9 Best Stripe Alternatives for Payment Processing in 2022

Every website needs a payment processing system to let customers pay for products and services they are interested in. 

So if you are willing to add a payment processing system to your online business, there is a high chance you know about Stripe already, one of the most popular payment processing platforms.

Many of you may have used Stripe before or looking for some alternatives for your business. Therefore to help you out, we will walk you through some of the best stripe alternatives and everything you need to know about them.

Let’s start with the basics first.

What is Stripe?

Stripe, Inc. is an Irish-American financial service and SaaS company founded by two Collison brothers, Patrick and John in 2010. It is dual-headquartered in San Francisco, the United States, and Dublin.

Stripe primarily offers payment processing software and API for e-commerce websites and mobile applications. Stripe also helps companies prevent fraud, send invoices, get finances, manage business spending, issue virtual and physical cards, and more.

Does Stripe Competitors Better Than Stripe?

It is hard to say whether Stripe’s competitors are better than Stripe, as it depends on the merchants’ needs. Anyone offering features that merchants require will be best for them.

Here are some features offered by Stripe

• An easy-to-integrate suite of payments products
• With a powerful and easy-to-use API, website owners can easily integrate without needing a developer.
• Customization options and a complete set of security features

There are many payment process systems available in the market. So, continue reading, and you will find the best stripe alternatives for your business.

9 Best Stripe Alternatives

1. Square

In 2009, Jim McKelvey and Jack Dorsey launched Square. It’s an American digital payments and financial services company based in San Francisco. In 2021, Square changed its name to Block Inc.

Square is a popular payment processor with a free POS system that can work with stores, restaurants, retailers, salons, spas, and many other industries. Also, they offer an integrated mobile app and online store for product selling. They help you grow your business as they also offer loyalty plans, marketing, and payroll systems. 

Features

• Real-time reporting, analytics, and Invoice tracking
• Inventory management with daily stock updates and digital receipts.
• Integrated payment processing with Square API.
• Employee management, fraud prevention, dispute management, email marketing, SMS marketing, and payroll system.

Pricing

2.6% + 10 cents for every swiped (magstripe cards) payment, tapped (mobile payments), and dipped (chip cards).

2. PayPal

Peter Thiel, Max Levchin, Yu Pan, Ken Howery, and Luke Nosek founded Paypal in December 1998 in California, United States. 

PayPal is a multinational fintech company that offers an online payment system that supports online money transfers from most countries. It is an electronic alternative to traditional paper methods for money transfers such as money orders and checks.

Paypal accepts all kinds of payments, including bitcoin and credit cards. They offer easy-to-add buttons for an online store, websites, and social media platforms.

Features

• PayPal has its own POS software, Zettle
• Inventory, tracking, and barcode scanning.
• Highly effective encryption data technology against online fraud
• Pre-built templates, customization for invoices, and easy integrations make PayPal among the best stripe alternatives.

Pricing

• Card-present fee: 2.29% + 9 cents
• POS fee: $0
• Online transaction fee: 3.49% + 49 cents
• Keyed-in fee: 3.49% + 9 cents
• International Transaction fee: 1.5% fee, 4% spread for currency conversion
• Cryptocurrency fees: 1.5%–2.3%, depending on amount $25 and over, 50 cents for purchases under $25 
• Card reader: $29 for the first time; $79 for additional
• Chargeback fee: $20
• Dispute fee: $15

3. Razorpay

Shashank Kumar founded Razorpay in 2013, Headquartered in Bangalore, India. Razorpay is an Indian fintech company that allows businesses to accept, process, and disburse payments with their product suite.

Razorpay can accept payments from credit cards, debit cards, mobile wallets, UPI, etc.

Features

• Supports all major credit and debit cards, UPI, 50+ net banking, and popular wallets.
• Powerful and lightweight Android and iOS SDK
• Powerful dashboard to access and manage every payment.
• Responsive cross-platform payment form, easily integrated by using a single line of javascript code.

Pricing

• The standard plan is designed for Startups, Small and Medium Enterprises, where 2%* GST is applicable. And for, Diners & Amex Cards, EMI (Credit Card, Debit Card & Cardless), International Cards, & Corporate (Business) credit cards 3% GST will be charged.
• For the Enterprise plan custom pricing is available.

4. PaymentCloud

Shawn Silver founded PaymentCloud in 2015, headquartered in Encino, United States.

PaymentCloud is among the best merchant service providers for simple, scalable, and secure payment processing services. That allows retailers and eCommerce businesses to streamline payment operations.

PaymentCloud will also handle data integration into your CRM, POS solutions, accounting software, and more. On the other hand, Stripe leaves this process to your team. Unlike others on our list, PaymentCloud offers a wide range of POS systems and hardware, while Stripe’s offerings are far more limited.

Features

• PaymentCloud supports high-risk sales, while Stripe does not.
• Charges an extra monthly fee to use their payment gateway.
• Stripe and PaymentCloud impose a chargeback fee, while PaymentCloud is slightly more expensive.
• Same-day payouts without an additional fee.

Pricing

Pricing information is not available. Contact them for pricing.

5. 2Checkout (Verifone)

Guillaume Pousaz founded 2 Checkout in 2000. Its headquarter is in San Jose, California, United States.

2Checkout.com is an American multinational company providing an online payment processing service that helps you accept debit cards, credit cards, and PayPal payments. 

2Checkout is now Verifone which offers consumer-facing, merchant-operated, and self-service payment systems for financial, hospitality, petroleum, government, retail, and healthcare industries. 

They provide POS electronic payment devices with high-end security, encryption, and certified payment software, designed for consumer-facing and unattended environments.

Features

• Recurring billing, multiple payment methods, eCommerce integration, account updater 
• Customised subscription plans and custom checkout options.
• PCI data security standard

Pricing

• 2SELL: Simple way to sell globally 3.5% + $0.35 per sale
• 2SUBSCRIBE: Develop & boost subscription business 4.5% + $0.45 per sale
• 2MONETIZE: All in one solution for digital goods sell globally 6.0% + $0.60 per sale

6. Authorize.net

Jeff Knowles founded Authorize.net in 1996. Headquartered in American Fork, United States.

Authorize.net is a payment gateway service provider that allows merchants to accept eCheck and credit card payments through their websites.

Authorize.net runs the interface for the payment process but doesn’t necessarily provide the account needed for accepting payment. Unlike Stripe, Authorize.net must be used with a third-party merchant account, 

If you’re primarily an online business, but want to accept payments in person once in a while, you can choose authorize.net, a virtual terminal that allows you to do so.

Features

• 13 different configurable fraud filters you can use based on your concerns.
• A virtual terminal that accepts payments over the phone or in person.
• Supports payment from credit card, Apple Pay, PayPal, and E-check. 
• Free mPOS app to check transaction history, perform voids/refunds and change settings.
• Developer center with an all-suite of tools including SDKs, APIs, and documentation, these features make Authorize.net among the best stripe alternatives.

Pricing

• If you don’t have a merchant account, they have an all-in-one option with no setup fee, a monthly gateway of $25, and 2.9% + 30 cents per transaction. 
• A payment gateway-only option with no setup fee, a monthly gateway of $25, and a daily batch fee of 10 cents per transaction.

7. AmazonPay

Amazon Pay is an online payments processing service developed by Amazon. Launched in 2007, headquartered in Seattle, Washington, United States. They use amazon.com consumer base and offer users to pay on external merchant websites using their amazon accounts.

Amazon pay is easy to set up and integrate into the website. It offers above-average fraud protection that saves your extra security cost.

Features

• Inline Checkout, users can enter and complete purchases without leaving the website
• Fraud Protection Technology
• Multiple Integration Options
• Amazon Seller Central to view reports, manage orders, and chargeback claims.

Pricing

• 2.9% processing fee + 30 cents authorization fee per transaction (for domestic US transactions)
• 3.9% processing fee + 30 cent authorization fee per transaction (for cross-border transactions)

8. Chargebee

Krish Subramanian and Rajaraman Santhanam co-founded chargebee in 2010. Headquartered in San Francisco, California, United States.

Chargebee is a cloud-based payment system powering end-to-end recurring billing, one-time billing, billing as per usage models, subscription management & auto invoicing for more than 2000 SaaS businesses.

Chargebee allows you to combine one-time, recurring, and usage-based pricing models easily. 

Features

• Invoice management, invoice processing, Drip marketing, email notifications
• Billing & invoicing, automatic notifications, activity dashboard, cost estimation, and credit card processing. 
• Multi-currency & language, Real-time data/analytics/notification, Revenue calculation.
• Customised – branding, reporting, discount management, and templates 

Pricing

• Launch plan: $0/month for the first $100k in revenue with 3 users
• Rise plan: $249/month includes $600K/yr revenue and 0.6% of overage revenue with 10 user
• Scale plan: $549/month includes USD 1.2M/yr revenue 0.75% of overage revenue with 25 users
• Enterprise plan: Custom pricing; contact them to know more.

9. ShopifyPayments

Shopify launched ShopifyPayments in Aug 2013. It is the default integrated payment gateway for Shopify stores. Shopify Payments allows the easiest ways to accept online payments. It eliminates the setting up of a third-party payment provider or merchant account. 

As soon as you create your Shopify store, you are automatically good to accept payments from all major payment methods. 

ShopifyPayments uses Stripe technology; thus, they have the same payment processor. However, ShopifyPayments is a more merchant-friendly platform than Stripe; it can be fully integrated into your Shopify store dashboard.

Features

• Accelerated checkout button (Apple Pay, Shop Pay, PayPal, Google Pay)
• Payment and order tracking with a live dashboard
• Payment data encryption, Secure checkouts, and PCI-compliant servers enable customers to make fearless transactions.

Pricing

• Basic Shopify charges 2%
• Advanced Shopify charges 0.5%
• Shopify plan cuts 1%
• Free users have to pay for each transaction.

Conclusion

Finding a payment processing platform that resonates with your online website is difficult. Still, I hope this post provides enough information to choose the best stripe alternatives for your business. Let me know which of the above grabs your attention in the comment section, and do share this post with your peers who want to integrate a payment processing system into their website.