Stripe provides a secure and flexible solution for processing online payments, making it attractive to many businesses, regardless of their size or industry. If you are planning to become a Stripe customer or are considering using this payment system for business, then this article is for you. You’ll learn about the benefits of Stripe, and understand how it can be used together with the money exchange Rates service to improve your online shopping experience.

What Is Stripe?

Stripe is a multifunctional international payment platform perfect for e-commerce and cross-border sales. It provides a high degree of payment protection, offers a wide range of up-to-date payment methods, and guarantees convenience for both sellers and buyers.

For entrepreneurs, Stripe offers:

• convenient generation of reporting (income, fees, returns, etc.);

• the ability to accept payments in different currencies;

• functional tools that allow you to set up online payment in an online store and a reliable payment gateway;

• the ability to use the funds received half an hour after the transaction – the instant payout option is responsible for this;

• billing and dispute resolution functionality.

Stripe has no monthly subscription fee, which makes the system more popular among users. Registering a merchant account is also free. As for the fees for online sales using the Internet acquiring functionality or digital wallets, you will have to pay for each transaction at a rate of 2.9% + 30 cents.

There is also a commission fee of 1% – it is charged for currency conversion and international financial transactions. 1% of the payout amount with a minimum commission of 50 cents per transaction will have to be paid extra for the opportunity to receive instant payouts.

Today, residents of more than 47 countries, including the USA and Europe, can register with Stripe and use their account.

Basic Stripe Features

Stripe is a powerful tool for supporting online trading at a high level. The most significant functions of the system include the following.

Stripe Checkout

This function is responsible for changing settings (selecting a language, adapting to a specific device, etc.) on the order page, which makes the purchase process as convenient as possible for the user. It does not matter whether a subscription has been issued or a one-time payment has been made.

Stripe Payment Links

It is very convenient to receive payment for goods and services, engage in crowdfunding, and subscribe using payment links. And the Payment links function allows you to create them. Ready-made links can be distributed through different channels: sent via SMS or email, and published on social networks. It is also possible to track the receipt of payment.

Stripe Invoicing

Invoicing is used to issue invoices for both one-time and recurring payments, as well as to set up tax rates. Invoices can be created manually or via API. The latter allows you to apply additional settings, for example, a reminder to customers that the subscription payment period has expired.

Stripe Billing

Billing is a relevant tool for businessmen who often organize promotions. In addition, it allows you to accept any subscription payments (these can be one-time payments, recurring or multi-level).

Billing tools of the platform are presented in two plans:

• “Starter” – includes the functionality of the client portal and auto collection, charges 0.5% for making regular payments;

• “Scalable” – uses the Stripe Connector functionality to integrate NetSuite beyond the “Starter” package and charges 0.8% for recurring payments.

Stripe Radar

The Radar service is in fact an advanced anti-fraud system whose task is to prevent fraudulent activities. Thanks to 3D Secure technology, which uses hundreds of different filters, and the ability to learn, Radar allows you to predict the likelihood of fraudulent transactions.

Benefits Of Stripe

The Stripe payment system has many advantages. If you are used to the benefits provided by giants JPMorgan Chase or Aetna, then Stripe will definitely not disappoint you.

1. Stable acceptance of international payments.

Stripe allows you to receive payments from all over the world in 135 currencies, works with Google and Apple Pay mobile wallets, as well as bank cards of various systems: Visa, American Express, MasterCard, Discover, etc. It is noteworthy that Stripe supports USDC cryptocurrency, although it does not support Bitcoin and Вinance Coin.

2. Possibility of instant access to funds.

The Instant Payouts feature, which costs extra to use, allows you to instantly receive funds by sending money to a bank account or debit card. This allows you to use your finances more efficiently, and in the basic package, the transfer to your account takes up to seven business days.

3. Unified control panel.

Provides ease of management of permissions, processes, functions, and tools, including using mobile applications for iOS and Android.

4. Dispute management.

One of the main advantages of the system is the automation of the dispute management process. This means that the platform will automatically provide evidence of disputed payments and will monitor the development of the situation regarding a specific dispute (if you lose, you will have to pay $15).

5. Advanced features for developers.

Stripe is a godsend for developers, as the system provides a developer panel with more than 450 effective tools. Using them, you can integrate with virtually any service, which will expand the functionality of the project.

6. Data security.

The protection of information and the prevention of data leakage is ensured by the PCI Service Provider Level 1 certificate. Thanks to it, all payment data is encrypted. Although no payment gateway existing today can guarantee 100% security, the Stripe platform is closer to the ideal in this regard than others. TLS (SSL) and encryption functionality are included in the base package and built directly into each account.

Wrapping It Up

Online shopping allows people to buy goods and services from the convenience of their home or place of work, without having to physically visit stores. This saves time and effort. If you want your shopping to be economical, we recommend using the Rates service, which provides up-to-date data on currency exchange rates at financial institutions in Ukraine. The service is available around the clock, no matter where you are in sunny Los Angeles (California) or rainy Seattle (Washington).