Stripe Payments is a powerful payment processor for online sales. It can accept dozens of payment methods and 135+ currencies. And its advanced developer tools allow you to create a checkout flow that feels personalized, provided you know how to use them.
Stripe users can accept in-person payments by integrating the company’s point of sale option, Stripe Terminal. But when you do most of your business in person, there are better options. For example others , like Square, offer specialty restaurant and retail features such as close-of-day reports and inventory tracking.
However, Stripe’s flat rates are easy to understand and there are no monthly fees. In addition, you can cancel at any time if it does not fit.
Stripe is best for business owners who:
Stripe Payments charges flat rates for most payments:
The service charges additional fees for some international transactions. These include:
For an ACH direct debit transaction, Stripe charges 0.8% with a cap of $ 5.
If you have a custom pricing account, Stripe may impose additional fees, including:
Stripe also charges a 1% instant withdrawal fee so you can instantly transfer funds to a debit card instead of waiting for your next scheduled withdrawal.
You can only create a Stripe account with your name and email address. Confirm your email address to activate your account.
You will then need to provide some additional details including:
Next, you need to set up two-factor authentication.
At the end of the onboarding process, you’ll be asked to choose Stripe Climate, a carbon sequestration initiative that you can support by automatically contributing a percentage of your sales. Participation is voluntary.
At this point you can customize your checkout process and send payment links and invoices to customers. However, you cannot collect your first payout until seven days after receiving your first payment. Depending on your industry, you might have to wait up to 14 days.
If Stripe is unable to verify your personal or business identity from the information you provide, the company may ask you to upload a copy of government-issued photo ID.
Generally speaking, is designed for in-person transactions while Stripe is designed for online transactions. Square offers several point-of-sale hardware options, including a free magnetic stripe reader that users can plug into an iOS or Android phone. You can use Square POS to manage your inventory and offer retail benefits such as gift cards. You can even create an online store through Square Online.
In addition, Square services specially designed for retail and restaurants are offering the ability to accept returns and exchanges with updated plans. The seat management for restaurants indicates which person has ordered which dish at a table.
If you’re overwhelmed by the range of options Stripe has and want a simpler solution, PayPal can be a great option. PayPal Checkout is an easy way to copy and paste a code into your website to accept payments. But the more coding you have, the better you can customize the checkout process.
Like Stripe and Square, PayPal sells point-of-sale hardware specifically designed for the software. Personal sellers can accept credit and debit cards, mobile wallets, and payments through Venmo, which owns PayPal. You can also take a credit card number by phone and enter it manually.