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Founded by brothers Patrick and John Collison in 2010, Stripe processes billions of dollars annually in online transactions. Stripe owes their success to a technology stack that allows a variety of different kinds of internet businesses to process creditcardtransactions and customize their payment solution.
What Is Stripe Payments? Stripe is a third-party payment processor that enables merchants to accept creditcardpayments. Using Stripe Payments, you can accept a wide variety of payment options—creditcards, wallets, and international currencies—both in-person and online.
Benefits of SumUp: Low-cost card reader that can accept chip, contactless, and swipe payments. Slightly better transaction fees than Square. In fact, both SumUp and Square are payment service providers —meaning they allow you to accept creditcardpayments without a merchant account. SumUp Software.
Merchant account providers are the more traditional merchant service providers—these providers can be banks, independent sales organizations, or payment processors, like Dharma Merchant Services, Payment Depot, or Chase Merchant Services. Cost of CreditCard Processing. Payment service provider. Payment Depot.
Creditcard and e-wallet processing fees: 2.9% + $0.30 per cleared transaction. Internationalcreditcard processing fee: 3.9% + $0.30 for internationalcards. You can also add other services for increased fraud detection and in-person payments. Payment processing fee: 2.9% + $0.30
The benefit for business owners is that it is easy to get approved to begin processing online creditcardpayments with either Stripe or PayPal, given that aggregators have a lower threshold for accepting new clients than a dedicated merchant account provider. All in all, Stripe’s payment services will cost your business 2.9%
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