Helcim vs Stripe: Key Differences

Finding the right payment processor for your business is essential, as this will determine the security of your transactions, convenience, and how much of your income will go towards fees. Some of the most popular payment tools include Helcim and Stripe, but which one will be better for you or your business? 

In this article, we’ll focus on comparing Helcim vs Stripe in terms of pricing models, fees, product offerings, and features. In this way, you will be able to decide whether one of these solutions will be the perfect choice. 

Helcim and Stripe Comparison: Rates and Pricing Models 

The first difference we should talk about in the context of Helcim and Stripe is their different pricing models. There are a few advantages and disadvantages associated with each one:

The tiered interchange-plus pricing model of Helcim 

So, what is the difference between Stripe and Helcim? Helcim relies on the use of an interchange-plus pricing model, which is known for its high level of transparency, as you don't need to track various costs involved in credit card transactions. The users just pay the fee set by their card network (e.g., Visa or Mastercard) and a small extra markup issued by the payment processor. Another advantage of Helcim is its tiered pricing model with discounts for high-volume transactions, which is highly important for large businesses. 

The disadvantage of this model is that it can be more difficult to calculate, and it may be more expensive for small businesses or startups than paying flat rates. 

The flat-rate pricing model of Stripe 

As opposed to Helcim, Stripe uses the flat-rate pricing mode. With this model, you get the most straightforward approach to payment processing, as every transaction has the same processing cost. 

The advantage of flat-rate pricing is its simplicity, and it’s excellent for businesses that are not qualified for individual merchant accounts. The disadvantage is that you get overall higher processing rates for larger amounts of money. With flat-rate pricing, a merchant doesn’t see what card types have been processed. In this way, they don’t get discounts on debit cards. 

Now, let’s compare Helcim and Stripe in terms of rates for different types of transactions. 

What Are the Products Offered by Helcim and Stripe?

Numerous businesses also need equipment for processing in-person payments, and both Helcim and Strip offer their solutions. 

Helcim Card Reader 

Helcim Card Reader costs $109 and offers all the basic features you need for in-person payment processing. It is small and lightweight yet can be easily used as a countertop terminal. 

This card reader accepts contactless payments and is NFC-enabled. It can be used to accept the majority of card brands and even provides customer tracking features. You can also email receipts with this solution.

Helcim Smart Terminal

Another product to mention is Helcim Smart Terminal, which costs $349. It is an excellent all-in-one solution with pre-installed POS software and a sleek design. With the help of this terminal, you can conveniently accept all payment types, including store credit cards and cash. You can also use it to accept and create invoices. It works for various companies but is probably not the most cost-effective option for small businesses.

Stripe Reader M2

The cheapest card reader offered by Stripe costs only $59. It is a secure and reliable battery-powered equipment for businesses. It accepts contactless, EMV chip, and swipe payments. With this solution, you also get proper end-to-end encryption. One thing to note is that Stripe’s hardware must be configured to work with Stripe Terminal or your POS system.

Stripe BBPOS WisePOS E Reader

Another equipment option from Stripe is the BBPOS WisePOS E reader. This equipment is more expensive compared to Stripe Reader M2 and costs $249. It is a larger POS terminal with a touchscreen that can be easily used as a countertop solution. This reader accepts contactless and EMV chip payments and swiping. It is a highly customizable terminal, but it requires programming and technical knowledge to adjust it the right way. 

Conclusion

When we compare Helcim vs Stripe, it is clear that both are excellent services used to process payments by companies of different sizes. 

Stripe is undoubtedly a flexible and advanced solution that will work best for small businesses with developers who can get the most out of its features. In this sense, Helcim is easier for those without extensive software knowledge. It has a straightforward POS platform and offers pre-built checkout, so you can start accepting payments right away.

The next thing you should consider is the difference in pricing models. A flat-rate model of Stripe seems more simple at first glance, but the interchange-plus model of Helcim can help save money, especially on significant transactions. 

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