Are you an entrepreneur and want to grow your business online? Looking for a simple and full-stack payment processor for your business? Today many sellers turn to Stripe to simplify the checkout process for their small-businesses. This article will walk you through Stripe's key features and how to use it in your Internet business, along with a brief history and Stripe Payment.
Stripe is an Irish-American financial services and Software as a Service (SaaS) company with dual headquarters in South San Francisco, California, United States and Dublin, Ireland. The company i.e. Stripe generally primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.
What is Stripe Payment Service?
Learn about Stripe, an online payment processing and credit card processing platform for businesses. When a customer purchases a product online, funds are required to be provided to the seller.
And this task Stripe does easily. Stripe allows for the secure and efficient processing of funds by credit card or bank, and those funds are transferred to the merchant's account.
So Stripes software includes both a payment processing platform, as well as a credit card payment gateway. As every successful online transaction requires both processes. This makes it the most efficient and easy software to choose for online payments.
How does Stripe work?
Stripe has simplified their service process for business owners to make it easy for them to understand and navigate.
Stripe Payment Process:
When you create a Stripe account for your business, the Stripe software will connect to the purchase page of your store's platform.
When a customer is ready to purchase an item or service and 'checkout', they input their financial information on the purchase page.
The information is then sent from the website to Stripe, which then verifies through Stripe software that the funds are available (payment gateway). And it completes the payment process before sending it to the merchant account
In the final step the merchant receives the funds, and a confirmation of the sale is sent to both the buyer and the seller.
Other's payment service info:
How does Stripe protect against fraud?
If an error occurs in the online payment process (such as insufficient funds in the customer's account), Stripe declines the transaction and provides notice to the customer to use a different payment method.
Stripe also monitors closely for fraudulent transactions and automatically blocks any transactions that appear suspicious.
So implementing a combination of spending limits and merchant controls on Stripe cardholders will help eliminate your business' exposure to fraudulent activity.
Why and who uses stripes?
Stripe is known for providing strong security, and has some of the best development tools in the payment processing industry—making it a highly sought-after resource by online companies. If you're interested in learning more about using Stripe for your own small business, consider all the successful companies that trust Stripe services. Because it does – Stripe is used by big brands like Lyft, Amazon, Shopify and Pinterest.
The company claims that about 90% of all personal credit cards are processed through Stripe's software.
If you're likely to use Stripe for your own purchases, why not use Stripe to power your business transactions?
Business models supported by Stripe are:
- Ecommerce site
- Retail online store
- B2B platform
- Software as a Service
- B2C marketplace
- Nonprofits and fundraisers
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