Online Payments Simplified – Stripe
Ever wonder how to get started accepting payments right from your website? We use a variety of methods to process and automate payments within our business, and we want to highlight some of these and a few tips and tricks to get started with them.
In this post, were going to outline one payment processor that we love to use; Stripe, now although not one of the “easiest” setups, it does come with some super powerful features depending on your needs and can help streamline the payment process for you and your business.
Getting Started with Stripe
To get started with Stripe is a super easy process, basically all you need in an account, some information about you and your business and best of all it’s all FREE. Well, mostly free. Stripe doesn’t charge you any monthly fees to use their service. Like most payment processors they make their earnings based on your transactions using their system.
For the most part, Stripe is a relatively cheap solution based on their processing fees. Under their Pay As You Go Plan all you pay is 2.9% + 0.30 per credit card transaction. Although this may seem high you need to keep in mind some processors charge upwards of 4% per transaction, this making Stripe a much more affordable solution for most small businesses just starting out in online business.
Stripe accepts a variety of cards to process payments, however, there are some that are considered “international cards” that do cost a little higher fee to process, these cards cost an additional 0.6% per successful transaction. However, major credit and debit cards such as Visa, MasterCard and American Express are all considered local cards and fall under the regular 2.9% + 0.30 per charge.
To get started with Stripe first you will need to visit their website at stripe.com then click the Sign In link in the top menu, at the sign in you will see the option to create an account. Fill in your details and register for free.
Once you are in your Dashboard you will need to proceed to the Settings menu, from there you will need to fill in and confirm the accuracy of the Account Details, Tax Details and Banking accounts and scheduling pages, all of these pages must be completed and verified by Stripe prior to being able to accept payments. Don’t worry they will let you know when you are good to go.
Overview of Stripe Features
Here are some of the features that you can utilize in your business using Stripe.
One Time Payments
Send an invoice for a single payment request, or host a purchasable product / service on your website for a single payment, automatically apply specific sales taxes (if applicable) and other fees in one shot and charge.
Reoccurring Payments / Subscriptions
Have a service or product that requires multiple payments each month, or reoccurring payments to pay a full balance in whole? Stripe can help by the creation of subscriptions and multiple payment options right from your website, or through direct invoicing right from the Stripe Dashboard
Does your business operate outside of your country? Stripe supports over 135 currencies, so finding your customers local currency is not a problem, this also helps to eliminate extra fees for your clients by billing in their local currency.
Stripe also supports integrations with Apple Pay and Google Pay, allowing your customers to quickly check out in your online store with their phones.
Stripe already has hundreds of integrations to allow for simple configuration of online payments. Making it easier then ever to get started. You can check out a full listing of their integrations here
We use Stripe in our business and have been for years. We can trust them with our finances and find them easy to use, as well as constantly releasing new features. If you are looking for an easy way to have online payment processing – check out Stripe today!
We are your partners in online business, not just your contractors. Your businesses success is our celebration, our accomplishment and most importantly our goal.
DrakeCo strives to work with you and your business to maximize its return in investment online, designing the ideal strategies to maximize reach within your market, we strive to work with clients on a long-term basis to continue to advance and simplify their online business.