Stripe Payments

Score8.5 out of 10

335 Reviews and Ratings

What is Stripe Payments?

Stripe is a payment gateway software solution which supports a range of payment related needs such as subscription management and recurrent billing via Stripe Billing, integration with third party payment services via the Stripe Connect API, assistance starting an Internet business which accepts payements via Stripe Atlas, fraud prevention via Stripe Radar, and payment analytics via Stripe Sigma.

Additional features and modules include Stripe Issuing, which allows users to create, manage, and distribute virtual and physical cards. Control expenses, reduce operational burden, and create new lines of revenue. Stripe Invoicing is a global invoicing platform. Stripe Treasury is a banking-as-a-service API that lets users embed financial services in a marketplace or platform. With a single integration, enable customers to hold funds, pay bills, earn interest, and manage cash flow.

Categories & Use Cases

Payment Form Acceptance
Ability to accept many different forms of payment
Category average: 7.2
Recurring Payment Support
Ability to support subscriptions and recurring payments
Category average: 7.4
Fraud Detection
Ability to detect fraudulent transactions while allowing legitimate transactions
Category average: 7.1

Global Support
Supports many currencies and languages
Category average: 7.4
API or SDK
Tools to interact with payment gateway code
Category average: 7.8
Billing and Invoicing Support
Billing a client for work done
Category average: 7.3

Verified User

Administrator in Finance and Accounting (11-50 employees employees)

Use Cases and Deployment Scope

We use Stripe for on-site payments and link it to our accounting platform so people can easily interact with our payment systems. It's great because we can also use it to set up one-time payment links, QR codes, and specific links that we can then track and generate reports from.

Pros

One time payment links.
Refunds if requested.
Generate reports.
Allows you to see your available balance.
Shows any failed payments.

Cons

I generate monthly reports and use the custom function, which could generate a more simple report when you just want to see the amount, product, and one or two other elements.
Sometimes, customers have issues with payments. I'm not sure if this is with the 2fa or an actual Stripe system issue.

Return on Investment

It's had a positive impact on enabling a link to our accounting platform for online payments. This has seen quicker payments for our invoices and increased our cash flow.
The fees charged have caused some issues in regards to our net gain when its on larger sums.
It has enabled a better variety of options for our clients, such as one-time payment links, QR codes, and being able to generate reports and track specific elements of our business.

Usability

Other Software Used

Sage Accounting

Verified User

General Manager in Customer Service (1001-5000 employees employees)

Use Cases and Deployment Scope

Streamlessly accept and manage online payments across multiple touchpoints. Improving customer experience, security and compliant and scaling globally.

Pros

manage transactions
support on fraud activity
management of chargebacks

Cons

dashboard complexity for non tech users
dispute and chargeback management
Reporting

Return on Investment

improved fraud risk management
reduced time spent managing chargebacks
reduced time finding customer transactions
reduced agent handling time
reduced payment failures
negative - higher tranaction fees compared to local gateways

Usability

Verified User

Director in Information Technology (11-50 employees employees)

Use Cases and Deployment Scope

We use Stripe Payments to facilitate online transactions. We sell games and other digital products and use Stripe integrations to automate fulfillment of these items purchased through Stripe Payments. This allows us to offer an alternative purchase method to other platforms for our customers, and when a customer purchases through Stripe Payments, we save quite a lot on platform fees because Stripe's fees are less extreme.

Pros

Ease of use for customers
Dashboard is excellent
Integration options are excellent
Dependability (we've never had a failed transaction because Stripe had a technical error!)

Cons

Stripe's documentation isn't terrible, but navigation seems relatively slow for the content that is actually served.
There are a few rules that seem strange/arbitrary to me (ex: you can create a 100% off one-time-use coupon but it can't actually be applied by a customer to a purchase) and I never got an explanation.
Their transaction fees aren't the lowest in the field, and lower introductory rates to start out would probably be nice for a lot of people.

Return on Investment

Using Stripe Payments saves us about 70% of the fees of other platforms to sell games online.

Usability

Alternatives Considered

Gumroad and Shopify

James Crook ☛ Business Coach for Massage Therapists ☚View profile

Lead Business Coach for Massage Therapists in Marketing at Massage Champions (1-10 employees employees)

Pros

Connects with the most common online shopping carts to handle online payments
Easy to use and understand (both for purchasers and business admins)
The login area for Stripe shows a record of transactions and displays data in useful reports

Cons

Having a payment plan with a set number of payments with start and end dates
"Dunning" ie re-trying scheduled payments on an interval if they fail the first time

Return on Investment

It is the main channel we use to be able to charge our clients and sell online products and services - so over 90% of our revenue is handled through it

Alternatives Considered

Square POS

Other Software Used

WordPress, WooCommerce, Zapier, ClickFunnels

Nikki Valentine

Director of Finance in Finance and Accounting at The Burkhalter Group (11-50 employees employees)

Use Cases and Deployment Scope

I use Stripe Payments daily for client payments. So far, I have not figured out how to add the processing fee to clients that have subscription payments.

Pros

Integrates with Xero.
Easy payments for clients.
reconciliation.

Cons

Show less coding unless requested.
separates processing fee into separate transaction when feeding into Xero.
processing fee not processing on subscription/recurring payments.

Return on Investment

Lowered processing fees.
having to manual enter recurring payments to capture processing fees.
Less time processing client payments on my end.

Usability

Alternatives Considered

Authorize.net

Stripe Payments

What is Stripe Payments?

Categories & Use Cases

Key Features

Top Performing Features

Payment Form Acceptance

Recurring Payment Support

Fraud Detection

Areas for Improvement

Global Support

API or SDK

Billing and Invoicing Support

Reviews

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Cons

Return on Investment

Usability

Other Software Used

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Return on Investment

Usability

Use Cases and Deployment Scope

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Usability

Alternatives Considered

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Return on Investment

Alternatives Considered

Other Software Used

Use Cases and Deployment Scope

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Return on Investment

Usability

Alternatives Considered

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