Founded in 2010, it is the application of web that allows merchants to accept credit card payments with their supportive websites. There are abundant online payment processing companies in the market. In which one of the companies naming Stripe has been popping up and gathering the extensive attention of businesses that need more control of their online payment structure.
It is the best platform to accept payments online. Since the third-party payment processor, aiming to create a simple perception: allowing companies to carry out their online business feasible.
It is an immense program for web developers and user convenient platform make almost feasible to customize and integrate into a website.
The online dashboard for you to analysis and generates downloadable reports. Hence, by using this board you can access absolute information pertaining to your sales.
The coding intricacy and API’s (Application Programming Interface) creates a barrier for web developers.
There is a lot of things to love about Stripe; that’s for sure. It’s powerful, feasible to use and great features, but it is restricted to some people.
Most of its features are best fitted to larger enterprises. It has dominant tool for all marketplaces and developers, as well as large eCommerce enterprises and global businesses.
I feel that stripe has to update itself; the numbers of complaints are increasing day by day and hopefully, it is taking prominent measure to overcome the dilemma. It’s not transcending the competition but is on par with the others.
If it could make a change in its quality of customer services and holding crises during work, then it would be stunning for the users.
Stripe regularly conducts transfers and deposits of bank accounts for businesses without any extra situations on behalf of the clients.
Products and Services
Stripe serves immediately action to access for processing, much like Square or PayPal does. Its processing services are available in 25 countries, but it provides facilities to accept more than 100 types of currency.
This is most essential part of it that users are really interested. These APIs (application programming interfaces) offers a strong framework for developers to quickly and easily integrate the Stripe payment using different languages (curl, Ruby, Python, PHP, Java, Node, etc).
Mobile commerce integration
Documentation for Android or iOS to power in-app payments is provided by the web applications. There are other features that provide users to store their data for faster.
Stripe is regularly provided offers, which indicates that it definitely investing in helping this niche thrive. There are an enormous set of tools to prompt you to describe your payment to your merchants, and you can also offer them frequent deposits.
Platform building tools
Marketplace solution is tailored to this platform. Generally, you can build any platform where you need your users to get paid.
It consists of countless options for plan types. You can even subscribe single users to multiple plan types. Updating subscribers to a higher level are feasible. This is one of the features that suit merchants and it will not charge for the merchant, compared to $10/month for PayPal.
This Connect is mainly designed particularly for marketplaces. It accepts more than 100 currencies and automatically put it in conversion mode.
You can also use Connect to cross verify the global sellers, include descriptor text that shown on credit card statements and automates payment for marketplace sellers or built a custom payment schedule.
Atlas offers global businesses to consolidate in the U.S., begin a U.S bank account, and get tax and fair guidance. It declares, since from the launch, it has had more than 400 startups apply in more than 90 countries, and it has included more than 100 partners in the network.
The link provided below explains how Stripe Atlas guide to starting an internet business.
It is the latest tools to prompt you to fight against fraud. Radar is adopting machine learning techniques to better identify the fraud and stop it.
It also gives merchant tools in their dashboard to allow them to set specific rules for transactions, test what impact those rules will have based on previous data, and reduce the amount of manual work your team has to do.
This will allow you to buy products from other mobile apps. Stripe Relay allows you to do things smoothly if you want to sell your products on trendy shopping and social media platforms.
You can enable users of those applications to buy your products without even visiting your website and you can expand your business.
In-app buy buttons set this with a frequent purchase experience for customers. Therefore, with Stripe Relay, you can let customers purchase products from other sellers directly within the app.
Relay is consolidated with famous e-commerce platforms like Demandware and SAP Hybris making it easy for sellers.
More About Strip’s Features
If you want to take benefit of Stripe’s payment processing without the support of the developer tools, consider adopting a Stripe’s third-party plugin for WordPress, Magento or Drupal.
Similarly, even you can get benefited from a verity of services that allow for simple Stripe integration for e-commerce, invoicing, form building, analytics and so on.
Another worth point to consider is security. Stripe is a PCI Level 1-compliant service, which is the highest ranking level of certification.
Additionally, if you feel to quit Stripe, then they will assist you to export all of your card data to a new PCI compliant provider.
Stripe Fees and Rates
Stripes provide a pretty fair picture of the pricing structure. For each credit card transaction, they charge only a single flat rate:
They also support ACH (direct deposit) and Bitcoin transactions. They will charge 0.8% for each transaction, up to a maximum of $5.
Obviously, if you are processing over $80,000 per month or exceeding more than 10,000 transactions per year, then you are eligible for a lower rate on card transactions.
The cost of the Stripe is fair and exactly aggressive in the industry, given the absolute lack of supplementary charges and the deluge of features are available.
Additionally, 2.9%+$0.30 is literally what Square, PayPal, and Braintree charge for online transactions.
If you want a mPOS that process through Stripe. I suggest you to look at Shopify. You can get the Lite plan with invoicing, buy button and a mPOS that charges 2.7% per swipe.
Stripe collect charges from the industry-standard chargeback charge of $15.
They are always flexible to help global payment methods, which you can enable from your Dashboard.
- ACH Debits
Add Bitcoin to your website and they start accepting the payment
One of the most famous payment methods used to accept payments using Alipay.
You can get detail in below link:
- WeChat Pay
WeChat Pay can be easily implemented with sources, Stripe’s API for accepting any payment method.
Open Source Plugin
Finally, by comparing to the similar online payment services, like PayPal, there are negligible differences. Stripe can process payment transactions for the U.S and Canada; PayPal’s services are provided globally.