As an e-commerce business owner, choosing the right payment processor can be a daunting task. There are numerous options available, each with its own set of features and fees.
Two of the most popular choices are Stripe and Shopify Payments. But which one is the best for your business?
To figure out which payment processor is the best, you need to think about the following:
- Fees: Each transaction is charged a fee by both Stripe and Shopify Payments. But the costs depend on which plan you choose. Stripe charges a flat rate of 2.9% plus 30 cents per transaction, while Shopify Payments' basic plan costs 2.9% plus 30 cents and its advanced plan costs 2.6% plus 30 cents. It's important to figure out which option will save your business the most money based on how much you sell.
- Availability: Stripe is available in more than 40 countries, but Shopify Payments is only available in a small number of countries. If you run a business that serves customers all over the world, Stripe might be a better choice because it lets you accept payments from a wider range of customers.
- Integration with other tools: Both Stripe and Shopify Payments can be used with a wide range of other tools, such as email marketing platforms and accounting software. Stripe, on the other hand, has a wider range of integrations, making it a better choice for businesses that use a variety of tools.
- Security: Both Stripe and Shopify Payments protect customer information by using secure payment gateways. But Stripe has had a number of security problems in the past, which may make some businesses nervous.
- Support for customers: Both Stripe and Shopify Payments offer email and phone support for customers. Shopify Payments, on the other hand, has a reputation for giving its users better and more personalised help.
In conclusion, both Stripe and Shopify Payments are reliable payment processors with a variety of features to meet the needs of different businesses. The best choice for your business will depend on your needs and priorities, such as fees, supported countries, integration with other tools, security, and customer support. It's important to think carefully about each choice and pick the one that fits your business best.
