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Common questions about setting up Rose Rocket payments
Which payment methods are accepted?
Bank transfers and major credit cards, including MasterCard, Visa, and AMEX, are accepted.
How much will it cost?
There are no additional charges to set up online payments. However, there are processing fees charged for each transaction. See below for a breakdown of fees:
- Bank Transfers: 0.5% per transaction, capped at $10
- Credit Cards: 2.9% + $0.30 per transaction
How long will it take to receive the payment?
Processing times are 4-5 business days for bank transfers, and 1-3 business days for credit cards.
How will my customers pay me?
When you send an invoice from Rose Rocket to your customer, it will include a button to Pay Online. When customers click that link they are brought to page for your invoice, they can select their payment method (credit card or bank transfer) and complete payment.
How do I know when my invoice has been paid?
You will receive an email notifying you that the invoice has been paid. This email will be sent to your contact email, which you can change in your Account Settings. Invoices paid via Rose Rocket Payments are marked as paid in Rose Rocket.
You can also see all of your incoming payments and deposits on the Payments page. When reconciling your invoices, you can use the Deposit Report to see details for which invoices were paid. The Deposit Report will include details for what invoice was paid to assist in reconciliation.
See below for an example of the Deposit Report.
Deposits batch together all payments for a single day. When you click into a deposit, you can see which invoice payments are included. You can even download a .csv file of the payments for easy reconciliation.
Does Rose Rocket Payments impact the way I am getting paid today?
No, this will not impact the way that existing customers pay. Rose Rocket payments is another option for how your customers can pay you. All existing payment methods can continue as you have them set up.
How does the payment show up on the customer’s credit card statement?
The payment will show up as a payment to the DBA name you provided on your payments application. It will not say the payment is for Rose Rocket. For example, if your DBA was “Reliable Brokerage”, the line items would show up like this:
- Credit Cards: “RF*Reliable Brokerage”
- Bank Statements: will contain “Reliable Brokerage”
I’ve already sent some invoices. Can I give my customers to pay online if the invoice has already been sent?
Yes! As long the invoice hasn’t been paid, you can resend the invoice to your customer. It will now include the option to pay online.