Best for online businesses that want to scale
Stripe
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Stripe specializes in offering sophisticated payment processing solutions that can grow with your company. For online service providers like freelance graphic artists or copywriters, this platform can grow as quickly as you do. Stripe’s robust interface helps you easily integrate its payment platform with other software solutions in your tech stack, like accounting and customer relationship management software.
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Pros
- Competitive rates for processing online credit card transactions
- An application programming interface (API) with options to customize the software to your needs
- Financial solutions include invoice processing and quotes designed for businesses with their sights set on growth
Cons
- In-person transaction fees are more expensive than those of other providers, making it a bad choice for brick-and-mortar retail
- Manually entered or card-not-present transactions are more expensive
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At time of publishing, Stripe charges the following processing fees for credit card payments:
Online and in-person transactions 2.9% + $0.30 fixed fee Manually entered transactions 3.4% + $0.30 fixed fee International transactions 4.4% + $0.30 fixed fee Currency conversion additional 1% Domestic payment links 2.9% + $0.30 fixed fee Instant bank payments 2.6% + $0.30 fixed fee ACH direct debit 0.8% ($5 cap) International payment methods starting at $0.80 Buy Now Pay Later starting at 5.99% + $0.30 fixed fee Instant payouts 1.5% of volume ($0.50 minimum fee) Disputes $15 per dispute Post-payment invoices 0.4% ($2 cap)