Brief Look at Stripe
Stripe provides a set of e-payment and offline payment automation solutions that scale to fit most technology stacks. This is not just a payment system that allows businesses to connect payment by card, through a browser, or mobile banking. Stripe has many of the brand's original designs, including solutions powered by machine learning and intelligent optimization that automate payments, protect against fraud, and accurately convert currencies. However, the main functionality is all about payments. Stripe payments are convenient for both the business owner and their customers. This is one of the most functionally simple, reliable, and fast systems.
- Easy integration into the company's technology stack.
- Full adaptability and scalability of solutions.
- The possibility to accept electronic payments in 135 currencies from anywhere in the world.
- There are no fees for installation, configuration, or connection of standard services; everything is transparent.
- Favorable price, the cost of using the system is 2.9% + 30 cents for each write-off.
- You can set up an individual tariff plan for a specific country, bank, or organization.
- End-to-end real-time reporting with the possibility of finite customization.
- Management of all business processes and individual operations from a mobile application.
- The system is focused on business, so it does not provide services to individuals.
- Stripe does not support PayPal and some other electronic payment systems.
TU Expert Verdict
Chief Analytics Officer
Stripe offers customizable business accounts supporting payment acceptance in 135 currencies, with solutions tailored to online and offline sales. The core payment system charges a standard fee of 2.9% plus 30 cents per electronic transaction, and supports real-time reporting, integration with a wide variety of technology stacks, and mobile management of business processes. Additional features include customizable pricing, tax and accounting automation, and machine learning tools for fraud detection and transaction optimization. Stripe enables rapid onboarding for companies of various sizes, with scalable microservices and efficient API integration.
A few disadvantages are the system does not serve individuals, so personal payments are not supported, and Stripe does not integrate with PayPal or certain other e-wallets. As there are no investment or savings products, Stripe may not suit those seeking capital growth features. Overall, Stripe is well suited to businesses needing flexible, scalable payment solutions, but is not designed for personal use or non-payment-related financial services.
Stripe Summary
| 💼 Main types of accounts: | Stripe has only one account type, it is customizable to a template or individually |
|---|---|
| 💱 Multi-currency account: | Yes (135 currencies) |
| Deposit terms and conditions: | Over 20 |
| Loan terms and conditions: | Per transaction + subscription fee for individual services |
| ☂ Deposit insurance: | Depending on the type of transaction, 2.9% + 30 cents for accepting an electronic payment |
| 👛️ Savings options: | Detailed statistics, cost optimization, business process automation, conversion increase |
| Types of payment: | Electronic payments and transfers (except PayPal and some other systems), NFC, Visa-standard cards |
| ➕ Additional features: | Personal domain, individual system scaling, tax and accounting automation, instant payments, fraud protection |
Assume that the price shown is the standard rate for connecting the company's technical stack to the system for accepting electronic payments. This already includes the comprehensive Stripe dashboard, KYC/AML verification, acceptance of one-time and recurring payments, conversion settings, and many other features such as instant payouts, additional payment methods, bank debits, and invoicing that is billed separately.
As a rule, payment for functions is linked to a transaction. For example, invoicing costs 0.5% of the invoice amount, and there are options. But such a service as a personal domain will cost $10 per month. That is, for some functions, a regular subscription fee is charged. The convenience of Stripe is that the user of the system can customize it, disabling even standard solutions.
The full functionality of a personal set of services is linked to a mobile device. The business owner receives reports on current transactions and processes and can group these processes, and filter and deselect them. From a mobile phone, users can issue and pay invoices, generate and send reports (for example, tax reports), give their staff access to certain functions, and pay salaries.
Stripe Commissions & Fees
Traders Union pointed out above that 2.9% + 30 cents for a paid invoice is the standard rate of the service. The user receives it immediately after registering and connecting his store to the system. Later, he can disable some features from the standard stack, but the payment will not decrease because the rate is standard. The stack, among other things, includes 3D Secure authentication, updating a card account, accepting and verifying standard payments, and many other useful features that competitive services often provide for additional fees.
Of the third-party functions most often connected by online stores, one can note the acceptance of ACH bank debit transfers (0.8% of the amount). For 80 cents/transfer, you can connect additional payment methods like SEPA, Klarna, and EPS. The machine learning function of the system to speed up all types of authorizations and, as a result, increase the speed of transactions, will cost the user 0.08% for each successful withdrawal from the card. Onboarding flow control costs 0.25% of the account volume.
It is not possible to list all commissions and fees within this review. In general, the standard fees for accepting payments from this service are average or below average compared to its competitors. Ultimately, the total commission that the business owner will pay depends entirely on which features he has connected to the payment service.
Traders Union also compared Stripe’s fees with similar types of fees on other e-payment systems.
| Stripe | Verifone | FastSpring | |
| Payment commission | 2.9% + 30 cents | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction | 5.9% + $0.95 |
| Deposit commission | 0.8% | Depending on the payment method | 2% (max $20) |
| Withdrawal commission | 0.08% | Depending on the payment method | $5 |
| Commission for international transfers | Depending on the payment method | Depending on the payment method | 8.9% |
The Stripe payment system is used by tens of thousands of online stores around the world. It is integrated into a business of almost any level, regardless of its design and electronic architecture. It is a series of microservices that provide payment acceptance at online and offline sales outlets. The system accepts payments in 20+ ways in 135 currencies. One of its key features is fast integration with existing technological solutions.
There is a subscription fee for some additional features, standard fees are paid by the business owner for transactions (for example, when accepting payments). The functions in the standard package are enough to meet the needs of small businesses. It is beneficial for larger companies to connect additional features such as a custom domain, tax automation, biometric verification, and identity search (available for 33 countries).
Investment Options
The official Stripe website provides detailed information about all the company's services, but among them, none allow a business to increase its capital through investment, savings, or lending. Technically, the very fact of using the service allows you to optimize costs and increase conversion in online sales. Considering that in the USA 90% of the adult population makes purchases in stores that use Stripe, it is clear that the number of customers will increase when this system is connected, regardless of the segment.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2010 |
|---|---|
| Regulation | PSD2, SCA |
| Official site | https://stripe.com/ |
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