Saturday, 23 June 2018 15:35

Stripe Payment Processing Review

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Stripe Payment Processing Review

I have been accepting payment via PayPal for over 5 years through my website.  I recently decided to start offering “real” credit card processing options and want to share my findings.

First, PayPal Pro turned out to be a real nightmare.  I’m actually still waiting on PayPal to “grant me access” to the account that I tried to set up.  I was going to use PayPal Pro’s “recurring payment” option too, which opened another can of worms.  After speaking with a few of PayPal’s tech support agents, I learned that PayPal Pro has a V2 and V3 variation.  They started using technical jargon, telling me about DPRP vs. Payflow Pro, different monthly charges based on whether I was on a V2 or V3 account, and other noise.  

My solution was to open a Stripe account, which I did while I was on hold with PayPal.  I was actually able to activate my Stripe account, connect it to my business checking account, and generate API keys to use on my website... all in a matter of minutes.  Stripe’s fees are simpler, too.  No monthly fees - just pay as you go.  And Stripe's transaction fees are comparable.  

Last, the Stripe API is much more powerful than PayPal’s API.  For example, I can allow a client to keep a credit card on file in Stripe’s system, and then update the card on file from my website.  PayPal doesn’t even offer this capability; the only way to do this with PayPal would be for a client to call me and I manually enter their new card into PayPal.   

Read 874 times Last modified on Friday, 06 July 2018 14:57
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