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.
Razorpay
Razorpay is an Indian fintech company that allows businesses to accept, process, and disburse payments with their product suite.
PayPal
PayPal is a multinational fintech company that offers an online payment system that supports online money transfers.
Authorize.net
Authorize.net is a payment gateway that allows merchants to accept eCheck and credit card payments through their websites.
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.
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
There are many payment process systems available in the market. So, continue reading, and you will find the best stripe alternatives for your business.
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.
Pros
Cons
2.6% + 10 cents for every swiped (magstripe cards) payment, tapped (mobile payments), and dipped (chip cards).
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.
Pros
Cons
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.
Pros
Cons
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.
Pros
Cons
Pricing information is not available. Contact them for pricing.
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.
Pros
Cons
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.
Pros
Cons
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.
Pros
Cons
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.
Pros
Cons
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.
Pros
Cons
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.
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