Featured image from Clay Banks via Unsplash

Are you searching for the most cost-effective payment processing service for your online business? Stripe has become one of online merchants’ top choices. In fact, Stripe’s business and payments software has become a popular solution for various types of merchants. This because it is easy to use, customizable, and cheaper than most other providers.

With Stripe Payments, you can accept credit cards, debit cards, and other payment methods. The service is suitable for e-commerce, and an option is also available for in-person payments. Find out what the processor offers to merchants like you.


What Is Stripe?

Stripe is a payment service provider designed to facilitate online transactions. It supports credit card processing, allowing merchants to accept more than 130 currencies.

You can also use the platform to accept other transactions, including ACH payments, debit cards, mobile wallets, and virtual wallets.

Stripe works by validating the payment method, processing funds transfers, and protecting data. The software comes with advanced developer tools that let you tailor the checkout process to your customers’ requirements. Your developers can help you figure out the customized integration, or you could work with Stripe consultants.

Stripe merchant accounts are easy to set up and don’t have monthly fees. However, the platform imposes a chargeback fee of $15.

What Services Does This Product Suite Offer?

Stripe contains a fully integrated product suite that provides several services to businesses.

Stripe merchant accounts accept payments and send payouts worldwide. For this reason, you can sell goods and services to customers globally. The platform allows you to support different payment alternatives, including mobile wallets. With Stripe, you can accept local payment methods in 34 countries.

You enjoy fraud and risk management when working with the payment provider. Radar, which is part of the software, uses machine learning to detect and block fraud. The system is designed with modern internet enterprises in mind. It pinpoints fraudulent activities without blocking legitimate customers. A high-risk merchant account benefits from Dynamic 3D Secure protection as well.

Billing is another service the provider offers. Do you run a subscription service? This payment processing solution lets you set up recurring transactions. This means you can bill your customers through invoices or subscriptions by integrating different payment alternatives. The service works for any recurring billing model. Whether your business supports free trials, coupons, or add-ons, the platform offers flexible billing logic.

The platform also provides banking-as-a-service, enabling you to embed financial services in your product through Stripe Connect. Therefore, customers can use your marketplace to hold funds, collect yields, pay bills, and manage cash flow. Thanks to programmable APIs, you can create payment experiences that match your platform.

What Kinds of Businesses Use Stripe?

Stripe is tailored for online payments. Therefore, if you provide your services or goods on the internet, then this platform could meet your payment processing needs.

It is suitable for all kinds of businesses, from startups to Fortune 500 companies. If you run a growing e-commerce venture, then the platform is suitable due to its flexible processing and flat-rate pricing. You can tailor the payment options to suit specific business needs.

Since online businesses cater to varied customers, the customization of the checkout process makes Stripe a suitable solution for many merchants. If your business does international sales, then you might want to consider this provider. The platform accepts 135 currencies and more than two dozen local payment alternatives. Stripe is also a good idea if you run a high-risk merchant account and have trouble finding a cost-friendly traditional payment processor. The company has criteria for evaluating high-risk businesses and sets certain conditions for these merchants.

Pros and Cons of Using Stripe Business and Payments Software

If believe the Stripe platform is ideal for your credit card processing requirements, you should also know what to expect. One major plus of using the provider is that it has minimal fees. For online transactions, it charges 2.9% +$0.30, while in-person payments are 2.7%+0.05. You pay 15% for chargebacks, with no monthly minimum or fee.

Stripe merchant accounts don’t have contracts. This means you don’t have to be tied to this provider for a certain period. You can close your account whenever necessary, provided you conclude all payments.

If your online business also takes in-person transactions, then the provider allows you to integrate with popular point-of-sale systems. Additionally, it has coding that enables integration with individual point-of-sale systems.

One big disadvantage of this payment processor is that it requires the skill of experienced developers to leverage the free API. Thus, a small business without an in-house team has to plan for these costs.

If you intend to accept PayPal, then Stripe might not be the most suitable processing solution for your enterprise.



If you want a hassle-free credit card processing solution for your online business, then Stripe warrants consideration. This platform caters to a broad category of enterprises, from small e-commerce ventures to medium and large companies. Thanks to a flat rate and no monthly billing, you can pay as you go, enabling you to save money. Even though the provider largely caters to online payments, it also works for limited in-person transactions.