2023 Stripe Review: Best Online Payment Processor
This article is part of a larger series onPayments.
Stripe is a highly secure online payment processing service best known for sophisticated online payment processing, advanced fraud prevention, and dispute management tools—without a high price tag. Best for online, ecommerce, and B2B payments, Stripe took the top spot in ourlist of online payment processorsearning a 4.39 out of 5.
Stripe at a Glance
Looking for the lowest rates?The payment processing rates you will pay can vary based on your business’ size, type, and average order value. To find the most affordable option and compare multiple processing rates, read our guide on thecheapest credit card processing.
Stripe is a top consideration for businesses looking formerchant accountsand it is included in many of our buyer’s guides. In our list of the best merchant services, it came out as the best for online payments because it ticks most of the boxes for features we look for in small business payment providers, particularly for ecommerce and B2Bs.
Its highly customizable nature easily keeps up with fast-growing businesses that process recurring online payments and provides the most flexible and scalable solution for designing checkout carts. It also includes the assurance of strictPCI (Payment Card Industry) compliance—all in a free account.
On the other hand, Stripe may not be the best fit for all types of ecommerce businesses, as some small online businesses do not require a highly customized checkout process. So, while subscribing to Stripe is free, the complexity of its “developer-first” platform setup process affected Stripe’s ranking in our evaluation. For in-person checkouts, most small businesses would be better served with a plug-and-play option that does not require a custom build.
Stripe Fee Calculator
条纹提供一个免费的账户,所以商人不need to worry about upfront cost unless they opt for add-on tools and upgraded features. Transaction fees are competitive, and discounts are available upon request. Card readers can be directly purchased from the Stripe dashboard, and chargeback fees are refundable.
The system lost points for chargeback fees, add-on payment processing cost, volume discounts, and hardware purchasing options.
Stripe supports many integrated payment methods, including card transactions, digital wallets, bank transfers, and international payments. Fees start at 2.7% + 5 cents per successful transaction—and there are no monthly or additional gateway fees for simple online transactions.
- Monthly fee:$0
- Transaction processing fees:
- Ecommerce:2.9% + 30 cents
- Card-present:2.7% + 5 cents
- Keyed-in:3.4% + 30 cents
- Touchless:2.9% + 30 cents
- Tap-to-pay on mobile: +10 cents per authorization
- Virtual terminal:2.9% + 30 cents
- ACH:0.8%, $5 cap
- Invoicing:+ 0.4%–0.5%
- Recurring Billing:+ 0.5%–0.8%
- International payments:+ 1.5% fee, 1% spread for currency conversion
- Stripe Checkout:$10 per month if using custom domain
- Chargeback fee:$15
- Failed transaction fees:$4–$15
- Deposit speed:2 business days, or 1%, minimum 50 cents for instant payout
In the News:
Beginning in June 2023, Stripe will no longer refund the chargeback fee regardless of the outcome for disputed payments.
Though limited, in-person payments are also available through Stripe Terminal. However, Stripe Terminal does not include a point-of-sale (POS) application, so to use Stripe Terminal, you will need to purchase a hardware or card reader and integrate it with a custom POS or one of Stripe’s partner POS solutions.
Note that you need to create an account first with Stripe to order the hardware from your Stripe Dashboard. Stripe offers helpful guides from its dashboard to help you find the right integration type for your needs.
Stripe Reader M2
Cost: $59
Stripe SDK for iOS and Android
Stripe Reader M2 is Stripe's proprietary Bluetooth-enabled card reader that accepts EMV chip, contactless, and swipe payments.
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Cost: $249
Stripe SDK for iOS, Android, Desktop, and Mobile Web
The BBPOS WisePOS E is a hybrid countertop and handheld terminal for in-store and curbside payment processing. It features a 5” touch-screen display, end-to-end and point-to-point encryption, EMV chip, contactless, and swipe payments processing, and Wi-Fi connectivity. |
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Setting up a Stripe account is not complicated and can be completed in minutes. You will be prompted to activate the payment features by providing information, such as:
- Business or trade name
- Physical address, email, and phone number
- Tax identification number
- Business website URL
- Nature of your business or activities
- Business owner/owners information
- Designated Stripe Account administrator
If you would like to test and have a look around Stripe, you can skip providing the information, and you will still be able to create an account and access the Stripe Dashboard. You can provide the needed information when you are ready to activate Payments.
Underwriting will be required to give you access to Stripe’s payment processing services, so expect to be asked for additional information as follows:
- Copies of financial statements, reporting, and other documentation that will help Stripe conduct risk assessment
- Other records to support your ability to comply with the merchant agreement
- Personal or company guarantee
Access to your Stripe account is temporary until underwriting is approved.
Although Stripe’s full potential is maximized with some coding and developer tools, it is easy to start receiving payments even if you confine your activity within the Stripe Dashboard. The Dashboard takes a bit of getting used to, but it is easy to navigate and explore. Stripe made it easy for new users to try out the Dashboard’s different areas by providing adequate previews and options to go back and redo steps if needed.
Stripe has a variety of products that carry their own service agreements. There is a general terms of service that details account setup, approval, maintenance, and fees, among others.
- Stripe reserves the right to revise its fees at any time with at least 30 days’ advance notice before revisions become applicable.
- High dispute rates are described as exceeding 1% of your total sales and can result in the suspension of your access to Stripe’s payment processing services.
- Stripe may suspend your Stripe account as well as your access to funds in your Stripe account after determining, based on its sole discretion, that you are in breach of any provision within the service agreement.
- Stripe also reserves the right to set up and determine terms of a reserve fund in the event that your account is deemed to carry a higher-than-normal risk of doing business.
- Consult Stripe’s list ofRestricted Businessesbefore registering for and opening a Stripe Account.
Stripe offers a wide range of online payment methods, including ACH Debit and Credit functions and B2B payment processing. The Stripe Dashboard allows you to create payment links, send invoices, create recurring billing, and manually create and input payment details. However, while a mobile POS is available, you will need custom integration which can take some time to set up.
Did you know?
Stripe now has an embeddable and customizable fiat-to-crypto onramp widget for US users. This allows merchants to directly embed a widget into their platform or app that will enable their users to buy cryptocurrency with their credit, debit, or bank account.
Stripe made our list of thebest merchant servicesspecifically for online sales and integrations. It accepts over 135 currencies and dozens of different payment methods, making it perfect for internet sales.
It is also built to accept cross-border payments. You can design your website to process multiple payment methods using local payment services from different countries. Your customers will be billed and can pay in their local currency while you receive the payments already converted to your own.
Stripe is available in 47 countries, and it took the top slot for ourbest international merchant account为小型企业。它的费用是优秀的同情red to other international processors and are country-specific. By accepting over 135 currencies, your customers can pay in their own currency and credit cards, while you get paid in your own currency. It also lets you display prices in the native currency, so there’s no confusion. Even more, it will detect your customer’s version and translate the checkout page into their native language.
Learn more aboutaccepting payments online.
This is Stripe’s hosted checkout page, where you can create customizations and decide on the level of customization you would like to provide your customers. It is optimized for accepting one-time or subscription purchases and can accommodate both local and international payments—all while ensuring key considerations such as page load time, animations, device screen compatibility, and language.
Stripe Checkout offers a simple step-by-step process for creating your own checkout page:
Stripe’s hosted checkout pages help reduce cart abandonment by providing features, such as address auto-complete, one-click payment using Link with Stripe, real-time card validation, descriptive error messages, third-party autofill, and card brand identification. Although you can have your checkout page hosted by Stripe, you also have the option of hosting it on your own domain.
While Stripe is popular for developers, it also provides payment processing solutions that don’t require any coding skills. Stripe lets you create payment links to sell products or services, start a subscription, or collect a donation—which you can post on social media or send to customers via messaging or email.
When someone clicks on your payment link, they will be directed to your Stripe-hosted page that you customized. And once you’ve sent out the links, your Stripe Dashboard will help you track outstanding invoices and notify you of a successful payment.
Stripe’s invoicing tool allows you to build custom invoices for any type of pricing model with options for either a Stripe-hosted invoice (no-code required) or API to add more advanced customizations—such as adding automatic email reminders and aging reports generation. You can collect one-time or recurring payments, add line items, specify discounts, and customize tax rates directly to your invoices.
Stripe Invoicing Plans:
- Starter Plan:Costs 0.4% per paid invoice, has 25 free invoices per month, and includes hosted invoice page and insight and analytic tools
- Plus Plan:Costs 0.5% per paid invoice and adds estimate building, automatic collection, and auto reconciliation tools on top of the Starter Plan
Stripe’s billing feature is especially useful for subscriptions. It lets you design different pricing structures, such as one-time, recurring, usage-based, and tiered pricing. You can also set up billing adjustments if you offer promotions and trial periods and customize the billing frequency.
Stripe offers its billing tools in two plans:
- Starter Plan:Charges 0.5% for paid recurring charges and includes automatic collection and customer portal tools
- Scale Plan:Costs 0.8% on recurring charges and adds estimates building tools and NetSuite integration (through Stripe Connector) on top of the Starter plan
条纹仪表板提供了一个手动工具creating payments. Under the Payments section, there is an option to manually charge a customer, which directs to a virtual terminal where card details may be entered. The payment page also gives the option to use a customer’s stored payment details or to email an invoice using Stripe Billing. This option to manually enter a customer’s card details allows merchants to receive payments by phone.
Payments created by typing the card details into the Stripe Dashboard incur a slightly higher transaction fee of 3.4% + 30 cents.
While Stripe integrates with popular POS systems like Lightspeed and WooCommerce, Stripe Terminal enables merchants to build their own in-person payment system. This requires using Stripe’s software development kits (SDKs) and application programming interfaces (APIs) to integrate Stripe into your own applications and build your point-of-sale (POS) system.
Stripe Terminal is currently available in the US, Canada, the UK, Ireland, France, Germany, and the Netherlands and is in beta in Australia, New Zealand, and Singapore.
There are no extra fees for using Stripe Terminal, except for a different in-person fee of 2.7% + 5 cents per transaction. You will also need to purchase a mobile card reader that starts at $59.
Tap to Pay on Mobile
Stripe allows merchants to receive in-person payments without purchasing any extra hardware. Its Tap to Pay on mobile only requires the Stripe Terminal SDK and compatible iPhones and Android devices for contactless payments. Accepted payment methods are American Express, Mastercard, Visa contactless cards, and NFC-based mobile wallets (Apple Pay, Google Pay, and Samsung Pay).
In the news:
条纹在2月2日推出iPhone拍拍支付022 for merchants in the US and Tap to Pay on Android in February 2023. Tap to Pay on Android is still currently available in beta in six countries (US, Canada, the UK, New Zealand, Australia, and Singapore).
Point-of-Sale (POS)
If you have access to a software developer, Stripe provides you with the tools to create your own POS software. Stripe’s APIs and SDKs will show you how to design your user interface and checkout routines, and even choose to build a system that’s compatible with Android, iOS, and JavaScript or let it run in Stripe’s server-driven integration.
Stripe is among ourbest payment gateways, specifically for its integration capability. It works with hundreds of applications (we lost count at 660!). In addition, Stripe offers custom APIs and SDKs so that you can integrate it easily into your own custom websites and applications. If you have a need but not the skill, Stripe has a list of verified developers, agencies, and consultants to help.
Stripe stands out from its competitors for making advanced fraud management and data security available to small merchants. It also offers a variety of business management tools.
A few points were docked from Stripe’s score for the add-on fees it charges for certain features like invoicing and recurring billing tools. It also has a fee for same-day fund transfer processing.
Stripe Security & Fraud Protection
Stripe Reporting & Analytics
Management
Integrations
Adding Stripe as a payment processor is easy if you already have your online store. It offers a wide range of plug-and-play integrations for all of its third-party platform partners, so it will only take minutes to set up Stripe as your checkout option. Meanwhile, Stripe is also known for its developer integrations. Experienced coders can utilize comprehensive testing tools, over 450 platforms and extensions, and a dedicated developer dashboard.
Deposit Speed
Stripe deposits your funds into your account in two business days. Meanwhile, Instant Payouts is Stripe’s solution for providing you instant access to your funds by sending them to a supported debit card or bank account (available for a fee).
Business Growth
It comes as no surprise that Stripe gets excellent marks for pricing, popularity, and integrations. At zero monthly fees, Stripe provides advanced payment processing and security features you would often find for larger businesses. It also earns above-average user reviews in spite of the generally complex setup. Stripe has over 660 integrations that go beyond ecommerce tools such as accounting software, CRM platforms, and POS systems, making the system a highly scalable solution that we look for and recommend to small businesses.
On the other hand, ease of use is Stripe’s biggest challenge. While it offers code-free payment processing tools, it requires several customizations to get set up. Although its many tools and features can be an advantage, it can be overwhelming for small and new merchants who are simply looking for a way to start accepting payments.
Stripe User Reviews
Stripe continues to receive generally positive feedback. Users like Stripe for its seamless integration with popular online platforms. In particular, users found Stripe’s customization and subscription features extremely useful for creating invoices and recurring payments.
- Capterra:Over 2,800 users rated Stripe an average of4.7 out of 5 stars.
- G2:More than 200 users rated Stripe an average of4.3 out of 5 stars.
Common negative Stripe reviews include lengthy payment holding time and refunds being provided to customers without prior notice. Users also cite a learning curve in using most of Stripe’s features, so if your business lacks access to a certain degree of software development skills, Stripe may not be the right fit.
Users Like | Users Don’t Like |
---|---|
Dashboard and reporting features | Refunds to customers without notice |
Handy developer tools | Poor customer service |
Compatibility with most ecommerce platforms and marketplaces | Extended holding time of payments before being credited to the bank |
Methodology—How We Evaluated Stripe
We test each merchant account service provider ourselves to ensure an extensive review of the products. We then compare pricing methods and identify providers that offer zero monthly fees, pay-as-you-go terms, and low transaction rates. Finally, we evaluate each according to a range of payment processing features, scalability, and ease of use.
The result is our list of the best overall merchant services. However, we adjust the criteria when looking at specific use cases, such as for different business types and merchant categories. This is why every merchant services provider has multiple scores across our site depending on the use case you are looking for.
Click through the tabs below for our overall merchant services evaluation criteria:
20% of Overall Score
We graded based on monthly fees, online rates, chargebacks, and whether or not you could get volume discounts. Helcim had the highest score at 4.5 out of 5, partly because as sales volume increases, rates decrease; for the others, you have to ask to be considered for discounts.
30% of Overall Score
Online payments are more than website checkouts. We looked for invoices, recurring billing, and virtual terminals. We also gave points for stored payments and Level 2 and 3 processing for B2B sales. Stripe had a clear lead with 4.63, followed by Helcim at 4.5.
25% of Overall Score
This score took into account sales tools like customer management features, BNPL, fraud prevention, and developer tools for customizations. We also considered deposit speed, giving the most points for same-day processing, and customer service. Stripe again took the lead with 4.63 out of 5.
25% of Overall Score
Stripe Payments Frequently Asked Questions (FAQs)
Stripe leads PayPal and Square in features foraccepting credit cards onlinewhile Square is the better option if you need a reliable and affordable point of sale. If you are looking for customer-friendly checkout options, choose PayPal.
Learn more in ourStripe vs Square vs PayPal comparison.
Stripe card transactions are processed the next business day but instant payouts are available with access to an eligible debit card. Instant payouts cost an additional 1% and have a minimum fee of 50 cents.
ACHpayments are normally processed within three to five business days but Stripe also offers options for two-day settlement at 1.2% fee and $1.50 for instant bank account validation.
Stripe is one of the safest online payment processors in the industry. It supports machine-learning risk management tools and a range of identity verification options to prevent fraudulent transactions and minimize chargebacks.
Learn more about Stripeand its other tools in our guide.
条纹是多才多艺的,易于使用和感伤d for beginners who only need Stripe’s code-free payment processing tools. For those who need more than these code-free options, Stripe requires a bit of coding and developer help which can be overwhelming for some beginners.
Both PayPal and Stripe are good options for payment processors. Stripe is best for tech-savvy startups and growing ecommerce businesses and merchants that need B2B or international payments processing. On the other hand, PayPal is best for small or casual retailers or merchants who only have occasional sales. Read our in-depth comparison ofStripe vs PayPal.
Bottom Line
Stripe is a well-known brand in ecommerce payment processing—and rightfully so. It provides a free merchant account with exceptional data security and global payment capabilities that sets the standards for other payment processors in the market. And while the system is developer-friendly, Stripe also offers an array of simple customization tools that do not require coding skills.