Stripe - Is it so easy to get your payments?

Wednesday, March 11, 2020
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The internet has completely changed the way most businesses operate, alongside creating whole industries that never existed in the past. This new dynamic has brought with it a unique set of challenges. One of the most important for online businesses is, how do you get paid?

Here we’re not talking about business models and finding customers, it’s referring to the actual intricacies of a customer transferring their ownership of funds to you. There have been lots of payment schemes in the history of the internet, however this article is going to focus on Stripe.

What is Stripe?

Stripe is a software company that allows businesses of all sizes to receive payments online. Stripe powers millions of companys’ financial transactions, this ranges from some of the biggest companies in the world to small startups and SMEs.

Some companies that use the Stripe service include: Amazon, Google, Salesforce, Shopify, Microsoft, Spotify, Uber, and National Geographic, to name just a few.

The technology is adaptable to all forms of internet business including eCommerce and retail, B2B, and software as a service (SaaS). It offers a complete package that handles the intricacies of online payments for internet businesses. These include subscriptions, on-demand marketplaces, ecommerce stores, and crowdfunding.

The API that’s available lets businesses customise completely to their own brand’s values, while keeping the code foundations working efficiently. The code that the system is built on is continuously being improved and streamlined, making it easier for businesses to scale as their customer base grows.

At the heart of this is the goal of reducing the complexity of finance. Stripe does the hard work, liaising with financial institutions, regulators, payment networks, banks and customers, meaning that businesses don’t have to.

Ecommerce & Retail

With Stripe, you can create payment processes that cover both online and real world situations. Payment flows into your checkout can be optimised and customer information can be safely and securely stored to buy with one tap. Beyond this, you have the flexibility to setup repeated billing for customers and create a marketplace if that’s what your business needs.

B2B Platforms

Stripe was designed for platforms, which means adding payment options can be very straightforward. If your business runs on a platform model, Stripe can be integrated to allow your customers to easily accept payments from multiple countries. Some B2B companies that use this function include Shopify, Xero and DocuSign.

Software as a Service (SaaS)

Stripe does the heavy lifting for SaaS companies and billing. Simply upload the signup flow, add customers to a subscription plan, and Stripe will make sure everything else is sorted.  If you want to utilize your user data more effectively, there are a lot of opportunities to optimise your purchasing flow and reduce churn. Third party applications are also compatible, which will let you evaluate your metrics, highlighting areas for growth.

B2C Marketplaces

Online marketplaces act as middlemen between customers and something they want. This can vary hugely, from transport, food, places to stay, amongst a lot of others. It used to be difficult to setup payments within marketplaces, until Stripe came along. Seller earnings have to be calculated, multiple people have to be paid, taxes reported as well as a lot more. Stripe will cover all this for you.

Non-Profits and Fundraising

With the internet, social media, and smartphones, there has been an amazing range of new ways charities and non-profits can reach people willing to donate to their cause. However, this presents a challenge on how to efficiently receive payment through all these new channels. Stripe can create donation experiences that are intuitive and user friendly. It makes giving that little bit easier.


Pricing follows two different schemes, integrated and customized.


Stripe will take 1.4% + 20p on purchases made on European Cards. For non-European cards, this is 2.9% +20p.


This method is open to businesses that have either a large amount of payments or an individual business model that requires a bespoke payment system.

When entrepreneurs first envisage their business, often they don’t consider the real details. Implementing a successful payment system is hard to do, requiring much resources and technical skill. By integrating Stripe, a huge amount of this headache goes away, meaning entrepreneurs can concentrate on innovation and the idea they are passionate about.