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Stripe review

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Its arsenal of developer tools is impressive but startups may be overwhelmed by the options.

Stripe offers online and in-person payment processing with a sprawling suite of developer tools — but if your customers prefer to pay by PayPal, you may need to go elsewhere.

  • Choose this provider if you run an online business and have the technical know-how to take advantage of Stripe’s developer tools.
  • Consider something else if you complete most sales in person and want an all-in-one point-of-sale (POS) solution.

Details

SolutionsIn-store
Mobile
E-commerce
ProductsPayment processing
POS software
POS hardware
Contract required?No
Prices start at2.9% + 30¢ per successful card charge
Processing time2 business days
High-risk merchants accepted?No
Best of 2020
Finder experts pick Stripe as a 2020 best brand for payment processing.

Stripe services

Stripe’s services include payment processing and extensive developer tools:

  • Payment processing. Accept payments from customers in-person, online or via a mobile device.
  • Merchant account. Access an aggregated merchant account through Stripe’s third-party processing model.
  • Developer APIs. From API client libraries to Android and iOS SDKs, Stripe has comprehensive developer features for integrations built from the ground up.
  • POS hardware. StripeTerminal offers a choice between two pre-certified Stripe card readers with the freedom to build your own point-of-sale software solution.

Features

Stripe offers an impressive range of processing features:

  • Payment options. Stripe supported payment methods include ACH credit and debit transfers, Alipay, WeChat Pay, digital wallet payments and all major credit and debit cards.
  • 135 currencies supported. Display prices and process transactions in over 135 currencies.
  • Mobile payments. Whether you prefer to process through a mobile website or use an iOS or Android app, Stripe’s mobile SDKs help you get up and running with only a few lines of code.
  • Stripe Radar. Stripe Radar algorithms help you identify and prevent fraud using Dynamic 3D Secure technology.
  • Dispute handling. Stripe’s dispute handling directly integrates with Visa Claims Resolution and MasterCom and submits evidence most likely to help your business win based on the type of dispute and associated network rules.
  • Reporting tools. Use Stripe’s built-in reporting or create your own reports, from monthly reports to transaction-level balance breakdowns.
  • Stripe dashboard. Review transaction data, customers, plans and balances alongside real-time reporting and analytics, fraudulent charges and refunds.
  • Third-party integrations. Stripe is able to integrate with multiple third-party integrations including InstaPayments, WP EasyCart, WP Forms and WooCommerce.

What hardware is available?

Stripe Terminal supports two POS hardware terminals:

Verifone P400BBPOS Chipper 2X BT
Type of systemCard readerMobile POS, card reader
ConnectivityEthernetBluetooth 4.0, Micro USB
Screen3.5″ HVGA color touchscreenNo Screen
Accepted paymentsMagstripe, chip, tap-and-goMagstripe, chip, tap-and-go
Cost$299$59

Stripe pricing and fees

Stripe’s transparent pricing model helps you understand exactly what you’ll pay for each of its services:

How do I open an account with Stripe?

To create an online Stripe account, you’ll need to go to Stripe’s website and click Start Now. Enter your email address, full name and select a password.

Once you have an account, indicate whether you’d like to use Stripe’s API or integrate with an existing app to start accepting payments within minutes.

If you require a customized account, get in touch with Stripe’s sales team to begin the application process.

Pros and cons

Pros

  • Transparent pricing. Stripe is up front about all processing rates and fees — an impressive choice that differentiates it from competitors.
  • 24/7 customer support. Chat, email and phone support is available 24 hours a day.
  • Payout management. Select weekly or monthly payouts or opt into Stripe’s instant payouts feature for immediate access to your funds.
  • Software integration. Stripe’s processing platform integrates with an extensive range of accounting, e-commerce, inventory and shopping cart software.

Cons

  • No POS software. While Swipe offers POS hardware options, these terminals aren’t accompanied by any POS software — you’ll need to build your POS software using Stripe’s APIs and SDKs.
  • No PayPal. Stripe allows you to accept a myriad of payment methods but doesn’t support payments by PayPal.

Compare Stripe to other top payment processors

Data indicated here is updated regularly
Name Product Contract required? Prices start at Processing time High-risk merchants accepted?
Chase Merchant Services
No
2.6% + 10¢ per swiped credit card
Next day when you deposit into a Chase business checking account
No
Accept, process and deposit customer payments in your store, online or on-the-go.
Fattmerchant
No
$99/month + interchange + 8¢/transaction
Next day for qualified businesses
No
Businesses that process more than $10,000 monthly can save with Fattmerchant's interchange+ pricing.
Square
No
2.6% + 10¢ for payment processing, POS software included
Next day
No
Square is a one-stop shop with both e-commerce and in-person solutions.
Helcim
No
0.10% + $0.10 per transaction
Two business days
No
Conveniently packaged into three service tiers for in-person and online sales.
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Compare up to 4 providers

What other products will I need?

With Stripe, you have most of what you need to process payments. But it lacks an important piece of the processing puzzle:

What is Stripe?

Stripe was launched in 2011 and is headquartered in San Francisco. It has over 2,000 employees with offices in Dublin, London, Paris, Singapore, Tokyo and more.

Stripe offers payment processing solutions to companies in over 120 countries, from enterprise titans like Amazon and Microsoft to sharing economy powerhouses like Lyft and Postmates.

Customer reviews and complaints

Stripe is an accredited business with the Better Business Bureau (BBB) and receives an A+ BBB rating. On TrustPilot, it maintains an overall TrustScore of 3.4 out of 5 based on 1,870 reviews.

Reviews of this processing platform are mixed. Positive feedback praises Stripe’s customer support team and smooth onboarding experience. Negative reviews mention processing delays, chargebacks and transaction holds — a common complaint for third-party processors like Stripe.

How do I contact Stripe support?

Stripe customer support can be reached by:

  • Phone. Stripe doesn’t offer call-in customer service. From Stripe’s contact page, you can request a call 24 hours a day from the customer support team. A Stripe team member should be in touch within three to five minutes.
  • Email. General inquiries can be forwarded to info@stripe.com for a response within one business day.
  • Live chat. Stripe’s live chat is available 24/7.

Bottom line

As one of the bigger players in the payment processing industry, Stripe’s platform has much to offer. It’s transparent about rates and fees, offers a variety of services and features and integrates with a number of popular e-commerce platforms. But without a dedicated tech support team, you may not be able to put its sophisticated developer tools to use.

Browse your payment processing options with other providers for the solution that best fits your business.

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