Monthly Payment Gateway

In certain situations, you have the option to utilize Teachable’s Monthly Payment Gateway. This article goes over what the specifics of the Monthly Payment Gateway are and how to set it up.

Eligibility

Teachable Payments

If you’re using Teachable Payments to collect credit/debit card payments, you won’t have access to Teachable’s Monthly Payment Gateway for card purchases.

If you’d like to enable PayPal as a payment option, you’ll have to enable BackOffice. Once enabled, you’ll be able to toggle on/off Teachable’s PayPal Monthly Payment gateway, or create your own PayPal custom payment gateway (Pro plan and up). 

Non-US or Canada Schools

If you are ineligible for Teachable Payments, then Teachable’s Stripe Monthly Payment Gateway will be available on your school for credit/debit card purchases.

If you’d like to enable PayPal as a payment option, you’ll have to enable BackOffice. Once enabled, you’ll be able to toggle on/off Teachable’s PayPal Monthly Payment gateway, or create your own PayPal custom payment gateway (Pro plan and up). 

Schools Created Before 10/9/18

If you’ve created a school before the release of Teachable Payments (10/9/18), you’ve most likely already set up either the Monthly Payment Gateway or custom payment gateways.

You can elect to switch to Teachable Payments for credit/debit card purchases at any time, but please note that once you switch, you will not be able to switch back to the Monthly Payment Gateway for credit/debit card purchases.

Set up the Monthly Payment Gateway

If you're setting up a payment gateway on your school for the first time, go to Settings > Payments. Once there, you’ll be asked to complete an onboarding process; during which you’ll be asked for:

  • PayPal Email Address - This is where Teachable will send your earnings.
  • Tax Filing Status - This helps us better know what kind of tax forms you’ll need in the future.
  • Enable/Disable BackOffice - BackOffice is a service Teachable provides to make handling taxes, author/affiliate payouts, etc. easier for school owners.
  • Course Information - This helps us better understand what kind of courses our users are creating on Teachable.

Afterward, the Monthly Payment Gateway will be all set up for you to start selling your course! If you are on the Professional plan or higher, you can also elect to set up your own custom payment gateways.

Payouts

Due to Teachable’s 30-day refund policy for courses, Teachable pays school owners in USD (along with their author and affiliates) on the first of every month (or the next business day if the 1st is on a weekend or US holiday) by 10pm UTC (5pm US EST). Monthly payouts are paid out to the primary owner’s PayPal account.

For example, if you make a sale in January, you would receive those funds from Teachable on March 1st. Then, on April 1st, you'll be paid for sales made in February, and so on. 

Authors and Affiliates

If you've added authors or affiliates to your school, then you are responsible for tracking and distributing author and affiliate earnings. However, if you've enabled BackOffice, Teachable will distribute author and affiliate owners on the same payout schedule as owners on the Monthly Payment Gateway.

Transaction Fees

If your student pays using a credit or debit card, then their payment will be processed by Stripe. Depending on whether or not you’ve opted-in to BackOffice, or enabled PayPal as a payment option, each transaction processed by the Monthly Payment Gateway is subject to the following transaction fees:

 

Free

Basic

Professional

Business

Processing Fees

Payout Fees

MPG Without BackOffice

10% + $1

5%

0%

*2%

0%

2.9% + 30¢
(US PayPal/card fee)

3.9% + 30¢
(International card fee)

4.4% + 30¢
(International PayPal fee)

$0

MPG With BackOffice

10% + $1 + 2%

7%

2%

2%

2.9% + 30¢
(US PayPal/card fee)

3.9% + 30¢
(International card fee)

4.4% + 30¢
(International PayPal fee)

$0

 * Transactions processed by the Monthly Payment Gateway for schools that were created before 10/9/18 will be subject to a 2% transaction fee. 

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