Stripe Review - why 4.7 stars?

Shlomi Lavi / updated: Mar 14, 2022

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What is Stripe?

Stripe payment collection software solution for modern businesses that leverage e payment and e-transactions to the customers. It puts forward an all-in solution for the payment processing of businesses of all sizes. It offers the companies, from startups to large public companies, to accept payments and collect credit cards online without any merchant account and gateway.

It also provides the services and various development features to execute and implement online payment methods. Specifically, Stripe Payment Management Software offers functionalities like debit/credit card processing, mobile payments, online payments, subscription billing, PCI compliance, cryptocurrency processing, billing and invoice, reporting and analytics, data import and export, online customer support, and other basic options.

Stripe is the software product of the software company named Stripe. Stripe is an Irish-American financial service and software as a service (SaaS) company dual-headquartered in San Francisco, United States, and Dublin, Ireland. The software product offers the leverage of designing a custom package for the businesses including volume discounts, multi-product discounts, interchange pricing, and country-specific rates.

Who is it best for?

Customers of the software include businesses of all sizes without any distinction of industry. A businesses form any industry that needs to implement online payment system can benefit from the software. It has been deployed in a wide range of industries including financial services, retail and sale, manufacturing, e-commerce and others.

Main features and functionalities

The software offers the facility of instant payment acceptance where users can connect via existing Stripe account of make a new one. It offers full access to users payment data along with various editing options. Information is stored at a centralized location and can be shared with connected users.

The software also offers easy PCI compliance, collection of transaction fees, debit card support, multiple merchant account, and website billing, and POS transactions.

What is the actual cost?

Unlike many other software products, Stripe Payment Management System luckily displays its pricing plans publicly on its website, which could be found on other forums. The per license pricing module starts from dollars 500 for a license. The other module is per transaction payment module, and it starts from dollar 0.30. Pay 2.9% per successful card charge for a non-European card and 1.4% per each successful card charge for European cards. Stripe does not charge any setup fees, monthly fees, validation fees, refund fees, card storage fees for its payment management system. There is also no fee for failed payments.

ITQlick pricing score is 4 out of 10 (10 is most expensive). Access ITQlick pricing guide for Stripe. You can also find here pricing information from Stripe's website.

Pros

• The dashboard and reporting tools really well function. These are best suited for e-commerce sites, and many such sites are already using this software product
• Stripe has a pretty professional and responsive training team. While implementing, the team also trains the users upon special scenarios and cases
• The software provides integration with various mobile payment methods including Order Ahead, Instacart and others.

Cons

• One needs to check their account every now and then, or else they would need to reverify the account for usage after a certain period
• The software lacks the services of ACH check transactions and gift card management.

How it stacks up?

Access a head to head analysis of Stripe vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is Stripe right for you or your business?

From small startups to large enterprises or publicly registered companies and governmental services, everyone could benefit from these software products. This is a perfect solution for those businesses and service providers who operate online or want to maintain their online presence side by side. Stripe is continuously improving itself to support users with new and modern features.

Stripe can be integrated with your current business model to support payments from anywhere around the world. It is an ideal option give the pricing method as well as multi-device and multi-location support. The overall customer support is strong helping users with all their queries in no time.