Overall Satisfaction with Stripe
Stripe is our credit card processing tool, which we use to collect customer payments. We've previously had a credit card processing machine to process the few credit card transactions we make, but it got to a point where the fees associated with this machine no longer made economical sense, therefore we went searching for a web-based solution. Stripe integrates nicely with other services we use, so collecting online payments directly from our cloud-based accounting software is simple, and no more hardware to manage.
- Stripe integrates perfectly with our cloud-based accounting software, making collecting payments easy.
- The dashboard and UI are simple enough to log into and process card transactions via the phone.
- The reporting features are nice and also integrate into a BI platform we use to provide us with in-depth and accurate reporting of all credit card transactions we do.
- Their fees are reasonable and in line with their competitors.
- The UI is easy to navigate and understand, however if the homepage or dashboard was simplified it could make Stripe an even better solution than it is.
- Unlike some of it's competitors, it comes with no hardware to process transactions. Currently this is not an issue for the way we do business or run credit card transactions but as we grow and expand we may have a need for mobile-based hardware devices in the future.
- Although it's a competitive product, we'd welcome lower fees and quicker balance transfers to our main banking account from Stripe.
- Like any credit card processing services, the fees can add up, so this cost may need to be passed on to your customers. Most of your competitors are likely faced with this similar scenario, so they may have to up their prices too, but if not you could be at a competitive disadvantage amongst your competition.
- One advantage to collecting payments via credit card (Stripe) is we seem to sometimes get paid quicker compared to emailing or mailing an invoice.
- The product has integrated nicely into the other systems (payment gateways and accounting software) we use, increasing the value of the software for us.
It's well suited for businesses who wish not to have credit card processing machines and who use a cloud-based accounting software for easy payment collection. For a brick-and-mortar business who collects payments at time of service, you may be best suited to evaluate one of Stripe's competitors.