Why Stripe as a payment gateway option is great for your business
February 05, 2020 10:51
2 min read788 views so far!
Starting any new business is always an exciting endeavour. At the same time, it can also be an extremely stressful and hectic experience. You had envisioned and have now meticulously crafted your idea into a concrete, working model. It may have escaped your mind in the chaos of planning and designing, but one of the most crucial last steps is deciding how to accept payments from your customers.
How Does Stripe Work?
If you’re looking to do any kind of business online, your safest, as well as the easiest option, is to use a payment gateway that will handle your transactions.
Payment gateways, such as Stripe, act as a middleman and authorise transactions between merchants such as your business and the customer’s credit card company or bank.
Today, Stripe is valued at over $35B on the market and is one of the fastest-growing technology companies in the online payments sector.
The stripe payments are operational in 34 countries and support transactions in over 135 currencies worldwide.
According to IDC analysts, an increase in revenue of 6.7% on average was observed in businesses that used Stripe. With Stripe fees starting from as low as 2% and support for global payments built-in, you can truly expand your business limitlessly with Stripe without any additional costs or infrastructure.
Flexibility, Security and Global Reach
Whether you are a small local business selling handmade products or a national level company looking to expand internationally, Stripe has a solution for your billing needs.
You can choose from a flexible list of billing models that includes one-time payments to automatic subscription models based on flat rates or even usage-based billing.
When it comes to fraud detection, Stripe offers industry-leading machine learning technology that is constantly trained with billions of data points, which can pre-emptively detect and block potentially high-risk transactions.
Stripe’s powerful and flexible tools allow you to focus on what’s important to you and your business without having to worry about debilitating paperwork or security risks.
With a seamlessly unified global payment platform, Stripe ensures that the end-to-end transaction process is effortless and rewarding, both for you and your customer wherever you are.