Razorpay VS Stripe

Let’s have a detailed comparison of Razorpay vs Stripe to find out which one is better. Let’s discover some of the essential factors that you must consider and decide whether Razorpay or Stripe fits your business.

The security of transactions is a crucial concern for any kind of business. Businesses need a payment gateway that is completely secure as well as easy to use. A payment gateway allows you to receive payments via multiple modes including debit/credit cards, net banking, UPI, and more. In short, a payment gateway makes it convenient for users to receive payments and make transactions conveniently.

There are two major payment gateways namely Razorpay and Stripe. Let’s compare the two of them in detail, to find out the better one.

Razorpay vs. Stripe - An Overview

Both Stripe and Razorpay are major payment gateways that help in processing transactions.

Stripe includes features like payment handling, invoice, taxation management, recurring invoice, online payment, etc. On the other hand, Razorpay offers multicurrency processing of a payment, zero setup cost, online payment, multiple types of payment, invoices, and other features.

The major difference between Razorpay and Stripe is that Stripe offers just a payment service to all companies worldwide. Whereas Razorpay is not just a payment gateway, it also offers multi-currency processing, vendor payouts, subscription options, etc. for both businesses as well as individuals. However, currently, it is only concentrating on the Indian market.

Razorpay and Stripe: Pros & Cons

• Using Stripe, merchants can accept online payments. On the other hand, Razorpay offers different payment options like debit/credit/UPI to businesses in India.
• Stripe is used in different nations including Canada, the UK, and the US, while Razorpay focuses primarily on the Indian market.
• A percentage fee per transaction is charged by Stripe. On the other hand, a percentage fee, as well as a flat fee, is charged by Razorpay on every transaction.
• Stripe also offers support for in-person payments through Terminal SDK and compatible iPhones, but Razorpay doesn’t.
• Razorpay caters to businesses as well as individuals and freelancers. Whereas Stripe is primarily for businesses.
• Stripe allows recurring transactions, however, Razorpay doesn’t.
• Razorpay offers product training to its users both online and in person. On the other hand, training for Stripe is through webinars, videos, and documentation.

Razorpay vs. Stripe: In Terms of Features

Stripe and Razorpay are quite similar to each other when it comes to features. There is not much of a difference between them. Both offer multiple options for payment collection. However, they differ in terms of certain functionalities including language-supported, multi-currency-support, recurring payments, etc.

Let’s see how both payment gateways work.

• Language Supported: Stripe supports multiple languages including English, French, Chinese, Spanish, etc. However, Razorpay only supports English.
• Multi-Currency Support: Stripe supports multiple currencies and receives payments in different currencies. But Razorpay doesn’t support this feature.
• Recurring Payments: Stripe allows its customers to collect and send recurring transactions. However, Razorpay doesn’t support this feature.

Comparison of Razorpay vs. Stripe in Terms of Pricing

Stripe charges 2% for payments done through Indian cards & 3% for payments via international cards. On the other hand, Razorpay charges 2% for all types of transactions.

Razorpay or Stripe: Customer Service

As far as customer support service is concerned, Stripe offers 24×7 support through email and tickets. It also has some documents available on its website to help users with frequently asked questions. Additionally, it has a community of experts to help customers with their doubts and queries.

Razorpay offers customer support via guides and website documentation, community help, tickets, and emails. Apart from that, it also offers support via phone calls.

Overall, Razorpay wins in terms of customer service as it offers support via phone calls along with other modes of support.

Razorpay or Stripe: Target Audience

The target audience of Razorpay includes SMEs, large businesses, individuals, as well as freelancers. Stripe also caters to all types of businesses except individuals. Overall, Razorpay has a wider target audience than Stripe.

Razorpay or Stripe: Security

Both Razorpay as well as Stripe follows strict security standards. Stripe is PCI compliant and uses SSL support, credit card vaults, HTTPS & HSTS protection, etc. to secure its website. Apart from that, it also uses Stripe Radar for the prevention of fraud.

On the other hand, Razorpay is PCI compliant, SSL & TLS certified, and uses HTTPS protection.

Clearly, Stripe is a more secure platform. As Razorpay is comparatively a newcomer, it is still working on its security measures.

Comparison of Razorpay and Stripe: Payment Modes

Stripe supports different payment modes like debit and credit cards, digital wallets, in-person payment, etc.

On the other hand, Razorpay supports all major debit/credit cards, digital wallets, and other modes (including EMI, net banking, and UPI)

In this case, Stripe is ahead of the game as it also offers an in-person payment option.

Razorpay or Stripe: Integration

Razorpay comparatively supports fewer integrations than Stripe. The integrations supported by Razorpay include WooCommerce, Magento, CS-Cart, Shopify, WordPress, and more.

On the other hand, Stripe has more options for integration with QuickBooks, WooCommerce, SendOwl, Baremetrics, Reetail, Sush.io, Novo, and more.

Razorpay or Stripe: Deployment

As far as deployment is concerned, both Stripe as well as Razorpay are cloud-based and are accessible on all major operating systems namely, Windows, macOS, Linux, and more.

Apart from that, they both are available on Android as well as iOS devices. As far as deployment is concerned, both Razorpay as well as Stripe weigh equally.

Which Is Better: Razorpay or Stripe?

After a thorough analysis, it’s time to declare the best among both the players. In terms of features, we can say Stripe is ahead of Razorpay as it supports multiple languages and currencies, and recurring payments, which isn’t available in Razorpay. Apart from that, Stripe also supports in-person payment options, but Razorpay doesn’t. The number of integrations offered by Stripe is also more than that of Razorpay.

However, in terms of customer service, in-person product training, and the customer base, Razorpay is ahead of the game. Overall, Stripe is a better option compared to Razorpay.