What is Stripe?
Stripe is an international payment service provider used to make and receive payments online for internet businesses of all sizes. Standard payout timing varies from one country to another but it usually takes 2–7 business days.
There are two main types of Stripe billing fees: pay-as-you-go pricing and a custom package designed specifically for your business. In the first case, you can get started with managing your payments in minutes, while the second method requires some setup time. However, the company offers substantial discounts and deals.
How Stripe Works?
Being one of the most popular eCommerce solutions for web and in-person retailers, software platforms, marketplaces, subscription businesses, Stripe allows one to accept and process payments as well as manage finance online.
So how Stripe works? Each online transaction requires a payment gateway and a processor. The first one securely captures and transmits the buyer’s credit card information to the processor. In turn, the payment processor transfers money to a third-party account deducting card-related fees. After that, the payment is routed to the merchant’s bank account.
What makes Stripe unique is that it combines gateway functionality and payment processing. Since Stripe payment fees are quite low, this platform is considered to be not only very convenient but also the cheapest way to handle eCommerce.
Why Choose Stripe?
Stripe is known to be one of the best choices among the business owners mostly because it removes the “pain” from payment processing. Key reasons to choose Stripe are:
Stability
The platform functions perfectly because of frequent updates and continuous testing. Sometimes sending and accepting payments without delays or errors is crucial, and with Stripe, you don’t have to worry.
Amazing support
If you have any troubles while using Stripe or need consultation, support is always available. Be sure you’ll get all the help you need in a promptly manner.
Transparency of Payments
The pricing is transparent. The system doesn’t charge any hidden fees from businesses or customers as the company focuses on the best ethical practices.
Reliable reputation
While thinking of financial operations, you surely do want to know that the company cares for security. Stripe has proven its trustworthiness over years of successful performance on the market.
Usability of the interface
Stripe cares for its clients, so the interface is intuitive and extremely easy to use. This saves plenty of time when navigating and entering data regardless if you’ve already used to online payment systems or just a beginner.
Easy to integrate
If you are a marketplace startup, one of the challenges you may face is choosing the most convenient payment system. Try Stripe as it offers great integration possibilities.
Universality
Stripe processes all types of currencies and credit cards as well as working with numerous payment methods.
Conclusion
So now you have basic information about Stripe. It seems to be an amazing solution for e-commerce.
However, are you ready to find out more? If you want to read more about advantages and disadvantages of Stripe and the comparison between Stripe and other payment systems — take a look at a brief guide in our blog.
