eCommerce Sites Using Stripe for Ecommerce Review 2024: [+Bonus – List of Sites Using Stripe]

Stripe for Ecommerce Review 2024: [+Bonus – List of Sites Using Stripe] Visit Website

In this Stripe for Ecommerce review, we’ll be taking a closer look at the features the major payment processing vendor offers to online vendors. Stripe is currently one of the most popular payment processing companies in the world, particularly among ecommerce stores.

According to recent reports, Stripe is currently used by almost half a million (437,940) ecommerce stores worldwide. It’s little surprise, when you consider the unique combination of simplicity and feature richness Stripe has to offer.

Read on for a look behind the scenes at the features included in Stripe’s dedicated ecommerce solution, designed to help you decide if this service is right for your business.

At present, Stripe has a fantastic reputation among companies too. For instance, it has a 4.2 rating among customers on G2. If you’re looking for a convenient solution for payment processing, Stripe could be the ideal option.

Stripe for Ecommerce Pros and Cons

Pros

  • Support for multiple currencies and payment methods
  • Integrations with a wide variety of tools and platforms
  • Powerful reporting and analytical tools
  • Financing options for growing businesses
  • Customizable checkout with UI modules
  • Tools for increasing conversions
  • Machine-learning driven fraud protection
  • No monthly fee and transparent transaction prices
  • Convenient experiences for customers

Cons

  • Payouts to your bank account can be slow
  • No phone support from the customer service team
  • Initial learning curve for some advanced features

What is Stripe?

Stripe is a leading credit card or payment processing company, primarily focused on helping online businesses manage transactions. Millions of people worldwide use the secure and reliable “Stripe online” solution to accept and send payments, and automate financial processes.

Stripe provides vendors with a fully integrated suite of payments products, combining everything businesses need for online and in-person payments, subscription management and more. The company even offers built-in tools for invoicing, fraud protection, and financing.

Stripe’s products range from global payment and checkout tools to terminals for in-person payments, banking-as-a-service solutions, and finance automation systems. Plus, business owners gain access to advanced reporting tools, for customized insights into revenue, refunds, fees, and more.

What is Stripe for Ecommerce?

Stripe lists ecommerce as one of its top use cases, or “solutions” available to retailers. Technically, it’s not a separate service offering, but Stripe does provide insights into how ecommerce vendors can use its solutions to manage payments and facilitate revenue growth.

As mentioned above, Stripe provides all the tools businesses need to accept payments both online and offline from customers around the world. Plus, the platform is specially designed to maximize conversion rates, and reduce risk, using fraud protection enhanced by machine learning.

Stripe for Ecommerce Key Features

Online Payments

At the heart of Stripe’s ecommerce solution is it’s tools for managing online payments. There are more than 100 payment methods to choose from, and companies can leverage flexible UI components to build their own store experience. You can even create a fully branded checkout using customizable CSS-level styling.

Stripe’s machine learning algorithm can also automatically show each customer the most popular payment method options, based on historical data. This gives companies the opportunity to experiment with new payment methods and A/B test checkout flows.

Plus, integration with the Link network means customers can make payments within as little as 6 seconds, with no need to have to re-enter their credit card or debit card numbers.

One Click Checkout

The Stripe Checkout solution is a pre-built payment form, already optimized to enhance conversions. It can be embedded directly into various websites, including those built with Wix, Shopify, and WooCommerce. You can also direct customers to a Stripe-hosted page if you don’t have a site.

Each checkout page is designed to load quickly and encourage action. You can access features like address auto-complete, 1 click payments, and third-party autofill to improve customer experiences. Plus, there are tools for payment method reuse, descriptive error messages, real-time card validation, and card brand identification.

As an added bonus, Stripe’s checkouts are optimized for every device, and even work with Apple Pay, and Google Pay out of the box. What’s more, the checkout supports over 30 languages, 135 currencies, and dynamic payment method options.

Fraud Protection

Stripe helps companies operating online to avoid fraud risks with “Stripe Radar”, an intelligent tool built into all checkout systems. Radar calculates a risk score for every transaction, using machine learning models trained on hundreds of billions of data points.

According to Stripe, Radar helps businesses reduce fraud issues by up to 32%, and can help companies to avoid blocking legitimate customers. The algorithms rapidly adapt to shifting fraud patterns, and learn from the transactions you process.

Stripe Radar even takes data from financial partners like Mastercard, Visa, and American Express, to ensure you’re always getting the best insights into fraud risks.

Stripe Connect

Ideal for ecommerce vendors with an existing online store, Stripe Connect offers one of the fastest and simplest ways to integrate payments into your platform or marketplace. The company’s APIs allow businesses to create and scale end-to-end payment experiences.

You can leverage instant onboarding tools, global payments, and more, driving opportunities for revenue growth. Stripe supports global companies, with payment methods that automatically calculate GST, VAT, and sales tax. Plus, you can offer customers financing, expense cards, and money management accounts.

If you’re working with contractors, you can manage payouts with a global routing engine, splitting funds between multiple users, and instantly routing payments across borders.

Revenue and Finance Automation

As mentioned above, the Stripe solution is designed to help businesses grow their revenue as quickly as possible. You can quickly add new business models to your account and experiment with different strategies. For instance, there’s the Stripe terminal, to help you manage in-person payments if you’re launching a pop-up store for your ecommerce brand.

You can also create memberships and subscriptions, and use Stripe billing to set up recurring payment plans and send customized invoices to clients. Stripe even offers a revenue recognition tool, which helps to automate your accounting processes, so you can manage financial data faster.

Reporting and Analytics

One of the most exciting features of Stripe for ecommerce platforms, is its powerful reporting and analytics suite. With Stripe Sigma, companies can pull reports into Stripe, write custom queries for their data, and learn about their business in a multitude of ways.

You can identify which customers are most likely to churn, which locations contribute the most revenue, and which products earn the most sales. There are even options to schedule reports and generate them automatically on a daily, weekly, or monthly business.

Companies can also collaborate with other team members directly in Sigma, or share reports through CSV downloads. Plus, you can use the Data Pipeline tools to synchronize your data from multiple environments into one unified space.

Other Stripe for Ecommerce Features

Alongside the key features mentioned above, Stripe also offers:

  • Climate tools for automatically reducing your carbon footprint
  • Financial connections for linked financial data accounts
  • Atlas for startup incorporation
  • Card creation for business leaders
  • Developer tools such as libraries and SDKs
  • Plugins and integrations with leading business tools

Stripe for Ecommerce Pricing

A major selling point of Stripe for Ecommerce vendors is it doesn’t actually cost anything to get started with the platform. There are no monthly subscription fees instead, all of the fees you pay take place whenever you accept a transaction.

The pricing for payment processing is extremely transparent. For instance, you’ll pay 2.9% plus 30 cents for online sales, which is standard for the industry. There’s also an additional 1% fee for international transactions and currency conversions.

If you’re taking payments in-person, you can expect to pay 2.7% plus 5 cents, and there’s the additional 1% fee for currency conversions and international cards again. Notably, you can also design a custom package if you take large volumes of payments.

Stripe’s standard payout speed takes up to 2 business days. However, qualified merchants can take advantage of instant pay-out options, which deliver fees to your account within around 30 minutes. However, there is an additional cost of 1% for the payout, with a minimum fee of 50 cents for each transaction.

Stripe for Ecommerce Ease of Use

Though some of the features offered by Stripe for Ecommerce brands might take a little getting used to, such as the custom APIs and developer tools, the system is very user-friendly. Once you have a Stripe account, you can manage everything from a unified backend environment, designed to be clean, intuitive, and feature-rich.

Part of what makes Stripe so easy to use is its flexibility. You can customize checkouts with a couple of clicks using pre-built UI modules, send payment links to customers in seconds, and automate complex tasks, like managing VAT and tax.

What’s more, Stripe makes international sales easy, by automatically converting currencies and offer customers the payment methods that make the most sense for them. You can set up dynamic checkouts that support your customers by automatically entering address and payment information, and even take payments offline in minutes.

Stripe also integrates with a variety of online shopping carts and existing tools, such as Magento, WooCommerce and WordPress. It takes seconds to integrate your accounts, so you don’t necessarily need to pay for developer support.

Stripe for Ecommerce Customer Support

While the features of Stripe are relatively easy to use, there’s always a chance you might need some additional support at times. Fortunately, Stripe offers a fantastic resource center on its website. Here you can find guides, annual conference notes, a comprehensive blog, and FAQs.

There’s a dedicated support center where you can explore a range of articles and resources specially designed to help with common problems, like setting up payment processes. Plus, you can learn from other customer stories too.

If you need to reach out directly to the team, you can visit Stripe’s contact page and reach out via email. There’s also a Developer Chat service on Discord, however Stripe doesn’t offer phone-based support at this time.

Is Stripe Right for Your Business?

Stripe for Ecommerce is a powerful selection of tools, perfectly suited to online sellers. The wide range of features available, combined with the user-friendliness of the platform makes Stripe difficult to beat for online retailers. Stripe can manage multiple currencies, automate common processes, and integrate with a wide variety of tools and platforms.

While there is a slight learning curve for some functions, like integrating Stripe with your shopping cart, the technology is reliable, secure, and great for boosting conversions. Plus, you’ll have access to some of the best reporting tools available online.

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