Why We Switched to Stripe for Payment Processing

By January 14, 2012 Stripe One Comment

Are you tired of paying a monthly fee to a merchant account and a payment gateway just for the privilege of accepting consumer credit card payments? We here at Untame used to pay nearly a thousand dollars every year just to offer this convenience to our customers, whether or not we processed any payments.

Then we discovered Stripe. Whereas bigger contenders like Authorize.net charge a monthly processing fee as well as a per transaction fee and a percentage, Stripe completely eliminates the costly monthly fees and charges only 2.9% + 30 cents per successful charge. No setup fees, no monthly fees, no card storage fees, no hidden costs: you only get charged when you earn money.

When weighing different options for payment processing we found Stripe to be the clear winner over many other payment processors. Here’s why:

  • No monthly or setup fees
  • No charge for failed payments
  • No merchant account or gateway required
  • American Express is charged at the same rate as any other card
  • No surcharge for business or international cards
  • Stripe handles the PCI compliance on their end

Acquiring a merchant account can be a lengthy process and generally involves a ton of paperwork. With Stripe you don’t have to have a merchant account and you can start selling online right away.

If you’re a small business looking for a way to save money, then Stripe may be the ticket for you. Stop paying thousands per year in monthly merchant and gateway fees and give Stripe a try. If you want to take advantage of these savings but need a little help getting set up, get in touch with us. We

About Marion Gooding

Marion is Untame's CEO. He manages, organizes and implements Untame’s projects and corporate vision.

One Comment

  • Asani says:

    Basically, the difference is that you are using paaypl as a merchant account. Paypal facilitates online payment by several different means, people can use credit cards, their bank accounts etc. People pay paaypl, paaypl pays you. This works similarly to a merchant account where people with their credit card pay the merchant processor, merchant processor pays you. Whereas in this case, merchant processor takes money from the issuing bank of the end client. You can use both if you had a good programmer or a shopping cart that allowed that, giving your end-users options to pay by paaypl as well as using VISA/MC/AMEX/Discover. It is entirely up to you. You will pay different costs I’m assuming, while your merchant processor has a rate for that, paaypl has different rates.If you only want to use one or the other, weigh the rates, see which one costs you less and use that.

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