Stripe, founded in 2010 by brothers Patrick and John Collison, is a leading payment processing platform headquartered in San Francisco, California. It enables businesses of all sizes to accept payments over the internet, providing a suite of tools to manage online transactions efficiently.
Services Offered:
- Payment Processing: Accepts a variety of payment methods, including credit and debit cards, ACH transfers, and international payments.
- Billing: Manages recurring billing and subscriptions, offering customizable invoicing solutions.
- Connect: Facilitates payments for platforms and marketplaces, handling complex money movement scenarios.
- Radar: Provides advanced fraud detection and prevention tools powered by machine learning.
- Terminal: Offers in-person payment solutions with physical card readers for point-of-sale transactions.
- Atlas: Assists entrepreneurs in establishing a legal business entity, including setting up a U.S. bank account.
- Climate: Enables businesses to contribute a fraction of their revenue toward carbon removal technologies.
Pricing and Fees:
Stripe offers transparent, pay-as-you-go pricing with no setup or monthly fees. The standard rate for online transactions is 2.9% plus $0.30 per successful card charge. Additional fees may apply for international cards, currency conversions, and other services.
Pros:
- Developer-Friendly: Comprehensive APIs and extensive documentation make integration seamless for developers.
- Global Reach: Supports businesses in over 40 countries, accepting payments from customers worldwide.
- Scalability: Suitable for businesses of all sizes, from startups to large enterprises, with features that grow alongside your business.
- Security: PCI DSS Level 1 certified, ensuring the highest level of payment security.
- Transparent Pricing: No hidden fees, with clear and straightforward pricing structures.
Cons:
- Account Stability: Some users report sudden account holds or terminations, which can disrupt business operations.
- Limited Phone Support: Customer support primarily operates through email or chat, with limited phone support options.
- Complexity for Non-Developers: While powerful, the platform may be overwhelming for users without technical expertise.
How to Use Stripe:
- Sign Up: Create a Stripe account by providing your business details and verifying your email address.
- Integrate: Use Stripe’s APIs or pre-built solutions to integrate payment processing into your website or application.
- Configure: Set up payment methods, customize the checkout experience, and configure billing settings as needed.
- Test: Utilize Stripe’s testing environment to ensure everything functions correctly before going live.
- Launch: Activate your account to start accepting real payments from customers.