Stripe - The Ideal Payment Processor for Nonprofits
January 28, 2020

Stripe - The Ideal Payment Processor for Nonprofits

David S. Levine, CFRE | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Stripe

Stripe is used as our primary payment processor for credit cards and ACH/EFT payments or donations (as the back-end processor for both BidPal and Give Lively platforms we are using). It is used by our development, management, and finance departments - development to process gifts, management for reporting, and finance for reporting and reconciliation. It is a good back-end processor that offers very competitive rates to nonprofits with an easy system for getting those rates.
  • Ease of processing
  • Integration with Salesforce
  • User friendliness
  • Settings to collect data (we want to get addresses that are being collected by the cc payments anyway).
  • Lower credit card processing fees (positive)
  • Easier reconciliation reporting (positive)
We used to use Square, but they couldn't compete with Stripe's rates. Also, Give Lively only uses Stripe, so we decided to simplify our systems and use one processor.
I've only had to use their support once, and they were responsive and thorough the first time.

Do you think Stripe delivers good value for the price?

Yes

Are you happy with Stripe's feature set?

Yes

Did Stripe live up to sales and marketing promises?

Yes

Did implementation of Stripe go as expected?

Yes

Would you buy Stripe again?

Yes

Foundation Directory Online (FDO), Google Drive, Eventbrite
For nonprofits, their rates are unbeatable. Except for donation/payment platforms that claim to be free (they never are), Stripe's rates are the best (2.2% + $.30 for V/MC, 3.5% + $.30 for AmEx, cap of $5 fee for ACH/EFT/Bank Account). They also do offer a lot of reporting and integration options, which, if you can navigate them, are very helpful, particularly for finance and reporting. It's not as easy to set up what data is collected permanently from transactions, unfortunately, so don't count on Stripe for address collection, but for the rest, it is quite suitable for nonprofits.