Customers expect they can pay for goods and services beyond just paying with cash. Debit card and credit card transactions are increasingly common, as are digital wallets, which allow consumers to make contactless payments by holding their smartphone to an NFC-enabled payment terminal. But to extend these payment options to your customers, you need to partner with a payment processor.
Stripe is one such processor. In fact, it’s our pick as the best processor for online businesses. It offers competitive rates and relatively few fees compared to other leading payment processors.
This guide will help you understand Stripe’s pricing and the fees you can expect to pay when partnering with the company.
Editor’s note: Looking for the right credit card processor for your business? Fill out the below questionnaire below to have our vendor partners contact you about your needs.
Stripe has chargeback fees, like most other credit card processors. If a customer disputes a charge and requests a payment reversal, Stripe charges you $15. However, if the dispute is settled in your favor, Stripe will reimburse the entirety of the fee. Most credit card processors do not reimburse chargeback fees in the event of a payment dispute. Moreover, if you issue a refund to a customer, Stripe does not charge a refund fee, but you will not be reimbursed for the initial transaction cost of the refunded payment.
How much does Stripe cost per month?
Stripe charges different rates and per-transaction fees depending on the transaction being conducted and how the customer is paying for those goods and services.
Here’s a closer look at Stripe’s rates and fees:
- Domestic debit card and credit card payments: When you accept domestic debit cards or credit cards, regardless of the brand, you will pay a 2.9% rate plus 30 cents for each