Accepted Payment Methods
StudioPay supports a variety of payment methods for your convenience. These include:
ACSS – Canada Only (Automated Clearing Settlement System)
ACH – US Only (Automated Clearing House)
Major Credit Cards:
Visa
Mastercard
American Express (Amex)
Discover
Processing Fees
StudioPay processing fees are as follows:
Credit Card Transactions: 3.9% per transaction
ACSS: 1.2% per transaction
ACH: 1.2% per transaction
Return Fee: $ 4 per returned ACH transaction
Dispute/Chargeback Fee: $ 10 per disputed credit card transaction
Accessing Your StudioPay Dashboard
To manage your payments, view transactions, and perform other account actions, you can access your StudioPay Dashboard. Simply log into your StudioPay Dashboard using your credentials. You can also access your dashboard by clicking StudioPay Dashboard under Studio Settings > Payments.
Refunding a Payment
To refund a payment, follow these steps:
Go to the Transactions page in your dashboard.
Locate the transaction you wish to refund.
Click on the Transaction ID to open the transaction details.
In the top-right corner, click the Refund button to initiate the refund.
To refund a partial amount, make sure to choose the “Refund a custom amount” and enter the amount below.
Transaction Declines
If a transaction fails or is declined, you can easily track and view the status on the Transactions page of your StudioPay dashboard. Find the failed transaction by filtering for “Rejected” > Select the transaction in question. You can find the rejection reason under the Events section of the transaction.
In some cases, the rejection can be very general. This is usually due to card brands sending over generic declines. If you have questions about a failed transaction, please reach out to support for more information.
Handling Disputes
If you encounter a dispute with a payment, Mydoma offers support to help resolve the issue. Detailed information on how to manage disputes is available through the dashboard, and you can contact support@mydomastudio.com for additional assistance if needed.
Availability by Country and Currency
StudioPay is currently available in:
Countries: Canada and USA
Currencies: Canadian Dollar (CAD) and US Dollar (USD)
Note: StudioPay does not support cross-border transactions for ACH and ACSS. If you are located in Canada, you will only be able to process CAD payments. If you are located in the US, you will be able to process USD payments.
Viewing Your Payouts
To view your payouts, navigate to the Batches Page in the dashboard. This page provides a list of all your disbursements. For a detailed breakdown of a specific payout, click on the Batch ID associated with that payout. This will open the Payout Details Page, where you can see what transactions have been included in that payout along with the associated transaction fees.
How Payouts Work
StudioPay processes payouts on a daily basis. Here's how different payment methods affect payout timing:
Credit Card Transactions: Typically take 2 business days to process.
ACH (Bank Transfer) Transactions: Can take up to 5 business days to process.
Once a payout is processed, you can view and track it in the Batches Page of your dashboard.
FAQs
How can I sign up for the StudioPay early access program?
Please reach out to support@mydomastudio.com
What do I need to sign up for StudioPay?
For each of your company's owners (individuals who own 25% or more of the business), you'll need:
Full legal name
Date of birth
Social Security number
Physical Address (P.O. Boxes not accepted)
Ownership %
Business Title
You'll also need:
Your company's EIN
EIN confirmation document from the IRS (SS4/CP-575, tax return, 147-C, etc.)
Business Establishment Date
ACH monthly count
ACH monthly volume
A checking or savings bank account to connect
Driver’s License photo (Front and Back)
How long does it take to be verified by StudioPay?
Applications can take up to 5 business days for approval. If you haven’t received approval within that specific timeframe, please reach out to support@mydomastudio.com.
What should I do if a payment fails?
In most instances, payments will fail due to bank declines such as insufficient funds or incorrect card credentials. Please have your client try another form of payment in these instances. If you receive an error message that you are unsure of, please reach out to support@mydomastudio.com for assistance.
How can I reset my password?
Click “Forgot password” on the login screen.
How can I pass the fees onto my client?
You can pass the fees onto your client by enabling the fee pass-through feature:
Head to Studio Settings
Click “Payments”
Enable “Pass fees to client” option
