FAQ:
Who is Stripe?
Stripe is a first class, tier one merchant processor, who leads the field in online transactions. We've partnered with them for their competitive rates, easy to understand processes, and quick transaction payouts.
What will my rate be?
The introductory rate is just that. Your rate is between you and Stripe to negotiate. Keep in mind, merchant processing is a commodity business, so don't be fooled, anyone saying they can get you a 1.9% rate is only showing you half the coin! Generally, merchants will show you a best case rate that only applies to certain cards in certain scenarios, and hide these facts with monthly statements that are difficult to understand. With Stripe, your rate is a flat rate, no matter the card. It may feel like you're paying more at first, but it's an honest rate. Your rate is negotiated with Stripe, and depends of several factors (volume, rating, type of purchases, etc.) After you've had some transactions go through the system, negotiate a better rate directly with Stripe.
How do I pay Stripe?
One of the things we love about Stripe is that you don't have to pay them a surprise amount at the end of the month in the form of a bill on your desk, like typical merchants. The transaction happens on the fly. Your percentage is taken out before it hits your bank account, so you're always settled up and there isn't a bill to pay.
What if I already have a merchant processor?
You can keep it, and still use your card reader (for example) in your office, or eliminate it and move everything online so you don't have two systems.
What if I don't want to use Stripe?
We got into the merchant services business so that we could drive the cost down for our customers. This is how we are able to get away with making our software so affordable. Instead of an issuing bank and the processor making all the money on your transactions (typical processing), we make a small cut of it, eliminating the bank, and that drives your cost down. If, for whatever reason, you are dead set against using Stripe, we can arrange an alternative and will charge your account 1% of gross sales to pay for our costs.
