There are many amazing selections of products, competitive prices, and some pretty successful marketing on your online store. However, you will be unable to pluck success from the e-commerce world until you have got one more thing right i.e. your payment gateway.
What do you mean by Stripe fees?
Stripe fees is an online payment service provider, sanctioning businesses to accept payments over the internet. This payment provider works with businesses of all sizes and is not restricted by product type.
What do you mean by PayPal?
PayPal is a payment gateway that authorizes the transactions between you and your customers. It is perhaps one of the most familiar payment gateways among consumers.
Stripe fees v/s PayPal
PayPal v/s Stripe fees are among the most prevalent comparisons when deciding on what payment processor to use to take payments online. Which payment processor does one need to use between these two? The only way to answer this question is to figure out your respective needs in important categories and then make a decision. In this blog post, we will tell you some of the noteworthy differences between these two i.e. Stripe fees v/s PayPal.
Cost per transaction – Stripe fees are substantially cheaper than PayPal, per transaction, unless you are mutilated up with advanced features. This efficacy does not seem like a very big deal if you are a small business with very low volume transactions. But it does not take very long for the cost differences to add up promptly.
Ease of use – One major difference between these two is the ease of use, which goes hand in hand with PayPal but not quite with Stripe fees payment processor.
Customizability – PayPal’s ease of use comes with some constraints because if you possess a developer, you can fine-tune or customize Stripe fees in ways that you might not be able to do with the PayPal payment gateway.
ACH Support – PayPal payment gateway does not come with ACH support while Stripe fees come with ACH support.
Point of Sale (POS) – Stripe fees and PayPal, both do not excel in point-of-sale transactions but surely, PayPal endeavors much more competent and mature point-of-sale options and that too, at a much better processing rate.
Digital wallet – Digital wallet is PayPal’s signature service which is intensely handy in its ways and rights while Stripe fees do not endeavor anything close to it.
The breadth of services – As compared to the usual payment processor, Stripe fees come with a bigger ecosystem than PayPal payment processor. It is also significant that PayPal has a different level altogether.
So these are some of the key differences between Stripe fees v/s PayPal.