We’ll review and break down all of that as well as how Skool compares to other online community and course platforms.
What Is Kajabi Payments?
Kajabi launched their very own payment platforms, which will be an alternative to the current Stripe and Paypal integrations.
This means that you can replace these payment processors with the new Kajabi Payments feature.
Of course this is optional and you can continue using Stripe and Paypal if you prefer.
The advantage of using Kajabi Payments, which we’ll break down further in this article, are the additional features that come with having an integrated payment system.
Note that although this is a separate payment processor, this is a partnership with Stripe and essentially a white label version of the platform.
What Can You Do With Kajabi Payments?
As Kajabi offers this new way of taking payments natively integrated to its platform, there are a few exciting things to know.
First off, Kajabi Payments fees will be on par with Stripe: 2.9% + 30¢ per transaction
So you might ask, why even bother using Kajabi Payments if the fees are the same?
Well there are a few reasons, one of them being the additional payment options that Kajabi Payments will offer.
On top of accepting VISA and Mastercard credit card, you will also be able to accept payment via Google Pay and Apple Pay.
AfterPay is also available to allow your clients to pay in installments (but upfront to you).
Some study show that this can boost your average transaction value by 40%.
Adding more payment gateways is a way to optimize for conversion by allowing more options for your clients.
But here is another important thing to note if you choose to go for Kajabi Payments.
Since this will now be your payment gateway, all payment information, payout to your bank account, and charges will be there.
This new dashboard will replace what you have already in Stripe, only maybe with fewer features.
You’ll also find things like payment disputes, subscription information,etc.
If you’re currently using Stripe in your Kajabi account, you’ll need to follow a few steps to convert it to Kajabi Payments: you can’t have both Stripe and Kajabi Payments active.
More exciting features that come with this new platform:
Kajabi will soon allow for Tax calculation, so that VAT and sales tax are automatically calculated and added to the purchase price (if you want to) based on the customer’s location!
This is a long awaited feature and will help course creators to ditch 3rd party tools like Quaderno.
You will also now be able to create Kajabi Pop-up Checkout to allow purchase without leaving the landing page:
The centralisation of everything in Kajabi will make everything for creators just starting out on the learning curve of the platform.
Should I use Kajabi Payments?
We’ve laid out the different features that you will get by using the new Kajabi Payments payment processors.
Whether this makes sense for you depends on what you value.
If you want everything to be centralized and don’t need the extra Stripe bells and whistles, then Kajabi Payments would be a great option.
Or if you really want to allow Google and Apple Pay because your customers are used to paying with them.
Lastly, if you really need to add sales tax to your course price, it’s likely that this will be the only way to do it in Kajabi. Ditto for popup checkouts.
Kajabi Payments FAQ
If you’ve skimmed through this article or still have questions, let’s recap this here:
Q. How much is Kajabi Payments fee?
Processing fee for this new feature will be the same as Stripe: 2.9% + 30¢ per transaction
You will still have to go through some sort of verification process.
Again here the upside is the new feature you’ll get with Kajabi Payments
Q. How do the payouts to my bank account work?
Similarly to Stripe, which is that you should get payments within a few days.
You’ll connect your bank account to Kajabi Payments and track these easily on the platform.
Kajabi Payments is NOT a virtual wallet that ever holds the money for you and that you can use to pay other things (like Paypal).
Q. What Do I Need to Use Kajabi Payments?
First, you need an active Kajabi account.
Then, just like any payment processor, you’ll have to add details about your business and activity.
This will include, depending on your country, your unique business registration number (EIN in the USA).
And then basic information such as your business name, revenue, type of services,etc.
It shouldn’t take more than 1-2 days before you can start taking payments!
What are the pros and cons of using Kajabi Payments?
Read through the article again for more details but here is a summary:
We think the pros outweigh the cons for most Kajabi users, especially those who are just getting started with the platform!