An international FinTech giant and Payment processor called Stripe has made its way into France. The company offered support for the bitcoin transactions two years ago. And since then, the growth shown by Stripe has been phenomenal. Stripe has expanded substantially over the recent years and its services are now available in more than 25 countries including US, UK, Ireland, Canada, Denmark, Germany, Norway, Mexico, Switzerland and now France as well.

More About Stripe & The Services It Proffers

Stripe is an Irish firm that was brought to light in 2011. It was founded by John and Patrick Collison in 2010. During the initial stages, the company was engaged in various crowdfunding campaigns in order to raise funds for the business. And finally in September 2011, it emerged as an international FinTech and payment processor.

Stripe provides a payment platform for the merchants and retailers. It supports 130 fiat currencies and modern payment methods like Apple Pay, Android Pay and Bitcoin. Furthermore, the one-click payment options provided by Stripe have been highly appreciated. However, the Stripe services are not just limited to payment processing. The company also provides various FinTech solutions such as invoicing and accounting tools for the customers.

Stripe vs PayPal

The payment services proffered by Stripe are quite similar to the ones provided by PayPal. And consequently, the former is quite often compared with the latter. Besides, PayPal happens to be in market for a very long time while Stripe has arrived just a few years ago. But there are many reasons to prefer Stripe over PayPal. One such reason is of course, the bitcoin integration. However, we don’t promote any of the two payment methods in any way. Neither are we in favor or against any of them. Here, we are only going to highlight some key differences between the two in terms of some crucial parameters. And then it’s all up to you to decide which payment option suits you better.   

• Transaction Fees: The base transaction fee is same for both Stripe and PayPal. They charge a flat rate of 2.9% + 30¢ as a base fare. The base fare is not internationally stable and it varies country to country. The only difference is that PayPal also offers various discounts to its customers as their transaction volumes increase.

• Security: Security has always been a primary concern for both Stripe and PayPal and both are pretty serious about it. Besides, both are well recognized and trusted brands that are serving their customers for a long period of time. Although both methods are highly secure, Stripe makes use of stripe.js owing to which the credit card information that you enter in the payment form is never directed to the server. The use of stripe.js makes it somewhat more robust and reliable than PayPal.

• Application Program Interface (API): The Stripe API is somewhat more simpler, clean and intuitive which is yet another extravagant feature it possesses. On contrary to this, the PayPal APIs were quite inconsistent and encompass several bugs. But PayPal is working on the bug fixes and we might soon have a change in present scenario.

The Bottom Line

All in all, Stripe is somewhat new to the market and it encompasses new features as well as the latest technologies. So, it definitely has its own perks but that doesn’t make PayPal any less popular. PayPal owns a humongous user base and Stripe at present, is nowhere near that mark. Obviously, the competition is always there and both have to keep on putting efforts to thrive in the competition.    

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