Published on March 16th, 2017 | by Nico S.
Best Online Credit Card Processing: Stripe Review
Established in 2010, Stripe is a US based company that facilitates processing of online payments. This is by accepting credit card payments by both business and private individuals over the internet through their websites.
Stripe mainly specializes in offering a reliable online banking infrastructure and also prevention and mitigation of fraud .
Products and Services
Stripe claims to offer more than 100 features, and this happens to be the case. We have broken it down for you into two main categories.
1. Payment Processing
Stripe offers you instant and immediate transaction processing, much like Paypal and Square does. It also accepts over 100 types of currency and is readily available in 25 countries.
2. Developer Tools
The feature where most people indulge in. A wide variety of languages is used to integrate the Stripe payment framework. They include the likes of Java, PHP, Python, Ruby, etc. This is made possible by APIs (Application Programming Interfaces).
Some features set for you or your developer are discussed below.
Simple checkout buttons
With this, you do not have to design payment flows and forms from scratch. It allows a great level of customization. You can stay on your page unlike other services such as Paypal where you are given only the hosted page. All PCI compliance has also been dealt with for you.
Stripe is gradually increasing its offerings. A large number of tools has been put in place to enable your payments to reach the necessary merchant on time.
You can even send the merchants an instant bonus
-Platform building tools
A good example is marketplace solutions. Generally, you can create any platform you require your users to get paid.
Custom coupons and free trials
Stripe also entices would-be customers by first offering them a free trial basis or special offers and bonuses.
Mobile commerce integration
It facilitates documentation for iOS or Android devices to cater for in-app payments. A one-touch solution is provided to save users data for quick purchases the next time they purchase.
Instant debit card transfers
With Stripe, you can transfer funds immediately to a debit card directly. This normally used to take a couple of days.
You can choose to download and send report data to Quickbooks or Xero. This can be achieved using programs such as Commerce Sync, Pennypipe or Snapy.
Fees and Charges
It has a clear and straightforward pricing structure.
For every credit card transaction, you are charged a transaction fee of 2.9% + $0.30. Stripe also offers Bitcoin transactions and direct deposits (ACH). You will only be charged 0.8% per transaction but will not exceed $5.
There is also a $15 chargeback fee that is paid per every incident. However, this fee is refunded in case of reversal of the chargeback.
On the brighter side, Early termination fee, Equipment lease terms, and PCI compliance fees are not charged.
Customer service and support
Stripe is equipped with an email-based customer care service. In addition, you can seek further one-on-one assistance on public social media platforms. This includes Facebook, Linkedin, and Twitter.
It also has a knowledgebase to inform and update users.
Without a shadow of a doubt, Stripe is a good investment of your money and time since it will deliver high-quality services and this comes at a cost friendly fee.