Overview of Stripe's Payments System: Benefits and Features
More than 135 currencies and payment methods, more than 45 countries, and $817 billion in processed payments — Stripe's 2021 statistics demonstrate the system's popularity worldwide. Over the past year alone, nearly 100,000 companies have integrated the latest version of Stripe.
As of 2023, the Stripe platform has received over 100 optimizations. They all aimed to improve the conversion of all types and scales of businesses. According to research by the company's analysts, the average profit margin of new platform users (the latest iteration) increased by 10.5%.
We have analyzed the features of the Stripe payments gateway and are ready to share the results with you. From the material, you will learn about the Stripe payment processors, built-in reporting features, and the platform's main advantages.
Features of the Stripe Payments System
There are over 20 Stripe payment features that improve business conversion, transaction security, and customer satisfaction. Let's take a look at the most striking ones.
Comprehensive payment processing
The platform supports not only credit or debit cards but also direct bank transfers and digital wallets. You can pay for goods or services in any convenient way.
A service or product provider can independently adjust the cost of a subscription to a marketplace. To do this, you need to customize one of the templates by setting the price and the validity period.
Need a personalized page with a unique design and payment templates for your website or direct billing? With Stripe, setting it up takes little time and effort.
Global payment processing
The platform supports more than 45 countries and about 135 currencies. It is an ideal solution for scaling your business to the international market.
Advanced fraud detection
Advanced KYC policies combined with AI-based information scanning algorithms simplify and speed up the validation process for entrepreneurs and potential consumer goods or services.
Reporting and analytics
Create your own reports using the platform's automated system. Personalize receipts, financial statements, etc., for each transaction or work period.
Benefits of Using Stripe Payments System
Stripe processing features have many business benefits, ranging from transaction security to UX, directly affecting conversions. Let's take a look at a few examples.
Features of Stripe include enhanced transaction security: encryption of communication channels and payment data, and KYC algorithms. This ensures the safety of payments.
Personalized payment pages on websites or direct links, user-friendly design, and various payment methods are the key features of Stripe processing that form a flawless UX.
Scalability and Flexibility
Opportunities for automating payment and verification allow small startups and international corporations to use the platform effectively.
The platform's official support extends to more than 45 countries and is compatible with 135+ currencies. This removes restrictions on business in the international market, creating loyal conditions for development.
Thanks to a clear and convenient API, the platform can be connected to the marketplace by almost any specialized integrator or in-house IT staff (after studying the comprehensive documentation).
The cost of using the platform is calculated individually. It depends on the scale of the business, the connected features of Stripe card payments, and the volume of transactions over a certain period.
Stripe is a leading payment aggregator for all types and sizes of businesses. The company's market share is 20.26% at the time of publication. About 228k websites use Stripe as their main payment system.
If you want to keep up with flagships like OpenAI, BigCommerce, and Ticket Tailor, integrate Stripe into your business. Use the platform's innovative features to scale your business and increase conversions!
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Does Stripe support credit cards?
Yes, it also supports debit cards. In addition, users can connect external digital wallets and choose a convenient payment method.
Besides, direct bank transfers between target accounts can be made, with detailed reporting on each transaction.
Is Stripe suitable for small businesses?
Thanks to individualized pricing for each business, the platform is convenient and profitable even for startups with a limited budget.
Stripe offers several pricing options that include features for any type and scale of business. Choose the one that best suits your company's activities and budget.
What are the main Stripe features?
- Ability to process multiple payment types, including credit cards, debit cards, and digital wallets;
- Subscription fees;
- Customizable checkout process that allows businesses to create seamless and branded checkout experiences for their customers;
- Ability to process payments in multiple currencies and support international transactions;
- Advanced fraud detection;
- Reporting and analytics features.
What are the benefits of Stripe payment?
- Payment security
- Customer experience
- Scalability and flexibility
- Global reach
- Developer-friendly integration
- Transparent pricing
They all help to optimize processing and making payments, expand the geography of operations, and improve customer service.