March 21, 2023 12:06 pm CDT
MoneysMyLife
SUBSCRIBE
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure
No Result
View All Result
MoneysMyLife
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure
SUBSCRIBE
No Result
View All Result
MoneysMyLife
No Result
View All Result
RebatesMe $30 Bonus RebatesMe $30 Bonus RebatesMe $30 Bonus
ADVERTISEMENT
Home Banking

Stripe Payments Review: Online Credit Card Processing With Free API

Diana Mason by Diana Mason
February 3, 2022 4:02 pm CST
in Banking
A A
0
Stripe

Stripe

50
SHARES
840
VIEWS
TwitterFacebook

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Chase Total Checking $200 Bonus Chase Total Checking $200 Bonus Chase Total Checking $200 Bonus
ADVERTISEMENT

Stripe is an online, third-party credit card processor with a keen focus on empowering online businesses by offering powerful tools for developers. The company processes payments for many big-name merchants like Lyft, Blue Apron, Pinterest, TaskRabbit and more.

STRIPE QUICK FACTS
Merchant SolutionsPayment processing
Developer tools
Add-on products & services
HardwareCard readers
Type of Processing FeeInterchange-plus
Credit Cards AcceptedVisa
Mastercard
American Express
Discover
JCB
Diners Club
China UnionPay

& dozens of popular payment methods around the world
Payout Availability2 business days
7 business days for high-risk merchants
ContractMonth-to-month
Early Termination FeeNo ETF

Stripe Features

Although it might seem basic at first glance, Stripe offers pretty useful tools you probably didn’t even know about. Most products and services can be broken down into two main categories: payment processing and developer tools.

Payment Processing

Like Square and PayPal, Stripe gives you instant access to payment processing. It’s a third-party processor, AKA aggregator, which means Stripe will approve you quickly.

However, the company will follow your account very closely. If any red flags come up, Stripe could but your account on hold or even terminate it. Traditional merchant accounts, on the other hand, determine your level of risk in advance and offer more account stability.

CURRENCIESWALLETSSUBSIDIARY SUPPORT

Stripe can process over 135 currencies. You can display prices and process charges in a customer’s preferred currency. This helps to improve sales while allowing the customer to avoid conversion costs.

Let your online customer check out faster with wallet payment methods that digitally store credit and debit card information. It offers a quick and convenient way to pay, eliminating the need for customers to manually enter their card and billing details every time they want to make a purchase.

You can set up local Stripe accounts to maximize acceptance rates and lower costs while your customers save on foreign exchange and cross-border fees.

Developer Tools

This is the meaty part of Stripe. The application programming interfaces (APIs) that the processor provides make up a powerful and well-rounded framework for developers to efficiently and effectively integrate the Stripe payment platform using a number of languages. It’s a great way to build a solid foundation on which you can build on and expand your business.

You can also take advantage of Stripe’s payment processing without having to use APIs by utilizing its plugin or one of its 300 integration partners. Integrate with shopping carts (3Dcart, BigCommerce, Shopify, Wix, Weebly and more), CRM software, invoicing platforms, business analytics, accounting, shipping tools, referral marketing and more.

Add-On Products & Services

STRIPE BILLINGSTRIPE CONNECTSTRIPE SIGMASTRIPE ISSUINGSTRIPE TERMINALSTRIPE ATLASSTRIPE RADAR

Whether you want to send one-off invoices or manage monthly subscriptions, Stripe Billing has all the management tools you’ll need. It allows you to bill your customers as frequently as you want and to create plans based on usage, number of users, flat fees or a number of other models that align with your business.

Stripe Billing also includes marketing tools like promotions and free trial periods.

This tool suite is designed for marketplaces and platforms – like Kickstarter or Uber – to accept money and pay out to third parties. It works in over 25 countries around the world and automatically converts transactions for you.

Connect can also verify international sellers, add descriptor text onto credit card statements, automate payments for sellers and create a custom payment schedule.

Way better than what you would get with Square, Stripe Sigma lets you create truly custom reports using SQL. So you can quickly analyze your Stripe data and get faster business insights.

Instead of paying an expensive monthly subscription fee for these tools, Stripe uses sliding scale pricing for Sigma. Based on the number of charges per month.

Currently by invite only, this end-to-end platform was designed to quickly create, distribute and manage physical and virtual cards. Stripe has eliminated extensive development time, complex requirements, long-term contracts and significant upfront fees that come with traditional card issuance. So you can create cards faster and scale more efficiently.

Also currently by invite only, this programmable point of sale (POS) enables in-person payments for any business model with pre-certified card readers, JavaScript and mobile SDKs, and cloud-based hardware management.

This feature allows international business to incorporate in the United States, set up bank accounts there, and get tax and legal advice. All for a flat fee of $500.

Since its launch, Stripe reports that it has had more than 1,000 startups apply in over 120 countries.

A solution to eCommerce fraud, Radar 2.0 uses machine learning to identify and stop credit card fraud. It takes into account a giant stream of data to determine the likelihood of a fraudulent transaction, including previous Stripe transactions on the card.

Radar will also take a look at your business’s payment processing and compare it against a bunch of data models to determine which will work best for your business. This reduces fraud and prevents false alarms.

For enterprise-scale businesses, you might be interested in Radar for Teams. It gives merchants tools in their dashboard to:

  • Set specific rules for transactions
  • Test what impact those rules have based on previous data
  • Reduce the amount of manual work your team has to do

This fraud prevention is layered on top of other tools, like AVS and CVV checks.


Stripe Pricing

Stripe is a pay-as-you-go processor with a very clear pricing structure.

PROCESSING TYPEFEE
Credit & Debit Cards2.9% + $0.30
International Cards+ 1%
ACH0.8% (capped at $5)

Non-profit organizations benefit from discounted rates, but the actual numbers are not disclosed You also have the option to design a custom package if you’re a merchant with a large transaction volume or a unique business model.

It’s important to note that Stripe will not return its processing fees, not even for returns and refunds. Because of this, make sure to revise your return policy accordingly.

Add-On Products & Services

STRIPE BILLINGSTRIPE CONNECTSTRIPE SIGMASTRIPE TERMINALSTRIPE RADAR

PLANSTARTERSCALE
First $1 million on recurring chargesFree0.7%
After $1 million on recurring charges0.4%0.7%

The trade-off with the Scale plan is that it offers discounts on ACH credit and wire transfers. Plus it gives you access to Stripe Sigma, which comes at a cost on its own.

FEATUREFEEDETAILS
Accounts$2/month + 0.25% of account volumePer active account
ACH Payouts$0.25/payoutTakes 2 business days
Instant ACH Payouts1.5% (minimum $0.50)Arrives within minutes
Account Debits1.5%No need for card information
International AccountsFees vary by countryMore info here

Keep in mind, Stripe is willing to negotiate with you if you have unusual business needs. So you might be able to get a deal that’s better suited for your business.

As mentioned before, Sigma is an advanced reporting tool that is priced on a sliding scale. Based on your overall transaction volume. This pricing method actually works well because it lets small businesses access powerful tools for a very reasonable price.

Stripe offers two integrated card readers:

  • BBPOS Chipper 2X BT ($59)
  • Verifone P400 ($299)

FEATUREFEE
Radar (Standard)2.9% + $0.30/transaction
Radar (Custom)$0.04/transaction
Radar for Teams
(Optional Add-On Bundle)
+ $0.02/transaction

In all honesty, most businesses won’t need this feature. You might consider advanced fraud protection tools if you’re a very large business with many employees.

Chargebacks

Stripe also has a chargeback fee of $15, which is an industry standard. If the customer’s bank resolves the dispute in your favor, the fee will be fully refunded.


Important Details

CUSTOMER SUPPORT & SATISFACTIONCONTRACT & CLOSING

If you run into any issues, customer support is available 24 hours a day, 7 days a week over email, phone or live chat. There’s also an extensive self-help knowledge base online for you to reference.

Since 2013, Stripe has been accredited by the Better Business Bureau (BBB) and currently holds an A+ rating.

Gathering complaints from across the internet, I found the following common themes: account holds and terminations, unresponsive customer service, not user-friendly and lack of fraud protection.

Stripe does not charge an early termination fee (ETF), ever. The company will even help you export your customer data to take with you, if you decide to leave.

Read the fine print of the terms of service before you sign on the dotted line. As is the case with most third-party processors, Stripe can terminate your account or implement a hold if your business is determined high risk. If you want more stability, Stripe won’t be a good fit for your business.


Bottom Line

Stripe ranks pretty high up among its peers, especially when it comes to online card processors. It offers everything that small to large merchants want, but falls short on one point: account holds and terminations. However, this is a common drawback to payment aggregators.

If stability is a priority, you may want to go with a traditional merchant account provider, like Chase Payment Solutions (a direct processor). Another alternative quite similar to Stripe would be Square.

READ MORE: See The Best Bank Promotions Here And The Best Investing Promotions Here

TopCashback bonus TopCashback bonus TopCashback bonus
ADVERTISEMENT
Tags: merchant servicespayment processingstripe
Previous Post

National Bankcard Review: A Good Overall Credit Card Processor

Next Post

[Expired] Ridgewood Savings Bank $350 & $200 Checking Bonuses [NY Residents]

Diana Mason

Diana Mason

Diana's passion for travel eventually led to her separation from the 9 to 5 office life and into the arms of freelance work. Cali-born and Philly-bred, she's a creative professional with a delightful knack for words. When she's not gallivanting across the globe, Diana can be found writing (of course), teaching yoga and dreaming of her next big adventure.

Recommended For You

CIT Bank Platinum Savings Earns 4.40% APY (Nationwide)

March 19, 2023 1:04 am CDT
Moneysmylife Featured Image Bank Banking Offers

The CIT Bank Platinum Savings account is a very competitive online savings account option for those with balances of $5,000 or more. See the current rate details below....

Read more

Best Bank Promotions Without Direct Deposit Requirement – March 2023

March 18, 2023 8:50 am CDT
Bank Bonuses Without Direct Deposit

Bank bonuses are great, but setting up a direct deposit from your employer or government benefits is often a big, frustrating requirement for many promotions. Most bank bonuses...

Read more

TD Bank Certificate of Deposit (CD) Rates

March 17, 2023 5:54 pm CDT
Moneysmylife Featured Image Bank Banking Offers

TD Bank certificate of deposit (CD) accounts offer a variety of benefits for people who are looking for a secure way to save money. CDs are certificates of...

Read more

Wells Fargo Savings Account Rate Offers

March 17, 2023 5:51 pm CDT
moneysmylife.com featured image banking

Wells Fargo customers can choose between two savings accounts, but there aren't many differences between them. In line with other big banks, the yields on both accounts are...

Read more

How Chase Bank CD Account Rates Compare | 4.00% APY 3-Month CD Available

March 17, 2023 5:49 pm CDT
Moneysmylife Featured Image Bank Banking Offers

Chase gives its customers a choice of certificates of deposit (CD) with different terms. When it comes to annual percentage yields (APYs), you can find much higher rates...

Read more
Next Post
Ridgewood Savings Bank

[Expired] Ridgewood Savings Bank $350 & $200 Checking Bonuses [NY Residents]

Banesco Bank

Banesco USA Offer: Savings Account (Nationwide)

MYSB Direct (M.Y. Safra Bank) High Yield Money Market Offer

MYSB Direct (M.Y. Safra Bank) High Yield Money Market Offer

Leave a Reply Cancel reply

Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.

Your email address will not be published. Required fields are marked *

Chase Business Complete $300 Bonus Chase Business Complete $300 Bonus Chase Business Complete $300 Bonus
ADVERTISEMENT
TD Bank $300 Bonus TD Bank $300 Bonus TD Bank $300 Bonus
ADVERTISEMENT
ADVERTISEMENT
Get new posts by email:

Featured Articles

Chase Private Client Office

Chase Private Client Up To $3,000 Bonus Offer – Ends 4/19/23

March 21, 2023 11:17 am CDT
TD Bank

Best TD Bank Bonuses, Promotions of March 2023

March 19, 2023 12:47 am CDT
Moneysmylife Featured Image Bank Banking Offers

Best Bank Bonuses, Promotions of March 2023

March 18, 2023 8:50 am CDT
Moneysmylife Featured Image Bank Banking Offers

Best Axos Bank Bonuses, Promotions of March 2023

March 2, 2023 12:05 am CST
Featured Chase Image

Best Chase Bank Bonuses of March 2023 (up to $2000!)

March 20, 2023 2:41 am CDT
BMO Harris Bank

Best BMO Harris Bank Bonuses, Promotions of March 2023

March 2, 2023 12:04 am CST
Moneysmylife Featured Image Cryptocurrency Crypto

Best Cryptocurrency Bonuses, Promotions of March 2023 (Free Bitcoin & More)

March 2, 2023 12:04 am CST
Robo Advisors

Best Robo-Advisor Promotions, Offers of March 2023

March 2, 2023 12:03 am CST
Best Money Transfer Services Intro

Best Money Transfer Service Promotions, Bonuses, Offers of March 2023

March 1, 2023 11:59 pm CST
Brokerage and Investing Promotions from moneysmylife

Best Stock Broker & Investing Promotions, Bonuses of March 2023

March 1, 2023 11:58 pm CST
The Best Referral Deals on moneysmylife

Best Referral Programs, Offers, Deals to Make Money – March 2023

March 1, 2023 11:57 pm CST
U.S. Bank Bonus

U.S. Bank Smartly™ Checking up to $600 Bonus – Ends 4/11/23

March 1, 2023 11:11 pm CST
Best Free Checking Account Offers (No Monthly Fees) of March 2023

Best Free Checking Account Offers (No Monthly Fees) of March 2023

March 1, 2023 10:59 am CST
Moneysmylife Featured Image Investing

J.P. Morgan Self-Directed Investing Up To $700 Bonus – Ends 4/13/23

February 16, 2023 1:55 am CST
Chase Bank

Chase Business Complete℠ Banking $300 Sign-Up Bonus [Nationwide] – Ends 5/18/2023

February 1, 2023 9:01 am CST
M1 Finance

Best M1 Finance Bonuses: $50, $500, $4000, $10000 Offers

February 7, 2023 11:15 pm CST
Bank of America

Bank of America Checking Account $100 Bonus Offer – Ends 6/30/23

January 26, 2023 4:37 am CST
Featured Chase Image

Chase Total Checking® Account $200 Bonus Offer [Nationwide] – Ends 4/19/2023

January 16, 2023 10:54 pm CST
Best Online Mattress Promotions, Offers, Discounts of 2023

Best Online Mattress Promotions, Offers, Discounts of 2023

January 30, 2023 2:16 am CST
Bank of America $100 Checking Bonus Bank of America $100 Checking Bonus Bank of America $100 Checking Bonus
ADVERTISEMENT

Search by Categories

  • Bank Promotions
  • Banking
  • Credit Cards
  • Cryptocurrency Promotions
  • Deals
  • Featured
  • Investing
  • Other
  • Referral Promotions

Latest Articles & Updates

Moneysmylife Featured Image Cryptocurrency Crypto

Coinbase Earn: Learn Access Protocol, Get $3 In ACS

March 21, 2023 11:44 am CDT
Moneysmylife Featured Image Credit Cards

Chase Sapphire Reserve: New Sapphire Terrace at Austin-Bergstrom International Airport

March 21, 2023 11:21 am CDT
Chase Private Client Office

Chase Private Client Up To $3,000 Bonus Offer – Ends 4/19/23

March 21, 2023 11:17 am CDT
Moneysmylife Featured Image Bank Banking Offers

Gesa Credit Union Promotions: Up To $350 Checking Account Bonus [ID, OR, WA] – Limited Time Offer

March 21, 2023 10:24 am CDT
Fidelity Spire Promotions: $50 New Account, $5 Sign-Up & $5 Referrals Bonuses

Fidelity Spire Promotions: $50 New Account, $5 Sign-Up & $5 Referrals Bonuses

March 21, 2023 8:08 am CDT

Newsletter

Get new posts by email:

Recent Articles

Moneysmylife Featured Image Credit Cards

Bank of America Better Balance Rewards Cards Being Converted to BoA Unlimited Cash Rewards World Mastercard

March 21, 2023 10:57 am CDT

moneysmylife.com featured image deal

Chase Sapphire Perks: Discounts For EEEEEATSCON LA (May 20-21)

March 21, 2023 10:58 am CDT

Topics

Categories

Banking Bank Promotions Credit Cards Cryptocurrency Promotions Deals Featured Investing Other Referral Promotions

*Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card and banking companies from which MoneysMyLife.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MoneysMyLife.com does not include all credit card and banking companies or all available credit card and banking offers. This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. This site may be compensated through the bank advertiser Affiliate Program.

© 2022 MoneysMyLife. All rights reserved.

  • About
  • Advertiser Disclosure
  • Disclaimer
  • Privacy
  • Terms
  • Contact
No Result
View All Result
  • Home
  • Bank Bonus
    • Best Bonuses
      • Best Bank Bonuses
      • Chase
      • Bank of America
      • U.S. Bank
      • BMO Harris
      • TD Bank
      • HSBC
    • Best Bank Bonuses w/o Direct Deposit
    • Best Free Checking Accounts
    • Best Free Business Checking Accounts
    • Best Savings Rates
    • Best CD Rates
    • All Bank Bonuses
  • Investing
    • Best Brokerage Offers
    • Best Real Estate Offers
    • Best Robo-Advisor Offers
    • Best Stock Brokers
    • All Investing Offers
  • Crypto
    • Best Crypto Offers
    • All Crypto Offers
  • Deals
    • All Deals
    • Referral Deals
    • Best Referral Deals
    • Best Contests & Sweepstakes
    • Best Freebie Deals
  • Credit Cards
    • Best Credit Card Bonuses
    • All Credit Card Deals
  • Advertiser Disclosure

© 2022 MoneysMyLife. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.