Stripe is an online payment service where individuals and businesses can securely transfer money online, and online companies can manage recurring subscriptions. Stripe powers over 100,000 businesses in 25 countries, and functions similarly to the well-known PayPal.
Stripe is free and accepts credit cards without an extra cost, unlike PayPal. Stripe is pay-as-you-go where for each credit card transaction you pay (you only pay 2.9% + 30 cents for every successful charge), and there are no monthly fees. You do not pay for any failed charges, and once your account is set up, transfers will arrive into your bank account on a rolling basis every two days.
Like PayPal, Stripe uses advanced technology to mitigate the risk of fraudulent transactions online. Stripe is capable of handling credit card storage, recurring billing, and direct payouts to your bank account. Stripe can be quickly integrated with idiomatic wrappers for Ruby, PHP, Python and more, or use existing integrations with platforms like WordPress, Magento, and Spree. Benefits of Stripe include no setup fees, monthly fees, card storage fees or hidden costs.
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