Payment Processing, Features, and Implementation
Everything you need to know about Stripe - the developer-friendly payment platform powering the modern internet economy with diverse payment methods and powerful APIs.
What is Stripe?
Stripe is a comprehensive technology platform that builds economic infrastructure for the internet. Founded in 2010 by Irish brothers Patrick and John Collison, Stripe provides businesses of all sizes with the tools they need to accept payments, manage subscriptions, send invoices, and handle virtually every aspect of their financial operations.
Unlike traditional payment processors, Stripe was built specifically for developers, offering robust APIs and extensive documentation that makes it possible to create completely customized payment experiences. From startups to Fortune 500 companies, businesses choose Stripe for its reliability, security, and flexibility.
How Stripe Works
Stripe operates as a payment service provider (PSP) that allows businesses to accept payments online. It handles the complex aspects of payment processing including security, compliance, and bank settlements, while providing businesses with a simple integration process.
Setting Up a Stripe Account
Getting started with Stripe is straightforward:
- Visit the Stripe website and click "Start now"
- Create an account with your email address and password
- Provide business details (name, address, type of business)
- Add bank account information for payouts
- Activate your account by verifying your email and identity
- Integrate Stripe into your website or app using APIs, SDKs, or pre-built solutions
Key Stripe Statistics
- Processes hundreds of billions of dollars annually
- Available in 46 countries with ongoing expansion
- Supports 135+ currencies
- Powers millions of businesses worldwide
- Over 90% of adults in supported countries have made purchases through Stripe
Stripe's Core Products and Features
Stripe offers a comprehensive suite of products beyond basic payment processing:
Payments
Accept online and in-person payments with support for credit cards, digital wallets, and local payment methods.
Billing
Handle recurring billing, invoicing, and subscriptions with advanced revenue recognition capabilities.
Connect
Build marketplaces and platforms that need to facilitate payments between multiple parties.
Issuing
Create physical and virtual cards for business expenses, payouts, and customer incentives.
Radar
AI-powered fraud prevention that learns from Stripe's global network to block fraudulent transactions.
Sigma
Custom SQL-based reporting and analytics for deep insights into your business data.
Atlas
Incorporate a US company, open a bank account, and start operating globally from anywhere.
Treasury
Banking-as-a-service APIs that let you embed financial services in your platform.
Payment Methods Supported by Stripe
One of Stripe's key advantages is its extensive support for global payment methods:
Card Payments
Stripe supports all major credit and debit cards including Visa, Mastercard, American Express, Discover, JCB, UnionPay, and Diners Club.
Digital Wallets
Apple Pay, Google Pay, Microsoft Pay, and Click to Pay for seamless checkout experiences.
Bank Debits & Transfers
ACH payments (US), SEPA Direct Debit (EU), Bacs Direct Debit (UK), and various other country-specific bank transfer methods.
Buy Now, Pay Later
Klarna, Afterpay, Affirm, and other installment payment options popular in various markets.
Local Payment Methods
Stripe supports hundreds of local payment methods including:
- iDEAL (Netherlands)
- Bancontact (Belgium)
- Giropay (Germany)
- Przelewy24 (Poland)
- Alipay (China)
- WeChat Pay (China)
- GrabPay (Southeast Asia)
- and many more...
Stripe Fees and Pricing
Stripe uses a transparent, pay-as-you-go pricing model with no setup fees, monthly fees, or hidden costs:
Standard Online Payment Processing
| Transaction Type | Fee (US) | International Fee |
|---|---|---|
| Online card payments | 2.9% + $0.30 | Additional 1% for international cards |
| In-person payments | 2.7% + $0.05 | Additional 1% for international cards |
| ACH Direct Debit | 0.8% (max $5) | Not available internationally |
| Digital wallets | 2.9% + $0.30 | Additional 1% for international |
| Local payment methods | Varies by method | Varies by method and country |
Additional Services
| Service | Fee |
|---|---|
| Currency conversion | 1% of transaction amount |
| Chargebacks | $15.00 per dispute (waived if won) |
| Billing (for recurring charges) | 0.5% on recurring payments |
| Sigma reporting | Starts at $0.02 per charge |
| Radar fraud protection | $0.05 to $0.07 per screened transaction |
Pro Tip
High-volume businesses can negotiate custom pricing with Stripe. If you process more than $100,000 monthly, contact Stripe's sales team to discuss enterprise pricing with volume discounts and dedicated support.
Stripe Integration Options
Stripe offers multiple integration approaches for different technical levels:
Pre-built Checkout
Stripe Checkout is a pre-built, hosted payment page that's optimized for conversion and mobile devices. It's the fastest way to start accepting payments with minimal code.
Payment Elements
Pre-built UI components that you can embed directly into your website or app. They automatically display the most relevant payment methods based on customer location.
Custom Integration
For complete control over the user experience, developers can use Stripe's JavaScript libraries and mobile SDKs to build fully custom payment flows.
No-code Solutions
Stripe integrates with popular e-commerce platforms like Shopify, WooCommerce, and BigCommerce, as well as no-code tools like Squarespace and Webflow.
Countries Where Stripe Is Available
Stripe is continuously expanding its global reach, but availability varies by country and product:
Full Service Countries
Stripe offers full payment processing in 46 countries including the United States, Canada, United Kingdom, Australia, most European countries, Japan, Singapore, Brazil, Mexico, and others.
Global Reach with Stripe Atlas
For entrepreneurs in unsupported countries, Stripe Atlas allows you to incorporate a US company, open a US bank account, and access Stripe's full suite of products from anywhere in the world.
Important Consideration
While Stripe continues to expand globally, certain features and payment methods may not be available in all countries. Always check Stripe's official documentation for the most current information about availability in your region.
Security and Compliance
Stripe is designed with security as a fundamental principle:
PCI Compliance
Stripe is certified PCI Service Provider Level 1, the most stringent certification in the payments industry
Encryption
All sensitive data is encrypted at rest with AES-256 and in transit using TLS
Machine Learning
Stripe Radar uses machine learning to detect and prevent fraudulent transactions
Stripe vs. Traditional Payment Processors
Stripe differs from traditional payment processors in several key ways:
| Feature | Stripe | Traditional Processors |
|---|---|---|
| Developer Focus | API-first with extensive documentation | Often limited integration options |
| Pricing Transparency | Simple, published pricing | Often complex with hidden fees |
| Global Capabilities | Built for international from day one | Often region-specific |
| Product Suite | Comprehensive financial infrastructure | Typically focused on payments only |
| Setup Time | Minutes to get started | Often requires lengthy application process |
Future of Stripe
Stripe continues to innovate and expand its product offerings. Recent developments include:
- Expansion of banking-as-a-service capabilities through Stripe Treasury
- Enhanced cryptocurrency support (currently available for specific businesses)
- Further global expansion to underserved markets
- Advanced data and analytics tools for businesses
- Continued focus on reducing fraud and increasing authorization rates
Final Recommendation
Stripe is an excellent choice for businesses that value developer-friendly tools, transparent pricing, and global capabilities. Whether you're a startup looking to quickly launch payment processing or an enterprise needing a customizable solution, Stripe offers the flexibility and power to meet your needs. Its comprehensive suite of products makes it more than just a payment processor—it's a complete financial infrastructure platform for the internet economy.
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