Paypal and Stripe have emerged as two popular payment processors for the growing entrepreneurs. These developer-friendly solutions are incredibly easy to use and create a checkout that caters to the needs of all kinds of online businesses.
Both of them are integrated with innumerable features and therefore, selecting between them can be tricky. To make the smart financial decision, it is essential to understand how these platforms operate and which one suits your business requirements effectively.
Here, we have come up with a quick comparison between Paypal vs Stripe. Check out the same and make the right investment to manage your finances flawlessly.
Without further ado, let’s dig right in!!
Key Factors To Keep In Mind While Choosing Between Paypal vs Stripe
When it comes to choosing the payment gateway, it is essential to opt for the trusted solution that’s been proven to process payment securely and quickly. Both Stripe and Paypal satisfy are reliable platforms and assure smooth transactions.
However, this is not just the sole thing to keep in mind while making the choice. Let’s find out some other factors that can make or break the decision. Take a look!!
1. How far and wide Paypal and Stripe are?
If you are into a dropshipping business, your customer base will be definitely not confined by geographical boundaries. Therefore, you should opt for the payment processors that accept payments from almost all countries and in all currencies.
Stripe mainly operates in 42 countries and accepts payment in around 134 currencies. However, Paypal will let you conduct business in over 200 countries and processes payment in 25 currencies.
2. Fee Structure
The basic plans for both Stripe and Paypal are absolutely free with no sign-up cost. Just add the software to your Ecommerce website, create an account and you are good to go.
These platforms charge a certain amount of fee on every transaction. Pricing is almost similar for both processors; however, Paypal features a thorough breakdown of fees.
Both of them offer transparent pricing to the customers and boast no hidden charges. Stripe comes with a more simplified fee structure and is usually recommended if you don’t want to indulge yourself in a hassle.
3. Ease of Use
From a customer standpoint, Strips and Payment are integrated with the clean, intuitive user interface and are thus, simple to use. They both accept all standard payment types to facilitate the entrepreneurs.
While Stripe is a bit difficult to set up from the merchant’s perspective, Paypal is much more like plug-and-play.
4. Accepted Payment Types
Stripe accepts a massive array of payment types such as Credit Card, Debit Card, International Cards, ApplePay, GooglePay, WeChat Pay, AliPay, AmEx Checkout, ACH Credit and Debit.
However, Paypal somewhere lags behind Stripe in terms of payment types. It only accepts payment via Credit/ Debit Card, Pay by Phone, Paypal Cash, and Paypal Credit.
The Bottom Line
Both Stripe and Paypal come with their own set of ins and outs. Therefore, one should first learn to do business with Asia and make a choice that suits your payment acceptance needs.
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