Stripe is a payments processing company that offers digital financial solutions for businesses around the world. Notably, Stripe supports Apple Pay, which lets customers authorize payments with Touch ID without having to manually enter card or shipping details. Stripe’s services are available to big merchants and sole proprietors alike.
What Are Stripe’s Transfer Fees?
- When funded with Apple Pay, a credit card or debit card, transactions have a fee of 2.9% plus $0.30.
- When funded with a bank account, transactions have a fee of .8% unless the payment amount exceeds $625, in which case the fee is capped at $5.
- When currency conversion is required, Stripe does not charge a foreign transaction fee. However, Stripe does convert funds at a rate that's approximately 2% higher than the daily mid-market rate.
How Fast Are Stripe's Transfers?
Transfers take place on a routine basis depending on your preferences.
- Transfers can arrive in your bank on a rolling basis every two days.
- Transfers can alternatively be set to arrive on a weekly or monthly basis.
Founded in 2010, Stripe is based in San Francisco, California, and has nine global offices. The company works with businesses in 25 countries and processes billions of dollars a year in transactions. Stripe has received around $450 million from investors, which include Sequoia Capital and Andreessen Horowitz in addition to PayPal co-founders Peter Thiel, Max Levchin, and Elon Musk. Stripe has an A+ rating with the BBB.
Who Can Benefit From Stripe?
Stripe serves all kinds of businesses from Fortune 500 companies to new start-ups. If you’re a business owner with some sort of an online marketplace and you need a way to collect or make payments, Stripe can probably help. Since the company even offers Apple Pay integration, customers are well equipped with convenience and security. Stripe’s services are trusted by many well-known brands including Twitter, Kickstarter, Shopify, Salesforce and Lyft.
What Are The Advantages and Disadvantages Of Stripe?
This is what we love about Stripe:
- Stripe supports Apple Pay integration for increased customer satisfaction.
- Fees are competitive.
- Domestic and international transactions are possible.
- Stripe’s dashboard makes it easy to track and manage transactions.
What We do not Like About Stripe:
- Unlike PayPal, Stripe doesn’t offer digital wallet services for individual consumers.
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