Major Props for Stripe
August 24, 2018
Major Props for Stripe
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Stripe
Stripe is currently being used by a couple of select departments in our organization. They use it mainly for processing donations, processing payments for services, and processing payments for the sale of electronic materials. As the accountant, I like it because the credit card processing fees are taken out at the time the payments are sent to the bank.
Pros
- Process payments
- Clear reporting
- Deduct credit card fees when sending payments to bank
Cons
- Better ability to print reports
- Ability to see longer-range reports
- Year-over-year comparisons
- Positive - Easily track income received
- Negative - no way to indicate on the reporting if the income was a donation or payment for product received
- Positive - increased number of donations and sales overall
Compared with iATS Payments, Stripe has cleaner reporting and is very straight-forward. One benefit to Stripe is that it takes out the credit card fees at the time it sends the payments to the bank. iATS Payments does not do this (except for Discover cards) - credit card processing fees are taken out at the end of the month, which can lead to inaccurate amounts at times. Stripe is much more accurate in this area.
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