Information for Financial Departments of Research Institutes
This section provides information for the financial departments of research institutes on who we are and the service that we offer to scientists worldwide. We hope you will find this information helpful when you are approached by one of your scientists for assistance in registering with Capeia.
In short, we are a crowdfunding website for scientists and we transfer funds directly to, and solely to, verified bank accounts of research institutes. For scientists to receive money from us through crowdfunding they first have to contact the financial department of their research institute and request the bank details for an appropriate research account. In practice this means that the financial department needs to be informed of a scientist’s intention to register with Capeia and to consent to that registration to the extent of providing the scientist with the bank details of an appropriate official research account. The financial department will also be asked to provide an ID for each scientist with which payments can be tagged, thereby enabling the correct intramural allocation of payments to a particular scientist.
Further details are provided below of the procedure for receiving funding through Capeia and Stripe, our payment service provider:
- Any scientist holding a PhD or MD with an academic affiliation is welcome to register with Capeia.
- Every registered scientist is provided with his or her own crowdfunding site through which funding can be received from the general public.
- Capeia accepts online donations using either of the main credit cards, including VISA, MasterCard, or American Express. Payment transfers are encrypted with the latest Transport Layer Security protocol (TLS).
- All funds are transferred into an official account of the scientist’s research institute. The scientist therefore has to first ask the financial department for the bank details of an appropriate research account through which to receive funds from us.
- We tag all funds with an ID to ensure correct intramural allocation of payments to the respective scientists. The ID must be provided by the financial department and should allow incoming payments to be correctly identified by the institute’s accounting system.
- We provide scientists with the appropriate user interface to receive funds from donors. The actual handling of the funds is implemented by Stripe, our payment service provider of choice.
- Stripe is a US-based payment service provider that specializes in accepting payments over the Internet.
- Using the institute’s bank details we generate a Stripe account on behalf of the research institute.
- A Stripe account is not an official merchant account but is used to accept payments and transfer them to the payee, i.e. the research institute. For more information on Stripe accounts please see here.
- In contrast to other crowdfunding platforms, we direct all funds immediately into the payee’s account. There is no minimum sum that needs to be reached within a given time period. We serve on a “continuous funding for continuous research” basis.
- We make it explicit in our terms that once funds have been donated they cannot be returned to the donor. This is a major difference from other crowdfunding platforms. We should mention, however, that donors may be entitled to chargebacks, in particular in the event of fraudulent behavior by the payee or if, for example, a stolen credit card was used for donation.
- We charge a 6.5% commission for each donation and Stripe charges approximately 1.5%, depending on the credit card used for the transaction. These fees are deducted directly from each donation. There is no need for the financial department to perform any kind of accounting, either for Capeia or for Stripe. All funds paid into the research account are therefore at the disposal of the payee.