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Stripe is a payment service from the USA, one of the most popular in the world. It is known for its simple terms for conducting international payments and is the most valuable private startup in the world. A range of advantages helped achieve this success, which we will discuss in this article.
What Is Stripe?
Stripe is a system for secure online payments. It helps easily set up online payments on your website. Among the system’s clients are giants like Google, Samsung, Amazon, Ford, and others. But don’t worry if your business is far from the market leaders; the company is happy to work with everyone.
Stripe allows you to set up payment acceptance on your website in just 10-15 minutes. The maximum simplicity of integration and settings, combined with security and protection, has allowed the company to achieve tremendous success.
Features And Advantages Of Stripe
One of the foundations of Stripe’s success is its vast range of features:
- Interaction with many digital wallets, such as Apple Pay and Google Pay;
- Support for payments with Visa, MasterCard, and American Express cards;
- The possibility of credit (installment payments);
- Conducting recurring payments;
- Quick and easy integration with any CMS;
- Automated report generation and personalized receipt function;
- The ability to block funds for future payments for up to a week;
- A very convenient payment window that does not require registration or redirection to other pages;
- An advanced fraud protection system to assess transactions for suspicious activity;
- High transaction processing speed.
Besides the software for money transfers, Stripe offers the possibility of creating your own online cash register for accepting payments in offline stores, as well as card issuance.
We recommend that you also read our article – How Does The Google Pay App Work, And How Can You Make Payments Using Google Pay?
How Does Stripe Work?
Stripe is one of the most convenient payment systems for business owners. The process works approximately like this:
- The company creates an account and uses Stripe’s software to connect online payments to the website.
- The client makes a purchase and enters their financial information on the payment page.
- The client’s data is sent through a secure gateway to Stripe.
- The availability of funds in the client’s account is checked, and the transaction is processed.
- The money reaches the Stripe account.
- Funds are transferred to the seller’s account.
You can set up withdrawals to receive funds not for each purchase but with some regularity. Many companies choose to transfer sums every two weeks or monthly.
How To Connect Stripe?
If you look into the reasons for Stripe’s popularity worldwide, one of the main ones is the very simple connection procedure. Almost everything can be done independently or with minimal involvement of specialists. To connect, follow these 4 simple steps:
- Create a Stripe account. During registration, you need to provide your full name, email, country, and come up with a reliable password.
- Activate the account. Provide full information about your business – its registration, and banking details. The service will offer a form to fill out. Don’t worry; it’s not large and won’t take much time.
- Install Stripe using API keys available in the account settings, or a plugin. The second option is a very convenient solution for popular CMS. You can install the plugin yourself by following the prompts.
- Enter your banking details in the account settings. Explore the possibilities and set up a convenient payout schedule.
What Are The Prices For Stripe Services?
Stripe offers its clients two tariff plans:
- Standard: allows using the system for free, without any hidden fees, paying for each transaction 2.9% + $0.3 of the amount.
- Custom: available only to large companies with significant transaction volumes. Clients receive personalized offers. Their specifics may vary in each case.
What Is Stripe And How It Works – Video
For more up-to-date information about the Stripe service, watch the video:
Conclusions
The American payment system Stripe is one of the safest in the world and the most convenient for business. It easily integrates with various CMS and offers a wide range of features. Users love this system for its simplicity and reliability.
Frequently Asked Questions About Stripe
The service has the highest level of certification available for payment systems – PCI Level 1. It is extremely secure.
To connect Stripe to your site, use API keys or a CMS plugin. You can get them in your account.
Yes, Stripe allows creating recurring payments.
There may be limits on payment amounts in Stripe, especially for new accounts and suspicious or very large transactions.
Eddy Coherent is a finance expert with extensive experience in the industry, known for his deep understanding of financial markets and strategies. He shares his expertise on the WeaveMoney portal, where he translates complex financial concepts into actionable insights. Eddy's contributions are valued for their clarity and precision, helping readers make informed financial decisions.