Best Stripe Alternatives and Competitors: Their Features, Pros & Cons

PayPal

If you think of payment processing, PayPal is likely to be among the first names that come to your mind. It is an organization with a long experience in the field of online payments and permits companies to accept payments in various ways.

The payment gateway allows an organization to establish an online checkout site or to make use of PayPal Here to pay in person processing. It charges the same fees as Stripe, is very simple, and has an application for mobile phones that is free.

The Key Features

• High encryption technology for data encryption to protect against fraud
• Online invoicing and payments using the shopping cart and express checkout
• Scanning barcodes and tracking inventory
• Get customer cards to enjoy a hassle-free checkout experience
• Customization of invoices, templates that are pre-built Integrations, invoices, and more

Cost

The current charges for merchants using PayPal are 2.9% and an unassailable fee (depending on the country that is transacting) for online transactions. In-store transactions cost 2.7% and a fixed cost. QR code transactions under $10 cost 2.4%, while transactions over $10 cost 1.9% of the fixed cost.

Pros

• Payments instantly around the globe using just an email
• PayPal Here is much easier than Stripe for accepting payments in person
• Special discounts are offered to selected retailers

Cons

• A subscription is not free, and it may not be easy to end the subscription
• PayPal does not include certain important currencies, such as the Indian Rupee
• Costs for payments that are not through PayPal could increase your expenses by more than a third.

Stax

Previously known as Fatmerchantn, is an online payment processor that makes international payments easier for more than 20,000 customers. The platform has processed more than $23 billion worth of payments and is among the most affordable options for transaction costs.

Customers get an account with a merchant and are able to accept payments in various methods. It can be used in person mobile, keyed and contactless, virtual terminals, e-commerce shopping carts, and many more. It is a great choice if you handle at least $5,000 worth of credit card transactions each month and you are seeking the lowest interchange costs.

Principal Features

• A robust dashboard that supports bi-directional synchronization using QuickBooks Online and Company Overview Report
• Recurring billing with powerful features and online invoicing, with automated reminders for customers
• RESTful API is designed for transactions using cards that are present and cards not present to enhance capabilities quickly.
• Level 1 PCI compliance, which is the top level – means you can store and transfer data with confidence, knowing that it’s secure.
• A selection of standalone terminals that work with a range of virtual and mobile terminal options

Cost

It starts at $99 per month, including interchange-plus-priced transaction fees. The Pro plan is $159 per month, while the Ultimate costs $199 per month. There are no annual fees, contracts, or batch fees, and there is no markup in exchange rates.

However, you’ll be charged a processing fee in addition to your monthly subscription fee, which includes the following:

• 8 cents per transaction in person
• 15 cents per manual entry

Pros

• The above system is easy to navigate and simple to use, and customers can pay using an email link you send them.
• Beautifully designed dashboard with easy reporting
• Credit card processing is simple with competitive pricing.

Cons

• Integrations aren’t always as strong due to the need to produce solutions.
• It is not possible to collect credit card numbers on the form, but it is necessary to be able to invoice
• The audit trail of the invoice’s status and whether it was actually sent can be a challenge.

Square

It is among the most effective Stripe alternatives for small-sized companies. It is an online Point of Sale (POS) application for all iOS as well as Android devices. It is a point-of-sale (POS) application that works on both platforms. The Square platform also monitors the inventory and sales in real-time, which allows businesses to track the status of inventory, payment updates and opportunities for sales.

With a variety of payment options, in-depth reporting, and simple drag-and-drop tools, Square helps a small company manage its finances effectively.

The Key Features

• Real-time analytics and reporting, Invoice tracking
• Inventory management and receipts in digital format using daily updates on stock
• Integration of payment processing using the Square API
• Email marketing, employee management, and customer profiles

Cost

The cost of using Square is contingent on what you’re doing. There’s no monthly charge, and costs begin at 2.65% per card present transaction. It’s 2.9 % + 30 cents on a paid Square Invoice or Square Online sale.

If you manually enter the details of a credit card, it is 3.4% + 15 cents for each transaction. Any Interac chip & PIN transaction or tap sales will cost you an added 10 cents.

Pros

• Free membership and the first chip card reader for gratis
• Square Dashboard is easy to make use of with its ability to manage inventory directly and report on it.
• 24/7 support center, with FAQs, videos, and articles

Cons

• It is not the best solution for highly-risked industries.
• There have been some account stability issues with certain users.
• It doesn’t match Stripe in terms of the amount of available integrations

Ayden

Ayden is an amazing Stripe alternative for big businesses with an increased volume of transactions. It offers merchant accounts that allow customized online payments, with an emphasis on fraud detection and multi-channel sales. It also includes tools to manage risk and transaction optimization, as well as multi-channel payments and is largely free.

Ayden is the most advanced of all with regard to accepting payment. They employ an interchange-plus pricing structure, which is one of the most cost-effective pricing structures for credit card processing fees you’ll discover.

Principal Features

• A single platform for accepting payments, safeguarding revenue and monitoring your financials
• Create journeys that span multiple sales channels and incorporate payments into your online marketplace
• Accept in-person payment with terminals and other devices
• Revenue optimization using increased conversion rates and authorization rates
• Enhance the experience of paying by using smart authentication

Cost

The pricing is based on quotes. It also includes an interchange charge, processing fee, and the cost of payment method per transaction.

Pros

• Simple and quick onboarding using flexible connections on a global scale
• Provide local payment options for customers at shops across the globe.
• It is a great tool for customer service and makes it easy to process refunds directly onto customers’ credit cards.

Cons

• Tech support sometimes needs to be more responsive and faster in resolving issues.
• Integration can be challenging and frustrating for developers.
• They don’t work with businesses that are brand new or marketplaces that have not yet processed the payment

WePay

WePay can be described as an online payment service that is part of Chase Merchant Services and is specifically designed to meet a specific requirement. Instead of allowing businesses to accept payments online, the company is working with business owners who want to let their customers make and receive payments.

The WePay system operates largely as it is a SaaS company and is specifically designed to be a service for customers whom Stripe does not serve. The goal is to permit other platforms to develop a payment system that is similar to their own.

The Key Features

• Very fast and user-friendly with easy onboarding and a little learning curve
• Flexible APIs to cut down on technical costs and enhance user experience
• The focus of the developer is to assist in integrating swiftly with open-source SDKs and code examples

Cost

WePay needs to be more transparent about the pricing of its services on its website. There’s no cost for the application. Processing of payments begins at 2.9 % +25 cents per transaction when using credit card transactions using WePay Link. It applies to new U.S. businesses only.

Pros

• It is extremely convenient for small-scale businesses who work with WePay partners
• An interface that can be customized and is user-friendly for developers.
• A great platform for marketplaces as well as SaaS businesses that require branded payments

Cons

• It is not suited for international commerce and does not provide transparency regarding pricing
• There is no telephone support for technical issues.
• Processing costs could be high and depend on a myriad of variables

2Checkout

Small businesses seeking the possibility of a global presence may think about 2Checkout. It is best suited for businesses that are focused on international expansion and don’t need to learn an excessive amount of coding. It is among the top Stripe rivals; 2Checkout works well as a payment gateway for global merchant accounts.

An online business can accept payment from credit cards across the globe with an interface that can be easily adapted to multiple currencies, languages, as well as payment options. If you operate an online company that requires international payments, this is an excellent alternative.

Principal Features

• Make your website more efficient through A/B testing as well as global taxes and subscription management
• Recurring bill with custom checkout options
• International coverage, with more than 45 payment methods
• 30 languages and 100 display and bill currency
• Controls global sales tax and VAT management, as well as global compliance as well as surveillance of fraud

Cost

2Checkout provides flat-rate pricing. The platform offers three plans that offer different options with no credit card needed. Only pay when you begin selling.

Three plans:

#1) 2SELL

It is the most easy package to use and the simplest method to market globally. The cost is 3.5 % + 35 cents for each successful sale. The plan also includes regular billing, transactions across 200 countries, as well as integration with more than 120 carts.

#2) 2SUBSCRIBE

This plan will help you grow and expand the subscription-based business you run. It comes with everything included in the 2SELL plan plus renewals as well as upgrades, analytics and management of subscriptions. The cost is 4.5 % + 45 cents per sale, which is successful.

#3) 2MONETIZE

This plan all-in-one is ideal for businesses looking to market digital products globally. The price is 6.0 % + 60 cents per sale. It includes everything in the 2SUBSCRIBE package, including global compliance with regulatory and tax laws, as well as invoice management and access to more than 45 payment options.

Pros

• Easy to use with PCI standard for data security
• Integration lets you use an integrated platform with many applications
• A comprehensive admin panel that provides different alternatives to check out

Cons

• It is not possible to process transactions made with cards.
• A long-lasting approval process with a large amount of documents
• Problems with WooCommerce integration

Authorize.Net

Authorize.net is a payment gateway solution provided by Visa that provides in-depth reports and secure data processing, as well as fraud protection. The service is not the payment services provider and an actual merchant account.

The platform enables the actual payment process, but it doesn’t provide the account that you need to process payments. Thus, in contrast to Stripe, Authorize.net must be employed together with an account with a third-party merchant. It provides the greatest flexibility and low costs.

Principal Features

• Virtual terminal which accepts payment over the phone or in person.
• 13 different fraud filters that you can modify according to the top issues
• It supports everything from E-check, Apple Pay, PayPal and credit cards.
• Developer Center with a suite of tools that include SDKs, APIs, and documentation
• A free mPOS application that allows you to see the history of transactions, modify settings, and even perform voids/refunds

Cost

In contrast to other payment platforms in this list, Authorize.net charges a flat-rate monthly gateway fee of $25. Furthermore, a company is expected to pay 2.9% + 30 cents per transaction, which is a significant reduction from the market average.

It is important to note that Authorize.net relies on third-party resellers to sell the software. It means that pricing is not fixed in stone and may be subject to negotiation in some cases. In other cases, it could also be quite a bit greater than the prices listed here.

Pros

• You can customize email notifications to be sent for individual transactions as well as at the end of the day.
• It is able to process online payments with in-depth reports seamlessly.
• Address Verification System works well with online customers. Address Verification System works well with customers who are online.

Cons

• The Administration homepage is too cluttered and could do with more drop-down lists.
• The lack of data portability could be a problem for some users.
• It is necessary to get a merchant account from an outside party.

Braintree

Braintree is an online billing system which stores credit card data directly from the vendor’s system onto an encrypted server. It’s similar to Authorize.net because it’s a gateway for payment services that accept payments online.

The difference is that Braintree has a separate merchant account in their services. In reality, the brand is owned by PayPal and provides the same merchant services that PayPal typically does not offer.

It ensures that the platform is secure and provides more account stability at the same cost as Stripe.

The Key Features

• Create a fully-featured website using just a few lines of code or a UI that you have created to create your custom checkout page.
• Braintree is able to integrate with PayPal to allow in-person payment.
• Different payment options with a secure, user-friendly system
• Fantastic integrations, in particular with BigCommerce
• Accept credit card transactions without the requirement to be PCI conformant.

Cost

There are no monthly charges when you use Braintree, and you pay only for the amount you utilize. The typical cost is 2.9% + 30 cents for each card or electronic wallet transaction. ACH deposit fees are .75% per transaction. PayPal transactions (including PayPal Credit) incur zero fees.

Organizations that are certified as charitable (501(c)) have the potential to be eligible to receive discounted rates.

Pros

• A user dashboard which is simple to utilize with the same login details as PayPal
• Customer service experts who solve problems fast and effectively.
• Ability to block transactions prior to they are converted into the possibility of a refund

Cons

• It is not a complete subscription management system for the SaaS business.
• It does not offer API access to discounting and plan creation.
• The charge information is not easy to modify on the bank statement of the customer.

ChargeBee

ChargeBee offers a cloud-based payment service that allows businesses to establish various billing options. It can be used for periodic billing, one-time or billing-per-use.

Startups are able to scale easily through a user-friendly API and an array of integrations. It’s the perfect service for payment processing online that is able to fit any business size.

The real-time analytics and data feature includes revenue calculation as well as usage tracking. It makes it a powerful competitor to the Stripe platform.

The Key Features

• A great option for automating invoices and recurring billing system.
• User-first experiences allow you to test pricing structures, catalogues of products and subscription lifecycles.
• Users can conduct promotions without technical assistance or offer discounts. They can also provide information about the revenue generated.
• Automation of workflows with payment collections, discounts management and invoice generation
• Fix revenue leaks by coordinating GTM as well as finance processes, regions and business models.

Cost

There are no costs for setup, No monthly contracts, setup costs, or hidden charges. The platform has a variety of plans that offer either monthly or annual payment options.

 Launch – free for a month for 3 users

It is a great option for startups at the beginning of their development who want to focus more time growing and less time on manual tasks.

Rise – $249 per month for 10 users.

Ideal for small and agile businesses looking to boost revenues through quick tests and data-driven analysis.

Scale – $549 per month for 25 users

A plan for startups that are growing fast and want to improve efficiency in their revenue production.

Enterprise – Custom

This plan is designed for large companies that want high-end compliance and diversifying revenue streams.

Pros

• Account managers and the support team are friendly, knowledgeable and accommodating.
• Ample in features and constantly adding new updates every quarter.
• Automated sign-up and management of customers help simplify the account setup process.

Cons

• The interface is a bit confusing; it could be more user-friendly and mobile-optimized
• It is not possible to permit users to choose their plan.
• It is difficult to see the total amount prior to the invoice or adding non-billed charges. It can result in chargebacks.

Wise (Formerly Transferwise)

Wise is the brand new global payments system that delivers all the devices required to produce an enterprise and operate internationally. It allows worldwide money transfers at reasonable exchange rates and allows companies to pay for invoices across 70+ countries.

Make payments to overseas banks without paying high conversion costs and pay up to a thousand people at a time. Wise can also help a company receive the IBAN, routing number and sort code all in the same account for business.

Your team can make purchases both online and in stores without charges for foreign transactions, and you can transfer money between accounts in a matter of seconds.

Principal Features

Invoices are 19x cheaper in comparison to PayPal. All you need is an email address for the person who will be receiving it along with bank information.

• Employee reimbursements, payroll international and recurring payments with only one click
• End-to-end encryption offered by top institutions such as Barclays, along with multi-currency banking
• Pay out online marketplaces or traders using your IBAN as well as other account information.
• Debit cards for business expenditures in any currency, without fees for foreign transactions

Cost

Wise charges 1% to make an exchange, and there’s no additional cost for currency exchange. In general, it is cheaper than banks. Wise provides affordable pricing and an entire webpage specifically dedicated to calculating your precise rate.

It’s easy to open an account, and the cost to transfer money will be based on the currency.

Pros

• It is an excellent way to facilitate frequent transfers to people who live overseas.
• Compared to other banks and services, such as Western Union, Wise is extremely affordable.
• You can transfer money to any location without transferring access to your business bank account.

Cons

• Accepts fewer currencies than the other Stripe competitors.
• It can take an extended time to finish complete certain transfer processes
• There have been some issues in the system which allow certain credit cards.

Honourable Mentions

Fintech-based platforms that facilitate processing credit cards are worth mentioning:

• Helcim
• National Processing
• Flagship Merchant Services
• Payment Depot
• Intuit QuickBooks

Final Thought

Stripe has grown to enormous sizes. The company boasts that there’s an 89% likelihood that any particular debit or credit card is within the network. Pricing, flexibility, customization and customer service are just a few of the factors that make Stripe the perfect solution to process payments. However, it’s not — and ever will be the only option.

Every company has its their set of necessities and that includes the marketplace for processing payments. There are many Stripe competitors that are better suitable for your business. All it boils to the requirements of operation of your company and the features provided through the services. Check out the following elements when making your decision to go with your Strip alternatives:

• Do we require a merchant account?
• Do we require global payments?
• Do we require an e-commerce solution?
• What kinds of integrations are we looking for?
• What speed do payments need to take place?
• Are we paying in large quantities?

Also, you may be interested in the pricing structure. Certain brands provide a monthly subscription that has less cost per transaction. Some platforms provide cheaper rates of exchange for international transactions.

Once you’ve got your requirements in place, it’s simpler to match them up with the best capabilities of a payment processing software that will boost profits and aid your business expansion.