Stripe Review - why 4.7 stars?

Stripe Review
ITQlick Score: 91/100
ITQlick Rating: (4.7/5)
Pricing: 4/10 - average cost
Category: Payment Processing -> Stripe
Ranking:Ranked 1 out of 11 Payment Processing systems
Company: Stripe
Pricing: starts at $500 per license
Typical customers: Small, medium and large size businesses
Platforms: Mobile, Cloud
Links: Stripe pricing, Stripe alternatives

Shlomi LaviShlomi Lavi / updated: Mar 14, 2022

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What is Stripe and its features?

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.

What is Stripe rating?

The rating of Stripe is 4.7 stars out of 5 and the total score is 91 out of 100. The rating score is based on our unbiased data-based algo. Learn more - rating methodology page.

Who uses Stripe?

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.

Is it easy to use?

Yes, Stripe makes it fairly easy to use. This product is user friendly and intuitive.

Is Stripe cloud-based?

Yes, they offer cloud based hosting, which means IT resources are retrieved through web-based tools and applications and you don't need to buy servers and additional hardware equipment.

Can it be used on mobile?

Yes, you can access Stripe on your mobile/smart phone.

Is Stripe the best Payment Processing system?

Stripe is ranked 1 out of 11 software in their category (Payment Processing systems).

What are their 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 are Stripe's pros? (3 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.

What are Stripe's cons? (2 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.

Who are their main alternatives?

Stripe payment management system faces competition from many other software products in the lane, including PayPal, Marketing 360, and Square Payments.
  • FUNCTIONALITY: PayPal is a web-based and cloud-based SAAS solution that extends its services to developers, small, medium, and large-sized businesses, marketplaces, enterprises, and e-commerce platforms. It performs various payment processing functions like billing and invoice, subscription billing, mobile payments, in-person payments, and multiple payment options. Also, there are add-on features like reporting and analysis, electronic signature, and Point of Sales (POS) solutions. Stripe payment management system does not provide electronic signature and POS solutions; however, it processes cryptocurrency payments.

    Square Payment is also a web-based and cloud-based SAAS solution suitable for every business, from a one-person startup to a big enterprise. It offers the same services and features as Stripe Management System, including cryptocurrency processing. Its additional features are an electronic signature, POS solution, processing service integration, in-person payments, and multiple options. Any business can opt for this depending upon its need.

    Marketing 360 is a web-based as well as cloud-based SAAS too. It also offers the same features as PayPal like electronic signature, POS solution, in-person payments, and processing services integration, and these services are not provided by Stripe. However, Stripe does cryptocurrency processing, and Marketing 360 does not. So customers again can choose based on their needs.
  • DEPLOYMENT: PayPal, Square Payment, Marketing 360 along with Stripe Payment Management System are all web-based and cloud-based SAAS solutions. These are not deployed over the desktop. However, all of these provide Android, iPad, and iPhone.
  • CUSTOMER SUPPORT: PayPal offers support over phone calls, emails, FAQs forums, and webchat. Square Payment also provides these channels. However, there is a deduction of web chat. Marketing 360 provides support over phone calls, emails, webchats, and not FAQs forums. Stripe Payment Management System offers customer support over the same channel with a difference of one or two. Such as it offers the 24/7 live reply, which its alternatives do not, and does not offer the phone call support which its alternatives do.

What is the cost of Stripe?

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.

What is the REAL total cost of implementation? on top of the total cost of licenses which is easy to calculate you need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 4 out of 10 (10 is most expensive). You can fine here the REAL total cost breakdown for Stripe. You can also find here pricing information from Stripe's website.

What should you ask Stripe during a demo session? (65 questions)

Schedule a demo with Stripe and access 65 must ask questions for the vendor while watching Stripe in action.

Where Stripe is used?

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.

List of categories

Payment Processing
Recurring invoicing
Software update
Retail & POS
Bakery POS
Convenience Store POS
Grocery POS
Gun Shop POS

List of features

Basic Reports
Data Import/Export
Online Customer Support
Multiple Payment Forms

Stripe Vs. Alternatives

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Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.