Stripe Credit Card Processing Review

Best for Developers

While other credit card processing companies seek to provide economical, simple solutions for accepting credit card payments, Stripe sets a loftier goal. The company’s stated mission is to “increase the GDP of the internet.” As such, it is hyper-focused on creating new technology and is a favorite of developers who collaborate with Stripe to generate customized solutions for their businesses. Stripe uses, encourages, and funds the development of open source applications.

Going Global Made Easy

Stripe accepts payment in 135 currencies and does business with companies in more than a hundred countries. But accepting payments is just the beginning with Stripe. You can also use stripe to make payments to vendors or sellers whose products you feature on your e-commerce platform. Stripe also facilitates subscription billing and integrates with many popular e-commerce platforms.

Stripe offers two readers, one portable ($59) and one suitable for stationary use ($299). The company charges 2.9% plus 30 cents per successful payment received, in addition to the per-transaction fee you pay to use your merchant account. There are no other set-up or monthly fees. Stripe readers allow you to collect payments from all major credit cards and wallet apps like Apple Pay and Google Pay. 

Broad Integration Capabilities

While Stripe’s per-transaction fees might be higher than those charged by other companies, the company offers a host of integrated features you can use to run your business more effectively. Stripe Sygma provides a wide range of business reporting. You can share access to reports with employees across your organization. Stripe Radar helps protect your business against fraudulent transactions and analyzes fraud when it does occur. The company also offers fraud insurance that covers you 100% if your business is victimized for $.04 per transaction. That may be a small price to pay for peace of mind, particularly if your business routinely takes very large payments. In addition, Stripe incorporates a programmed set of features to simplify dispute resolution. 

Small businesses may find that Stripe has too much power for their needs. But if you are doing business globally, want the option of scaling up quickly, would benefit from access to a wealth of business insights, or are looking to support your internal developers in creating customized solutions, Stripe will fit the bill nicely.