Stripe vs Paypal: Which Should You Choose? Are There Alternatives?

There are a lot of different factors that go into choosing the right payment service. And while there are some similarities between Stripe and PayPal, there are also some key differences to take into consideration.

Stripe is an online payment processor like PayPal. It has a few advantages over PayPal such as more favorable rates for merchants and faster processing time for transactions. But on the other hand, Paypal offers a wider reach and more options when it comes to

Which is best for you?

The best payment service for you is going to be dependent on your specific needs. For example, if you’re a small business and only need a few different features, Stripe may be a better option. But, if you have a larger business with many payment options and international sales, PayPal might be the better choice for you.

Pros and Cons of Stripe and PayPal

Stripe has a few advantages over PayPal:

• Stripe offers more favorable rates for merchants, which means it’s more affordable to process payments with them.
• They also offer faster processing time for transactions, which is an important factor if you’re an entrepreneur.
• You can speak to a live person when you call customer service at Stripe.

PayPal has some advantages over Stripe as well:

• With Paypal, you have options to send and receive money through their services, which includes being able to transfer funds to bank accounts or other people.
• It’s easier to reach customer support because there are multiple channels for contact, including email and phone—whereas Stripe only offers email support.

Alternatives to Stripe and Paypal

There are a number of providers that offer online payment processing. Some of the most popular alternatives to Stripe and PayPal include:

1.   SecurePay

SecurePay is a payment option that you can use to pay for your purchases online, over the phone, and in-store without sharing your personal or banking information. SecurePay uses Advanced Encryption Standard (AES) to encrypt all of your personal information including addresses, credit card numbers, and passwords. It is the preferred eCommerce payment gateway!

2.   Braintree

Braintree is a subsidiary of PayPal that offers mobile payments, e-commerce, and digital wallets. It’s one of the best options for companies with an e-commerce presence because it integrates seamlessly with apps like Magento and Shopify.

3.   Square

Square is a mobile payment service provider that focuses on small businesses and provides credit card readers for sale or rent. It also provides a POS system for merchants without a brick-and-mortar location or those that want to accept payments from their mobile devices.

4.   Payoneer

Payoneer is similar to Stripe in that it’s an international payment company that can be used by businesses around the world to process transactions in over 200 countries and territories around the world with minimal hassle or cost.

Conclusion

It’s hard to make the decision about which service is the better option for your business because there are so many aspects to consider. You may even feel like you’re in an impossible situation. The best way to choose your ideal payment service is to look at your particular eCommerce business needs.