilities like inventory tracking, sales reporting, and real-time transaction data analysis.
Mobile credit card terminals are compact and can be used by clubs to accept on-the-go payments. We also offer credit card readers that can be easily connected to mobile phones or tablets to process payments. These devices are built on high-end hardware and software infrastructure and can handle high-speed transactions with minimal downtime. Clubs can accept payments through various modes, including credit cards, debit cards, contactless payments, Apple Pay, Google Pay, and more. If the club has a gift card or loyalty program, it can also be integrated into the retail credit card terminal.
KYC (Know Your Customer) for Sorority and Fraternity Club Credit Card Processing
KYC is an important process when it comes to approving the credit card processing account for sorority and fraternity clubs. The acquiring bank or the payment service provider will ask the club to submit a set of important documents for verification. This is done to prevent fraud and maintain regulatory compliance.
The underwriting team will verify the club’s legal status. For this, the club members can provide registration of the non-profit organization or any other similar licenses. Some large clubs operate on a commercial model and may have proper limited company or incorporation registration. In such a case, the certificate of incorporation should be submitted to the underwriters.
For the address verification of the club and the key stakeholders, a recent utility bill is required. This can be an electricity bill, gas bill, or municipal bill.
The payment processor will send the funds to the registered bank account of the club. For this, the club members can submit a letter from the bank confirming the account details or a voided check. Please keep in mind that the name on the account should match the name of the applicant club.
The personal identification documents of the key stakeholders are also required. They can submit photo ID like a driver’s license or passport.
Other documents that are required include domain registration proof, photograph of the club’s physical location and previous processing statements. The payment processor may ask for additional documents based on its requirements.
FAQ Sorority & Fraternity Clubs Merchant Services
What challenges do sorority and fraternity chapters face when managing billing?
Clubs generally face difficulties in ensuring that a large number of transactions happen at the right time without missing payments. Another problem is members using a variety of payment methods—some may be paying in cash, while others pay by credit or debit cards. When a club implements a payment gateway and merchant account with the club website, it can easily and efficiently manage all transactions, including timely payments for vendors and dues collection.
What is the importance of sorority dues collection?
Dues collection is extremely important for the survival of a chapter. These fees help the club cover the costs of various activities, including philanthropic projects, events, national fees, and other regular expenses.
