Everything you need to know about the changes coming to Owl's Stripe Integration in May 2023.
When will the new Stripe integration for Owl Practice be available?
We expect the new Stripe upgrade to be available to all users in May 2023. We’ll send an update once it has launched with next steps for you to follow so you can complete the upgrade for your account.
What enhancements will this upgrade bring to Owl Practice for users already transacting via Stripe?
Owl Practice clients using the upgraded Stripe integration will be able to accept payments direct from client bank accounts with our new EFT processing functionality! Meaning no more extra keystrokes and mouse clicks or added reconciliation steps to manually update payments records when clients chose to pay invoices via bank account.
Will my processing fees be increased if I upgrade?
No. Although some practice management services have recently elected to increase their fees for integrated payments processing, Owl Practice will not be doing that to our users. You will continue to be billed the same fees for credit card processing as before: 2.9% + 30¢ per transaction.
What will it cost to process EFT transactions?
The new EFT processing option has processing fees as well, which will be billed the same way as your credit card transactions are today, on a per transaction basis. The fee for EFT transactions is 1% + 30¢ per transaction.
Will I be able to add bank account acceptance in Owl Practice if my practice uses a non-integrated provider?
No. You will still be required to look up individual client records and perform the same keystrokes and mouse clicks you're currently using today when accepting payments through your current 3rd party provider.
If we were to switch electronic payment acceptance to Stripe, will my practice receive support along the way?
Yes! In addition to a set of easy-to-follow instructions, the Owl Practice Support team will provide any guidance you need to convert seamlessly to the new solution. It’s also important to know that any credit cards you’ve already saved to your client profiles will continue to work after you’ve made the upgrade. You will not need to collect card numbers again from your existing clients or re-input their information; the cards you’ve already stored on file in Owl for your clients can continue to be charged exactly as they are today with no additional work needed on your end.
Will I need to notify my clients of any changes?
No. There's no need to inform your clients of the changes. You'll simply be upgrading your existing integration to Owl's most current version. All of the cards you've already saved to your client files will continue to process as before. You will not need to collect their card details and re-input them. The only thing that will change is that you can accept EFT transactions. After you've upgraded, you can let clients know this is an option for payments and you'll need to collect their banking information securely to add to their payment methods section, the same as you would when collecting new credit card details.
Before I decide to take action, how can I get more information on how the Stripe integration can streamline my practice business operations and allow me to see more clients ?
Our Customer Advocacy team will be hosting a webinar next month to show users how they can complete the upgrade and to answer any user questions as well. We will be recording the webinar for those that are unable to attend and sending an email with the link so you can view it when you have time. You can also contact our support team by sending an email to support@owlpractice.ca any time you have questions!