Verisave Merchant Services Review: Stripe

Stripe for Credit Card Payment Processing

Stripe’s strengths lie in their wealth of customizable eCommerce tools. They are growing in popularity for merchants across eCommerce platforms. While Stripe is a great option for small businesses with its flat-rate pricing model, they also process payments for companies like Lyft, Under Armour, Blue Apron, Pinterest, Wish, TaskRabbit, and more.

Stripe is a third-party payments processor. This company is especially popular in the eCommerce world for it’s customizable development. So for the hard-code savvy, Strip is very appealing. They bost over 100 features on top of their ability to process credit card payments for merchants. For teams with in-house development, Stripe is a popular tool. It allows you to design your own web store front and checkout pages. If you’re not set up to design and develop your own site, Stripe can still be used to create a simple online store front for credit card processing.

While Stripe is comparable to PayPal and Square, it is not an aggregator (PAYFAC model). Being a third-party processor, Stripe is a bit more reliable and easy to troubleshoot when payment problems arise.

If you are looking to work with Stripe, or if you feel you have outgrown their services, speak with a merchant account expert at Verisave. We have worked with most credit card processing companies, independent merchant account providers, and processing gateways in a variety of industries and can help you to determine which route is best for your finances. Many business owners look to Verisave to lower their overall merchant fees and eliminate the stress of managing their merchant accounts each month.

Merchant Credit Card Processing Products & Services

Stripe is similar to PayPal, focusing primarily on simplifying eCommerce credit card processing for business owners. They have developed a number of business management tools on top of credit card payment processing. Specifically related to credit card payment processing, Stripe offers the following services:

STRIPE PAYMENT PROCESSING: Accept payments from all credit and debit card providers, present and not-present credit card transactions, mobile transactions, and more.

STRIPE HOSTED PAYMENT PAGE: Allow for secure credit card transactions on your web site without the risk of storing sensitive information. This allows for PCI compliance and limited liability.

STRIPE PCI COMPLIANCE: With Stripe’s fraud prevention tools, you can be sure to meet the qualifications for PCI compliance.

STRIPE CUSTOMIZABLE CHECKOUT: While you can utilize Stripe’s security precautions with the Stripe hosted payment page, you can also customize this page to match your existing site design.

STRIPE SUBSCRIPTIONS: Offer customers an eCommerce solution for subscription payments.

STRIPE MARKETPLACE TOOLS: This is a useful solution for eCommerce sites selling products from multiple merchants in need of routing payments in more than one direction.

Stripe Also Offers The Following Business Management Tools:

  • Platform-building tools
  • Coupons and free trials
  • Customizable reporting tools
  • Buy buttons in mobile apps

Speak with Verisave to see how we can lower your merchant account fees using Stripe. Traditionally, we will not require you to change processors, but if Stripe is not the best suit for your business and you can save on merchant fees by using another processor, then we will let you know. In any case, give us a call before making long-term commitments to any credit card payment processor.

Stripe System Integration

While Stripe is similar to PayPal and Square, not all businesses are going to find the PAYFAC model efficient for their payment processing. This makes Stripe a good option for those interested in processing credit card payments through their merchant account and a third party payment processor like Stripe.

Stripe’s system integration is simple to configure and pairs well with a number of existing POS systems, merchant accounts, and gateways.

How Much Will You Be Paying For Stripe Credit Card Processing?

For each credit card transaction, Stripe charges just a single flat rate:

Standard transaction: Fee of 2.9% + $0.30 per transaction.
ACH and Bitcoin transactions: Fee of 0.8% per each transaction, up to a maximum of $5.

Stripe’s micropayments plan for digital goods: This plan eliminates the $0.30 per-transaction fee for small sale amounts. Instead, this plan charges a higher percentage of the transaction. Different fees may apply if you’re using Stripe Connect.

Stripe’s flat rate pricing of 2.9% + $0.30 for internet transactions is exactly what Square, PayPal, and Braintree charge.

Verisave has worked with hundreds of companies to lower their overall merchant fees. We are confident our auditing experts can help you to lower your overall monthly merchant fees whether you use a PAYFAC model like PayPayl or Square or traditional merchant account and third party processor like Stripe. Looking to enroll in Stripe’s credit card processing services? Speak with Verisave to see what you could be saving by making this transition. Contact us today to start this simple process with a free analysis of your current merchant account statement.

Contract Lengths For Using Stripe Payment Acceptance

Stripe is simple. They require zero long term contracts resulting in zero cancelation fees. Stripe does include a provision that it can terminate your account or implement a hold if it deems your business an unacceptable risk (or for pretty much any other reason, or no reason at all).

Working With Stripe’s Sales and Customer Service Reps

Researching Stripe’s Merchant Services – Stripe is relatively straightforward on their website with information like pricing and available merchant solutions. However, a fair amount of detail concerning the tools they offer can be found in their educational information that is harder to find on their website. While their web content offers a lot of marketing jargon, you can learn more about their services by visiting links buried within their pages that address the specifics for each merchant tool they have created.

Contacting Stripe’s Customer Support – Stripe is lacking in customer service as they do not offer a telephone line to speak with representatives directly. All customer service is accessed via email to their customer support email account. Responses take time and yield somewhat satisfactory information depending on your query. While they offer a good amount of readable, troubleshooting information, asking direct questions to someone on the phone is an option we wished they would offer. For more immediate answers than email, you can utilize their chat feature.

VERISAVE MERCHANT SERVICES REVIEW

Stripe for Credit Card Payment Processing

While we might not promote Stripe for all merchants, they are a suitable payment processor for some. If your business is in the beginning stages, then Stripe is a great starting point. But once you begin processing higher volumes of credit card transactions, then you will need to restructure your merchant accounts to achieve greater savings in your overall merchant fees. Speak to Verisave to find out if you have reached that point. We can help direct you towards a more effective way of processing credit and debit card payments so you are not overpaying.

Verisave specializes in reducing merchant fees for companies of all sizes. Working with 500+ merchants to drastically lower their credit card processing fees has led our team of experts to develop proprietary benchmark data for tracking and comparing your rates and fees with current market trends. Based on our experience with numerous processors, gateways, and credit card providers – and now having an invaluable data set of industry statistics – our clients gain control over the confusion of the credit card industry and save money. Watch the video below to see how our trusted process works:

Whether you are currently working with Stripe or if you are just exploring your options, our experience in the credit card processing industry lends a considerable leg up to merchants in any industry. Contact us today to start the process of uncomplicating your merchant statement and lowering your merchant fees.

Leave a Comment

Savings Calculator

Benchmarking Your Credit Card Processing Fees

Get a No-Obligation Savings Analysis

Simply upload a recent Merchant Account Statement here. We will report back with any savings opportunities we identify.