What is Stripe? Get to know this payment gateway

Online Stores 15 November 2023

If you want to know what stripe is, and you are looking for an answer, here we will answer your questions about this innovative payment gateway that revolutionizes online transactions.

Since its founding, Stripe has gained prominence for its innovative and efficient approach to online payment processing. Join us for an in-depth understanding of what makes Stripe unique and why it has become a preferred choice for companies looking to simplify and empower their financial operations in the digital world.

What is Stripe?

what is Stripe

If you’ve been wondering what Stripe is. Well, it is nothing more than a leading online payment gateway that makes it easy for businesses and entrepreneurs to accept payments for products and services over the Internet. Founded in 2010, Stripe has become a fundamental tool for e-commerce and other digital transactions.

It allows businesses to securely receive payments, manage their transactions and offers easy integration into web platforms and applications.

With a reputation for innovation and a user-centric approach, Stripe has earned the trust of businesses of all sizes as a reliable and efficient solution for their payment needs.

What is Stripe for?

payment gateway

Payment processing:

Simple integration:

3. Subscription management:

4. Reliable security:

5. Lump sum payments:

6. Tools for developers:

7. Analysis and reporting:

Provides analytical tools to track transactions, understand performance and make informed decisions.

How does Stripe work?

Stripe’s operation is based on an efficient and secure process to facilitate the acceptance of online payments. Here’s how it works:

  1. Registration and setup:Users register on Stripe’s platform and set up their accounts, providing business and banking information.
  2. Platform integration:Stripe offers tools and APIs to easily integrate into websites, applications and e-commerce platforms.
  3. Product or service selection:Businesses define the products or services they want to sell, setting prices and configuring options such as subscriptions, discounts, among others.
  4. Transaction initiation:When a customer makes a purchase or pays for a service, Stripe’s platform initiates the transaction.
  5. Payment processing:Stripe processes payment securely, accepting debit cards, credit cards and other payment methods as configured by the merchant.
  6. Notifications and confirmation:Both the merchant and the customer receive real-time notifications about the transaction. The customer receives a payment confirmation.
  7. Transfer of funds:Paid funds are transferred to the merchant after deduction of applicable fees.
  8. Subscription and data management:For businesses with subscription models, Stripe facilitates management and recurring billing. It also ensures the security of customer data.
  9. Analytics and reporting:Stripe provides analytical tools for merchants to track performance, understand trends and optimize their strategies.

What functionality does Stripe incorporate?

Stripe incorporates a wide range of functionalities designed to simplify and optimize the management of online payments. Some of its key features include:

Payment processing

Accepts debit, credit and other payment methods, offering a fast and secure payment experience.

Subscriptions and recurring billing

Enables the creation and management of subscription models, facilitating recurring billing for subscribable services and products.

3. Global adaptability

It enables transactions in multiple currencies, facilitating international trade operations.

4. Easy integration

It offers APIs and tools that allow developers to easily integrate Stripe into websites, applications and platforms.

5. Advanced security

Implement robust security standards, such as PCI DSS, to protect customer information during transactions.

6. Analysis and reporting

Provides detailed analytical tools to track transactions, evaluate performance and make informed decisions.

7. Conversion optimization

Stripe includes features such as Checkout, which optimizes the checkout experience to increase conversions.

8. Developer tools

It offers a variety of tools and resources for developers, allowing you to customize and enhance your Stripe integration.

9. Management of refunds and charges

Facilitates the management of refunds and adjustments, providing flexibility to merchants in managing payment issues.

10. Support and documentation

Stripe has a robust customer support system and extensive documentation to help users get the most out of the platform.

What payment methods does Stripe accept?

what is Stripe

Stripe is known for its flexibility in accepting a wide variety of payment methods. Some of the payment methods Stripe allows include:

  1. Debit and credit cards: Accepts major credit cards such as Visa, Mastercard, American Express and others.
  2. Digital Wallets: Supports the use of popular digital wallets, such as Apple Pay and Google Pay, facilitating fast and secure transactions.
  3. Bitcoin and cryptocurrencies: Stripe allows transactions with cryptocurrencies, including Bitcoin, Ethereum and others, providing options for those who prefer this method.
  4. Bank Transfers:Facilitates direct bank transfers as a method of payment.
  5. 3D secure debit cards: Supports secure payments with debit cards using 3D Secure technology.
  6. Alternative financing: Offers the option of installment payments and alternative financing through partners such as Klarna, providing flexibility to consumers.
  7. Mobile payments: Facilitates payments through mobile applications and mobile payment services.
  8. Online banking: Supports payments through online banking services for users who prefer this option.

Stripe’s ability to accept such a wide variety of payment methods makes it a versatile option for businesses that want to offer their customers a variety of options when making online transactions.

What are Stripe’s rates?

Stripe fees vary by transaction type and merchant location. Some of Stripe’s common fees are described below:

Payment processing fees:

For debit and credit card transactions, the fee is usually a percentage of the total amount of the transaction, along with a flat fee for each payment.

Fees for international transfers

If transactions are made internationally or in foreign currencies, there may be additional fees associated with currency conversion.

Fees for returns and refunds

In cases of returns or refunds, some rates may be refunded, but others may not.

Currency conversion rates

If you handle transactions in multiple currencies, there may be fees associated with converting from one currency to another.

5.Platform and marketplace fees

If you use Stripe to operate a platform or marketplace, there may be specific fees associated with these types of transactions.

Is it safe to use Stripe?

Yes, the use of Stripe is considered safe and secure. Stripe implements a variety of security measures to protect users’ financial and personal information. Some of Stripe’s security features include:

  1. Data Encryption: Stripe uses SSL (Secure Socket Layer) encryption to protect information transmitted between users and its servers.
  1. Security Standards Compliance: Stripe complies with industry security standards, such as PCI DSS (Payment Card Industry Data Security Standard), to ensure the security of payment card data.
  1. Two-Factor Authentication: Users can enable two-factor authentication to add an additional layer of security to their accounts.
  1. Fraud Prevention: Uses advanced fraud detection and prevention tools to help protect merchants and end users.
  1. Continuous Updates: Stripe performs regular security updates to address potential vulnerabilities and ensure ongoing protection.

What information do I need to create a Stripe account?

Company or individual information

When you register with Stripe, you will be asked for basic information about your company or you as an individual. This includes legal name, address and contact details.

Bank information

To receive payments, you need to link your Stripe account with your bank account. Make sure you have the correct banking information on hand.

3. Commercial documentation

In some cases, additional documentation may be required to verify the authenticity of your company. This could include business or legal records.

4. Identification card details

If you register as an individual, a copy of your ID card or passport may be requested for verification fines.

Quick Verification Tips

Accuracy of information

Be sure to provide accurate and up-to-date information. Errors in the information may delay the verification process.

Verify regional requirements

Some regions may have additional specific requirements. Research and ensure compliance with all local regulations.

3. Prepare additional documentation

Anticipate possible requirements and be prepared with any additional documentation that may be needed.

4. Keep communication open

If any problems arise during verification, please contact Stripe support. Maintaining open lines of communication facilitates the process.

With Stripe, not only do you get a reliable payment gateway, but you also join a system designed for efficiency and security.

If you need help to integrate this payment gateway to your E-commerce, do not hesitate to contact us, in Kiwop we are ready to help you.


Leave a Reply

Your email address will not be published. Required fields are marked *

We help you get results

If you want to have the website you want or increase the online visibility of your brand, we know how to do it.

Shall we start today?