By Cashfree
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Cashfree Payment Gateway is a comprehensive payments platform which is designed to cater to the unique needs of busines... Read More About Cashfree
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By Airpay
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Airpay Payment Gateway is a special service in India that helps businesses handle payments easily and safely. It combin... Read More About Airpay Payment Gateway
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By RazorPay
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Razorpay Payment Gateway is a leading payment processing solution that empowers businesses to accept, process, and disb... Read More About Razorpay
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By Paytm
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Paytm for Business is India’s most popular payment gateway software. Paytm supports many ways to pay, like UPI, credi... Read More About Paytm for Business
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CCAvenue Payment Gateway is a comprehensive, end-to-end payment processing solution designed to cater to the diverse ne... Read More About Ccavenue
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PayG payment gateway is an omnichannel payment solution helping businesses of all sizes receive online payments from an... Read More About PayG
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PayU Payment Gateway is India’s most versatile payment processing solution for diverse needs of businesses. It provid... Read More About PayU
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By PayPal
Starting at
$25
Payflow Payment Gateway is a comprehensive solution for businesses to manage their online payment transactions securely... Read More About Payflow
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By WaveXpay
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WaveXPay is a revolutionary payment gateway software that has been designed to provide the best payment solutions for m... Read More About WaveXpay
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By IndiaIdeas Limited (BillDesk)
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BillDesk Payment Gateway is a comprehensive solution designed to streamline your payment processing needs. It provides... Read More About BillDesk
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By Nimbbl
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Nimbbl Payment Gateway makes paying online easy and hassle-free. It's great for online businesses, developers, banks, a... Read More About Nimbbl
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By Paygate
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SafexPay is one of the best online payment gateway system for Indian markets. This payment gateway manager has the cap... Read More About Safexpay
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PayUbiz is one of the best online payment gateway management software in India. E-commerce companies and freelancers w... Read More About PayUbiz
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Organisations can create their individual payment links directly within the dashboard offered by the software. They can... Read More About PayKun
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By CoinGate
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CoinGate Payment Gateway helps businesses handle cryptocurrency payments. It works with many types of digital money lik... Read More About CoinGate
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Last Updated on : 05 Oct, 2024
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Searching for Stripe alternatives? We’ve compiled the list of top Payment Gateway with features & functionalities similar to Stripe. There are a lot of alternatives to Stripe that could be a perfect fit for your business needs. Compare Stripe competitors in one click and make the right choice!
Stripe is without a doubt one of the most used and trusted payment gateways out there. But what if it doesn’t quite fit your business needs? Maybe you're looking for lower fees, better customer support, or unique features that Stripe doesn't offer.
However, one major drawback of Stripe is that it may not be suitable for businesses that rely heavily on in-person payments, such as retail businesses and restaurants. Additionally, Stripe's open API and tools are difficult for those without software development expertise, limiting its usage to only a few businesses. As a result, businesses prefer agile Stripe alternatives that offer advanced features and are easy to use.
Fortunately, there are numerous exceptional Stripe alternatives that can meet your specific needs. In this guide, we will explore some of the finest Stripe competitors to find the ideal payment gateway for your business.
Though Stripe is a popular payment solution, it does have some limitations that can push users to explore its alternatives. Here are some key drawbacks of using Stripe payment gateway:
High transactional charges: Stripe's standard fee is somewhere between 2-3% plus $0.30 per transaction. This might seem okay, but for businesses with lots of transactions, it can get pricey. There are also extra fees for things like chargebacks and international transactions.
Strict KYC/AML Policies: Stripe has strict rules for verifying customers' identities and preventing money laundering. If your business doesn't meet their rules, your account could be suspended or closed, especially if you're in a high-risk industry.
Limited Merchant Categories: Stripe only supports a specific MCCs (Merchant Category Codes) and it doesn't allow certain types of businesses to use their services. For example, if your business is related to adult content or gambling, you can't use Stripe.
Geo restriction: Many payment gateways have issues with geo-restrictions, and Stripe is no different. Stripe only works for businesses in 46 of the biggest countries, mostly in Europe and the Americas. Even though Stripe can accept payments from anywhere in the world, it can be a problem for business owners in countries not on this list.
Technical Expertise Required: Stripe's open API and tools can be challenging to use without software development expertise. This can be a significant barrier for businesses that do not have in-house technical talent. They search for alternatives of Stripe which are easy to use and don’t need technical expertise.
Choosing the right Stripe alternative can feel like a big task, but it doesn't have to be hard. Here are some simple steps to help you find the best payment gateway for your business:
Know Your Needs: First, think about what your business really needs. Do you want lower fees? Better customer support? More customization options? Make a list of the most important features for your business.
Compare Fees: Look at the fees of different payment gateways. Some might have lower transaction fees or fewer hidden charges than Stripe. Make sure you understand all the costs involved.
Check for Compatibility: Make sure the payment gateway works with the tools and platforms you already use. This will make the switch much easier.
Ease of Use: If you’re not very tech-savvy, choose a payment gateway that is easy to set up and use. Some alternatives to Stripe are more user-friendly and don’t require much technical knowledge.
Customer Support: Good customer support can be a lifesaver if you run into problems. Look for a payment gateway with strong customer service.
Global Reach: If you do business internationally, make sure the payment gateway works in all the countries you need to reach. Some gateways have better global coverage than others.
Read Reviews: Check out reviews from other businesses. Their experiences can give you a good idea of what to expect.
Any software similar to Stripe must have a range of features that enable businesses to process online payments, manage finances, and optimize revenue.
Here’s a comparison table for the top 5 Stripe alternatives:
Top Stripe Competitors Comparison | ||||||
---|---|---|---|---|---|---|
Features | Payflow (PayPal) | Razorpay | PayU | Skrill | CCAvenue | |
Ease of use | Easy | Easy | Moderate | Very Easy | Easy | |
UPI | No | Yes | Yes | No | Yes | |
Subscription Management | Yes | Yes | Yes | Yes | Yes | |
Multi-currency support | 20+ | 100+ | 120+ | 50+ | 25+ | |
Settlement period | Within 24 hours | T+2 Days | T+2 days | 2-3 Business days | 2-3 Working days | |
Store Creation | No | Yes | Yes | No | Yes | |
Charges | 4.40% + Fixed Fee | 2% to 4% | 2% - 3% + 18% GST | Up to 4.99%. | 2.00% of Platform Fees |
If you're looking for a payment gateway that's as good as Stripe, here are five great options to consider.
Razorpay is a top payment gateway in India that supports various payment methods, including credit and debit cards, UPI, and mobile wallets. It’s designed to cater to both small and large businesses with easy integration options and robust features.
PayU is a widely used payment gateway available in many countries. It’s known for its simple setup process and diverse payment options, making it ideal for businesses of all sizes looking to expand their payment capabilities.
PayPal's Payflow is a payment gateway that taps into PayPal's extensive global network. It’s a trusted solution that offers comprehensive features for accepting payments, making it suitable for businesses that need reliable and secure transactions.
CCAvenue is a prominent payment gateway in India, well-regarded for its diverse payment options and excellent customer support. It is favored by Indian businesses for its extensive services and deep understanding of the local market.
Skrill is an international payment service that allows businesses to accept payments globally. Known for its low fees and quick transactions, Skrill is a good choice for businesses looking for efficient and cost-effective payment solutions.
Techjockey’s Verdict
Stripe is a robust payment processing platform that offers a wide range of features and integrations for businesses of all sizes. However, it may not be the best fit for every business, as it has some limitations. If you are looking for an alternative to Stripe, there are several other payment processing platforms that would better suit your needs. It's important to do your research and compare different options before making a decision.
Author: Kalpana Arya
Q. What are the main limitations of using Stripe as a payment gateway?
Q. What factors should I consider when choosing an alternative to Stripe?
Q. Are there payment gateways with lower fees than Stripe?
Q. What are Stripe alternatives for Windows?
Q. What are some substitutes for Stripe for SMBs?
Q. What are the cheaper alternatives to Stripe?
Q. Which Stripe alternatives are best for international transactions?
Q. What are some user-friendly Stripe alternatives that don’t require technical expertise?
Q. Which payment gateways are suitable for in-person retail businesses?
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