Are you wondering how reliable the Stripe payments processor is? Or if it is even legit? Then we’ve got all the answers for you. And if you are concerned about why you should consider using Stripe over other payment options available in the market, then let’s dive into that too.
Is Stripe a legitimate payment system?
Addressing the query straightforwardly, we will say a big fat YES! Stripe is a payments processing company similar to PayPal and Square, enabling businesses with an online presence to accept online payments with security and convenience since 2009.
It has been ranked #7 in 2021 on the Best Credit Card Processing Companies list and has always ensured legal compliance on all platforms. Stripe’s active business reliers and many online reviews testify to its legitimacy.
Is Stripe Reliable?
Stripe is one of the most reliable processing systems, and many online businesses, including Fortune 500, have shown complete reliability. Nerd wallet has given 5 Star ratings to this payments processing company, which has called it a ‘Power payments processor for online sales.’ Many websites like Twitter, Amazon, Lyft, Shopify, Instacart and others use Stripe due to its reliable credit card payment services.
Stripe is used globally and has shown the highest processing security and pricing transparency levels. So you got nothing to worry about.
1. Is Stripe Safe?
Stripe is a stable platform as it considers security as its #1 priority. It also exceeds the rigorous security standards with SSL Protection, PCI Compliance and Encryption of credit card numbers.
2. Is Stripe the same as Paypal?
Stripe and PayPal are credit card processing companies. At its core, Stripe is a merchant services company that lets you personalise its products for offline or online purchases, whereas PayPal is a digital wallet.
3. What Companies use Stripe?
The top 10 Companies that use Stripe are:
- Virgin Pure
- eBay UK
4. Why does Stripe need my SSN?
SSN is an identity verification check that ensures you are who you say you are and have the authority to act on behalf of an entity or enterprise. Stripe tries to fulfil its legal compliances through the use of SSNs.
5. Who is Stripe Owned by?
Patrick Collison and John Collison own Stripe.
6. Does Stripe charge a fee?
Stripe is a pay-as-you-go payment processing platform that does not charge businesses a monthly fee. Typically it charges 2.9% + 30 cents for online credit card transactions, and 2.7% + 5 cents for in-person payments and swiped transactions.
7. Why do people use Stripe?
Many individuals and businesses choose Stripe as it enables them to manage payments and pay out internationally using Stripe’s programmable APIs and tools. It further helps them to stay compliant while being able to verify identities and routing payments.
Stripe has created a place for itself in the online payments industry and gained the trust of millions. Every product has its pros and cons but requires vigilance while doing an online transaction. Stripe is built with an easy-to-use interface with some intelligent attributes and excellent services. However, depending on your business’s requirements, you can choose if it will be the right match.
Also Read: Is Paypal safer than Debit Cards?