What is a Stripe statement descriptor and how do I set it?

Your statement descriptor is the short name that shows on your buyers' bank or card statements when they pay for tickets. With TixFox, each payment is made in your own Stripe account, so buyers see your Stripe statement descriptor, not "TixFox". If you never set one, Stripe makes one for you from your business name, your website or your legal name. Set it to a name your buyers will recognize, because a charge people don't recognize is one of the most common reasons for a dispute.

What a statement descriptor is

It's the text next to the amount on a statement, like the name of a shop on a receipt. Stripe sends it to the buyer's bank with every payment. It can be up to 22 characters long.

Stripe has two settings for it:

Statement descriptor: the full name, 5 to 22 characters.
Shortened descriptor: a short version, 2 to 10 characters. Stripe uses it for card payments when a short detail is added after your name.

What happens if you don't set one

You'll still have a descriptor. When you create your Stripe account and don't type one in, Stripe makes it from your account details, in this order:

Your business name.
Your business website, if there's no business name.
Your legal name, meaning your own first and last name or your company's registered name.

If you leave the shortened descriptor blank, Stripe uses the first 10 characters of your statement descriptor.

That's where the trouble starts. Your buyers know your event and your brand. If you signed up as an individual, their statement could show your personal name. If you run events under a company, it could show a registered company name they've never seen. A shortened descriptor cut at 10 characters can be even harder to read.

Why a name buyers recognize helps you avoid disputes

A dispute, also called a chargeback, is when a buyer asks their bank to reverse a payment instead of asking you for a refund. One of Stripe's dispute types is Unrecognized: the buyer doesn't recognize the payment on their statement. Stripe says these are handled much like fraud claims, and its first tip to prevent them is a statement descriptor buyers can easily recognize.

Disputes cost more than a refund:

The money is taken back straight away. Stripe takes the disputed amount from your Stripe balance and holds it until the bank decides.
There's a fee. In the US, Stripe charges $15 when you receive a dispute, and you don't get it back, even if you win. Challenging a dispute costs another $15, which is returned if you win.
It takes time. Stripe says a dispute can take 2 to 3 months from start to finish.
Ticket disputes can come late. For tickets to a future event, Stripe says the time a buyer has to dispute usually starts on the event date, not the day they paid.

A buyer who sees a name they know is far more likely to remember the purchase, or to contact you if they have a question.

How to set your statement descriptor

Sign in to your Stripe Dashboard with the Stripe account you connected to TixFox.
Open Settings.
Under Business settings, click Public details.
Enter your Statement descriptor and your Shortened descriptor.
Save your changes.

Stripe's rules for the statement descriptor:

5 to 22 characters, with at least one letter.
Latin characters only, so no emoji.
None of these characters: < > \ ' " *
It has to reflect your business name, your website or your legal name. A single common word on its own isn't allowed.

Tips for a descriptor buyers will recognize

Use the name on your event page. Buyers remember the brand they bought from, so match the name they see on your event page and social media.
Your website works too. Stripe suggests your website domain or your business name. A domain is a good choice if it's short and well known to your buyers.
Make the first 10 characters count. Pick a shortened descriptor that's still clearly you, rather than letting Stripe cut your name off.
Tell buyers what to look for. Add a line to your order confirmation email such as "This purchase will appear on your statement as" followed by your descriptor. You can edit that email in your event's Communication tab. See Automated reminder emails and how to customize the confirmation email.
Make it easy to reach you. Stripe also recommends easy to find contact details and clear refund policies. A buyer who can reach you is less likely to go to their bank.

Common questions

Will my buyers see "TixFox" on their statement?

No. Payments are made in your own Stripe account, so they see your Stripe statement descriptor.

Can I use my event name as the descriptor?

Only if it reflects your business name or website, because that's Stripe's rule. If you run one event brand, that name usually works. If you run many events, use the brand or organizer name they all share.

Is a refund better than a dispute?

Yes, for both of you. A buyer can't dispute a payment that's already been fully refunded, and a refund has no dispute fee. See How to refund a ticket order.

Where do I see disputes?

In your Stripe Dashboard. Stripe also emails you when a buyer opens a dispute, and walks you through sending your evidence.

Does changing the descriptor change my Stripe account name?

No. The account name you see in your Stripe Dashboard is a separate setting. Only the statement descriptor changes what buyers see on their statements.