Credit Card Processing Solutions
Top Companies in 2024
PayPal vs Stripe
Press [Add to Compare] to Edit, Add or Remove Vendors
- Global accessibility
- Versatile payment acceptance
- Seamless integration capabilities
- Effortless online setup
- Mobile and contactless payment solutions
- International credit card processing services
- No monthly fees
- Affordable and portable chip reader
- Cross-border payment options for 50+ countries across 135+ currencies
- Transparent prices and fees
- Extra charges
- Account freezing by PayPal
- Absence of free hardware
- Reports of frozen funds and deactivated accounts
- Lack of transparency on high-risk cases
- Have to pay for "premium" support
PayPal, a powerhouse in online payment solutions, has etched their mark as a global leader since they were founded in 1998. Headquartered in San Jose, California, the company has become synonymous with reliability and innovation, catering to both individuals and businesses. Renowned for their commitment to security, PayPal offers a suite of services, including customizable payment gateways (PayPal Payments Pro and Payflow), a user-friendly POS system (Zettle), and versatile APIs for online and in-person transactions. The platform's emphasis on transparency shines through in their pricing model, ensuring users have a clear understanding of the fees associated with various services. PayPal's diverse payment acceptance, from digital wallets to card transactions and API tools and integration capabilities, position them as an ideal choice for businesses of all sizes seeking quick, secure, and adaptable payment processing. PayPal shines with their global payment processing, catering to enterprises, providing next-day funding and swift currency conversions. While positive customer reviews highlight the platform's reliability, security, and seamless integration capabilities, the varied experiences on review platforms such as G2 and Trustpilot underscore the importance of exploring individual business needs. With an A-rated BBB profile, PayPal demonstrates a commitment to customer satisfaction.
Stripe is a merchant services provider that offers payment processing solutions for businesses of all sizes. They offer both merchant accounts and related services, including payment gateways, online transaction processing, point-of-sale (POS) systems, and credit card readers. Stripe is a payment processor that allows business owners to accept payment from a variety of methods or sources, including mobile wallets and "buy now, pay later" services. The company offers lots of additional services, including billing, invoicing, and sales tax automation. Stripe is renowned for its straightforward pricing model, where a flat rate is charged per transaction. It is a preferred option for businesses that predominantly operate online, as its distinctive features are primarily tailored toward enhancing online sales. Stripe is accredited with the BBB and has an A+ rating with them, but they have an average review score of 3.1/5 on Trustpilot. Their website offers two service options: an integrated "pay-as-you-go" plan that charges 2.9% +30¢ per card charge or a customized plan that involves interchange-plus pricing for businesses with higher volumes. Prospective clients must contact sales to discuss pricing for the latter plan.
- Transaction Speed : 3 to 5 business days
- Customer Experience : Good
- Money-Back Guarantee : False
- Gift Cards : Undisclosed
- Real-Time Reports : Available
- Transparent Pricing : Available
- Pricing Model : Interchange plus
- Trustpilot Score : 1.3 out of 5
- BBB Rating : A
- Transaction Speed : 24 hours
- Customer Experience : Good
- Gift Cards : Available
- Real-Time Reports : Available
- Transparent Pricing : Available
- Pricing Model : Interchange plus; separate feature rates & charges
- Trustpilot Score : 2.8 out of 5
- BBB Rating : A+
- Diverse payment methods
- API tools and integrations
- Reporting & Analytics
- Installment payments
- POS system
- Invoicing
- International credit card processor (50+ countries)
- Extensive related services & features
- Affordable and portable chip reader
- Targeted solutions for startups & specific industries
- Billing & Invoicing
- Electronic Receipts
- Free Hardware
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- Billing & Invoicing
- Electronic Receipts
- Free Hardware—Undisclosed
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- Annual Subscription
- Free Trial
- Freemium
- Monthly Subscription
- One-Time License—Undisclosed
- Annual Subscription—Undisclosed
- Free Trial
- Freemium—Undisclosed
- Monthly Subscription—Undisclosed
- One-Time License—Undisclosed
- Processing Services
- Accounting Software
- POS
- Productivity Software
- Processing Services
- Accounting Software
- POS
- Productivity Software
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature—Undisclosed
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- Demos
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets—Undisclosed
- Demos
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets
Stripe vs. PayPal
Choosing the ideal Credit Card Processing Company (CCP) is essential for business success in the evolving world of electronic payments. Stripe and PayPal are two industry giants that stand out, each emphasizing distinct facets of credit card processing. This comparison aims to clarify the differences between the two companies, aiding businesses in making an informed decision tailored to their specific needs.
Value-added benefits
Both Stripe and PayPal offer valuable features for credit card processing, with key distinctions. Stripe excels in seamless integration for businesses heavily reliant on online sales, allowing direct integration into websites and customization of the checkout gateway. It provides real-time transaction monitoring, multi-currency support, recurring billing, and effective chargeback management.
In contrast, PayPal offers easy setup, surcharging, and invoicing capabilities and supports multi-currency transactions. Both platforms provide booking and reporting features, ensuring efficient transaction management. The choice between Stripe and PayPal depends on the business's emphasis, with Stripe being well-suited for those prioritizing online sales and customization.
Usability
PayPal and Stripe present distinctive advantages in terms of credit card processing usability. Designed for small businesses, PayPal stands out with its user-friendly interface, providing an easy setup that doesn't require advanced technical knowledge. On the other hand, Stripe caters to larger enterprises, offering a customizable checkout process that integrates seamlessly with shopping carts but requires some developer expertise. While PayPal excels in simplicity and accessibility, Stripe appeals to businesses seeking extensive payment customization and international capabilities.
Level of data security
Both PayPal and Stripe are committed to ensuring a high level of data security in credit card processing. They implement robust security measures to protect customers' financial information during transactions, including PCI compliance, data encryption, two-factor authentication, and access control. Stripe goes a step further with additional features such as Stripe Radar, enhancing its security measures. Despite PayPal's popularity making it a more common target for fraud, both platforms provide a solid commitment to data security in credit card processing, with Stripe offering extra protective measures.
Pricing
Both PayPal and Stripe offer competitive payment processing rates but with differences in their fee structures. Stripe generally has lower credit card processing rates at 2.9% plus $0.30, while PayPal's rates range between 2.59% and 3.49% plus $0.49. Notably, PayPal charges an extra 1.50% for international transactions, whereas Stripe adds 1% for international cards and an additional 1% for currency conversion if required. Stripe offers flexibility for customization, making it suitable for businesses seeking tailored solutions, while PayPal is user-friendly and better suited for smaller companies without extensive developer knowledge. Consider these distinctions based on specific requirements when deciding between PayPal and Stripe for credit card processing.
Takeaway
The choice between Stripe and PayPal is crucial for businesses seeking optimal credit card processing. Stripe excels in seamless online sales integration, offering customization, real-time monitoring, multi-currency support, and effective chargeback management. In contrast, PayPal prioritizes user-friendly features with support for multi-currency transactions. Both platforms uphold robust data security standards, with Stripe employing additional security features like Stripe Radar. While Stripe generally offers lower rates, PayPal's user-friendly interface makes it suitable for smaller businesses.
Save Big on Credit Card Processing
Fill out a quick form to claim special offers on Credit Card Processing
