Stripe or PayPal

[momon121]

Which is less costly for payment processing ?

thank you

 

[dotcomdude]

I’d say Stripe, but then I hate PayPal so I am definitely biased!

 

[fisicx]

Offer both.

I prefer to use PayPal because that’s how I get paid so there is loadsamoney in the account.

 

[Mr D]

Depends.

Less costly - you would have to work out for your product range which one benefits you. PayPal has 2 different fee setups. No idea if stripe does more than one.

However should take note of which buyers prefer. Do you lose a customer because you do not offer something they pay with?

 

[momon121]

PayPal charge 3.4% +20p per online transaction
Stripe 1.4% + 20p per online transaction

yes PayPal is more the popular one but would customers really would notice the difference once they reached the checkout or the fact that since Stripe is unheard of and less popular it may put people off ??

 

[Mr D]

PayPal charge 3.4% +20p per online transaction
Stripe 1.4% + 20p per online transaction

yes PayPal is more the popular one but would customers really would notice the difference once they reached the checkout or the fact that since Stripe is unheard of and less popular it may put people off ??

Paypal also charge 5p plus 5%.
The micro payment option.

If selling low priced goods then that becomes cost effective.

Do people notice?
Means having to go find my wallet and enter card numbers (stripe) versus clicking on screen (paypal).

 

[Sean Quinn]

My 2 cents is to go with Stripe. A company that is expanding their features constantly and have brilliant customer support. Contrast that with PayPal where it is not unusual for them to freeze your account for weeks without explanation.

Rule of thumb generally is - if you are looking for sporadic one-off payments use PayPal but if you want to run a business online Stripe is the answer.

 

[fisicx]

Unless your customers prefer to use PayPal.

I’ve been using PayPal for business for years and never had an account frozen.

 

[arnydnxluk]

Stripe should be cheaper. It's not really one or the other though, some customers prefer PayPal so you might want to offer PayPal for those customers, otherwise default to Stripe/card.

It might be worth starting with both and seeing what your customers actually use. I've found UK customers are very much happy to pay via card, so I stopped offering PayPal in the UK and received no complaints or drop in sales. However in the USA where the banking system is worse and a lot more people use PayPal, I continue to offer PayPal... for now.

 

[lesliedocherty]

i like stripe as they are the underdog, but the ease of paypal for most people means that 70% of our customers use Paypal over credit card

 

[DontAsk]

PayPal charge 3.4% +20p per online transaction

Unless you put enough through PayPal that they charge you less than that.

I think it use to be about £1500/month and the rate was a LOT lower.

 

[Mr D]

Unless you put enough through PayPal that they charge you less than that.

I think it use to be about £1500/month and the rate was a LOT lower.

£1500 a month and a little lower if on standard scheme last I looked a couple of years back.
I think it was 0.5% lower. Though if talking thousands in transactions a year then even half a percent adds up.
Big hoora when paypal made some changes - last year?

 

[momon121]

For sales over 50K a month PayPal fees are 1.9% +20p others wise it’s 3.4% + 20p it’s £1500 a month or less. So I think Stripe wins that round.


It’s always good to know other people experiences on these matters. I must admit Stripe customer service is phenomenal

 

[Scottishgifts4u]

I used PayPal for years without a problem. One advantage is the money goes straight into your account.

As long as you can make clear to your customers that they can use their cards as normal and don’t need a PayPal account you’ll be okay.

I only had a couple of complaints to PayPal and on both occasions they refunded the money back to the customer. But as both complaints were a bit ‘iffy’ they didn’t take the money out of my account as I was a good customer. I was well surprised as you hear pretty bad things about them.

 

[webhostuk]

We use both paypal and Stripe.. mostly its clients convenience that we have to look for. Till now both payment gateways work perfectly fine for us. If you speak about fees Stripe fees are less as compared to paypal. But then paypal are pretty old and resolve dispute issues quite properly.

 

[socktorelS]

I would go with Stripe, but keep in mind that a lot people stills use paypal, so having both options would be beneficial to your business.

 

[momon121]

Stripe also have great customer service. Would customer really notice the difference which gateway we provide to take their payment with

 

[Mr D]

Stripe also have great customer service. Would customer really notice the difference which gateway we provide to take their payment with

Yes.

 

[fisicx]

Stripe also have great customer service. Would customer really notice the difference which gateway we provide to take their payment with

Some people don't trust gateways they don't recognize.

 

[momon121]

Some people don't trust gateways they don't recognize.

That’s a fair comment. The truth is I am inclined towards stripe simply because of the rate

 

[Mr D]

That’s a fair comment. The truth is I am inclined towards stripe simply because of the rate

You like it because it benefits you.

Customers can like something different because they don't see that benefit. They can see a different benefit.

I ordered an item for the wife yesterday - from adding to basket to finishing transaction was less than 10 seconds and I didn't have to find my cards.
Seller offered paypal as a choice for payment.

Offer multiple choices and you won't drive customers away.
Make it harder to buy from you and could be they choose other sellers.

 

[momon121]

Thank you so much

 

[Ally Maxwell]

It's a no brainer. Offer both.

 

[momon121]

Thank you so much. I have now added both gateway providers

 

[Solly]

Do bare in mind that PayPal express is quite good for increasing conversions especially on mobile

 

[John Charles]

If possible, I think you should offer both. I prefer PayPal, but again I don't really have any experience with Stripe so.

 

[14Steve14]

I offer both. PayPal is a bit like Marmite, people either love it or hate it. With another option most people are happy. Stripe is cheaper now PayPal have increased their fees and dropped the reductions unless its big money. Other options are cheaper but usually tied to contracts.