stripe payments review

Stripe Payments Review 2022: Fees, Complaints, Lawsuits

Many business owners are already aware that in addition to competing with PayPal, Stripe now provides a payment processor and merchant services option. In this Stripe Payments Review, we will discuss its services and pricing. Moreover, if you’re an entrepreneur, a company with a development team, or a start-up that  doesn’t have money to spend on software development, this service may be for you!

What Stripe Payments Gateway Offers?

Stripe, founded in 2010, is a web program that allows merchants such as retail enterprises and online retailers to take credit card payments online rather than via traditional POS systems.

The service mainly targets site developers looking for solid online payment accepting tools and APIs. Its features include payment methods such as everyday transactions, Bitcoin processing, and payment facilitation on marketplace-style platforms.

Overall Summary of Stripe’s Payment Processing Services
Headquarter  San Francisco
Contract No particular contract length 
Service Charges  None 
PCI Fee None
Online Complaints  300+
Service Support  Yes


Stripe Origin, Headquarters, and Owners

Patrick and John Collison, two brothers from Ireland, founded Stripe in 2011. San Francisco and Dublin are home to the company’s main offices, but it also has 14 other locations worldwide where it handles payment processing.

Stripe claims to execute millions of transactions as a third-party payment gateway every year. Digital services, platforms, e-commerce businesses, B2B networks, crowdfunding organizations, and NGOs utilize the developer-friendly platform.

Overall Services Offered by Stripe Payments

A digital payment processor and merchant account are the essential services offered by Stripe. If you want to use the payment service for MOTO payments or face-to-face transactions, you’ll have to find another merchant account provider.  If you want to extend your retail offerings, keep this in mind since PayPal, WorldPay, and First Data provide all services – whereas Stripe does not.

  • Checkout

Stripe handles PCI compliance for the Stripe Checkout checkout form. The box can be pasted into a web page for rapid setup and automatically resizes for PCs, tablets, and mobile displays using dynamic JavaScript. It also automatically gathers statistics like conversion rates, user demographics, and other data that you may utilize for company management and forecasting purposes. Automatic shipment updates may be enabled by configuring Checkout to link to an e-commerce management portal.

  • Stripe Connect

Connecting several payment options and wallets to a single payment processor is possible with Stripe Connect. This makes it possible to link omnichannel sales, in-person revenues, and multi-step invoicing – such as via conferences, hotel reservations, and multi-platform check-out – all in one place.

  • Stripe’s Online Payment Platform

Anyone can be up and running using Stripe’s online payment gateway in just a few minutes, and the service is completely free. It’s a huge benefit to small businesses that don’t have the time or money to investigate technical nuances or pay for setup. Stripe promises an average setup time of only 10 minutes.

PCI DSS compliance for hosted sites (you will need to supply your security and PCI DSS certificate if you utilize the API to host your website). Several development tools and solutions are also built-in.

  • Regulated Billing

A range of subscription-based payment methods is available via Stripe, including monthly billing, regulated billing (for usage-based memberships), add-on choices, seating cost, and multi-plan features that allow a single user to subscribe to many subscriptions. A broad number of businesses may benefit from these payment options, including theatres, subscription boxes, web hosting plans, lending sites, and schools, to name just a few.

  • Security

The highest level of PCI DSS security is used to encrypt a hosted Stripe online store. PCI DSS certification and security compliance procedures will be your responsibility if you utilize the API. However, Stripe provides excellent security if not.

  • Connecting Tools

Customizable code, quick connection, and a simple code structure make Stripe’s online payment services easy to use and connect with other systems. Despite Stripe’s guarantee that non-developers can be up and running in 10 minutes, developers can design entirely custom checkout solutions and data collecting compatible with Sigma.

Stripe Payments Fee & Pricing

The costs of using Stripe’s payment and credit card processing services are easy to understand. The pricing policy of Stripe payments is as below:

  • When making an international payment, the corporation imposes an additional transaction cost of 1 percent on top of the 2.9% + $0.30 fee for all card types
  • Online businesses that use the platform’s quick payment option can promptly have cash sent into their bank accounts, albeit with a 1% cost.
  • As far as refunds and rejected card payments are concerned, there is a $15 chargeback fee per event
  • Early termination fees and PCI compliance fees are not (refunded if the chargeback is reversed)

Although Stripe’s business model is similar to the mobile credit card processing start-up Square, it is geared at internet companies rather than brick-and-mortar establishments.

The Customer Service and The Reputation of Stripe

Stripe provides merchant account services to more than 100,000 businesses in more than 100 countries across the globe. There are offices and customer support centers in London for the service. 

Even though it is not based in the United Kingdom, Stripe is one of the most well-regarded merchant accounts suppliers in the United Kingdom, with primarily good internet evaluations and just a few genuine bad ones.

When Stripe closes an account for suspicious behavior or if an account is being used outside of the terms of service (such as allowing phone payments), there are many complaints against Stripe’s practices. In general, clients are highly pleased with Stripe’s customer service, and the site’s support team is fast to respond to any difficulties that arise.

Final Verdict

Web developers can use Stripe’s extensive web-based credit card processing features. Customer service and fees are often cited as dissatisfaction in Stripe reviews, common for the industry. 

Most of Stripe’s customers are happy with the company’s straightforward pricing strategy and ease of use. Still, the company’s reserve rule, cancellation policy, and customer service are responsible for most customer complaints. Stripe’s terms of service and contract agreement should be studied carefully by merchants before comparing it to other e-commerce merchant services providers.


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