Is‌ ‌Stripe‌ ‌Safe‌ ‌To‌ ‌Use?‌ ‌Check‌ ‌It‌ ‌Out‌ ‌Before‌ ‌Using‌

Almost everyone who does transactions online knows about PayPal. But I bet you’ve been hearing more and more about Stripe as the platform continues to gain more popularity. In this article, you’ll be learning about the hottest payment processor in town, Stripe, and how it compares to PayPal. 

Stripe is very safe to use as it is a PCI Service Provider Level 1, which is the highest level of certification available in the payments industry. This means all your financial information are sent safely and securely to Stripe.

There is also Stripes’s Radar which will automatically detect and block fraud. This is especially important to businesses that accept payments online as the Radar will help avoid chargebacks and unnecessary problems. 

Who is Stripe best for?

Stripe may seem simple on the surface but the platform has a wide variety of tools that makes it a powerhouse for those who know how to use them. To use Stripe’s payment platform, you’ll use the APIs. I also like that Stripe allows developers to customize their storefront and billing features. Being a third-party payment processor, Stripe gives you almost instant access to processed payments. 

Overall, Stripe’s tools are powerful and easy to use and their feature-rich service means merchants can create a robust presence online. Below is the category of people that Stripe is best for:

Businesses with on-staff developers: The truth is that businesses will need to either have an on-staff developer or developer experience to tap into the full potential of Stripe. There is also the option of using any of Stripe’s third-party partners for API customization. However, this may turn out to be too expensive at times and make it not worth your while. 

Global commerce merchants: You can accept payments from any of the over 25 countries where Stripe is currently supported. Stripe’s currency conversion also means you can easily convert one currency to another. 

Businesses presenting a low fraud risk: Since Stripe is a third-party processing service, it’ll automatically approve accounts for many businesses. However, businesses presenting a high fraud risk are at risk of account cancelation. This makes businesses presenting a low fraud risk ideal for Stripe. 

Reasons Why We Like Stripe

Easy to set up checkout right on your website: It’s easy for businesses to embed payment forms directly on their sites and even customize the forms to make things easy and straightforward for customers. This is convenient than using an external link to a payment site. They can also customize the forms to make the payment flow simple.

Consumers can pay on multiple devices: This is one of the reasons behind the popularity of Stripe. Consumers can easily access payment forms on multiple devices – smartphones, laptops, and tablets. There is also the option of initiating one-tap option on mobles and this will safely and securely save your payment information making payments easier in the future. 

Accepts many major credit cards and contactless payments: Stripe supports several major credit cards as well as contactless payments. 

Transparent pricing: I particularly like this about Stripe. The pricing options are right on their site, no hidden fees, and no charge-up fees. 

No early termination fee: Stripe allows you to easily cancel the Stripe service at any time. So if you don’t like the Stripe service, you can easily cancel it at any time without paying an early termination fee. Also, Stripe will even help you to export all your saved data so you can use it elsewhere. 

Customizable API: You can easily customize Stripe’s API to meet the unique needs of your ecommerce company’s needs. You don’t have to sync with any third-party apps or pay any monthly fees for this service.

Accept recurring payments: It’s easy for businesses to offer recurring payments/subscription options. The enticing thing is that they can even offer as many subscription options as they want without having to pay extra charges. And customers will find the subscription service easy to use. They can even make changes to their payment details without the businesses having to intervene. 

Offers high level of security: As I said in the opening paragraph, Stripe offers Level 1 certification which is the highest in the payment industry. And this helps keep the data of businesses and their customers safe and secure. There is also the option for two-factor authentication to help prevent unauthorized access and fraud. , ensuring that your company and your customer’s data is secure. They also give the option for two-factor authentication to help protect the private information in an attempt to prevent fraud.

Is Stripe safer than PayPal?

Both Stripe and PayPal are known for their excellent security history as both take security seriously, very seriously. But when it comes to choosing the platform with the best security features, Stripe edges PayPal here. The killer security feature Stripe possesses was Stripe.js. Using Stripe.js on your website means that all credit card data entered into your payment form will never be sent to your server. The reason for this is to prevent your data from becoming accessible should there be a breach on your servers. Instead, the information is sent to Stripe. 

PayPal’s security too has improved over the years but it is still not at the same level as Stripe’s. Overall, Stripe.js helps developer maintains good security decisions. 

	Stripe	PayPal
Good For	Online businesses; Customized checkout experience	Accepting Paypal payments; Small businesses with average transaction under $100
Transaction fees	2.9% + 30¢	2.9% + 30¢
Chargeback	$15	$20
Advanced Fraud Protection	Free	$10 / month
Recurring Billing	Free	$10 / month