Stripe

Stripe is a payment processing company that allows businesses to accept credit card payments online and in-person. Stripe can be used for both retail and ecommerce transactions.

With Stripe, businesses can process credit card payments, as well as payments from other sources such as ACH, Apple Pay, Google Pay, and more. Stripe also offers a variety of features for both online and retail transactions, such as:

• Online payments: Stripe allows customers to make payments on a website or mobile app using their credit/debit card.
• In-person payments: Stripe also offers a point-of-sale (POS) system that allows businesses to accept payments in-store using a mobile device or tablet.
• Recurring payments: Stripe also allows businesses to set up recurring payments for subscription-based services or recurring invoicing.
• Fraud protection: Stripe provides fraud protection to help businesses prevent and detect fraudulent transactions.
• Stripe does not accept certain types of businesses, such as those that sell illegal or restricted items, such as weapons, tobacco, and certain types of adult content.

Stripe charges a fee for each transaction, which typically includes a percentage of the transaction amount plus a fixed fee. The exact fees vary depending on the type of account and the location of the business.

Here are some of the main features of Stripe:

1. Credit card processing: Stripe allows businesses to accept credit card payments from customers, including Visa, Mastercard, American Express, and more.
2. Multiple Payment Methods: Stripe supports multiple payment methods such as ACH, Apple Pay, Google Pay, and more
3. Recurring payments: Stripe allows businesses to set up recurring payments for subscription-based services or recurring invoicing.
4. Customizable checkout: Stripe allows businesses to customize the checkout experience for customers, including the ability to add custom fields and branding.
5. Fraud protection: Stripe provides fraud protection to help businesses prevent and detect fraudulent transactions.
6. Mobile payments: Stripe offers a point-of-sale (POS) system that allows businesses to accept payments in-store using a mobile device or tablet.
7. International payments: Stripe supports payments in multiple currencies and allows businesses to accept payments from customers in different countries.
8. Subscriptions and billing: Stripe allows businesses to manage subscriptions, track customer billing history and set up automatic payments.
9. Analytics and reporting: Stripe provides detailed analytics and reporting to help businesses track their payments and understand their customers.
10. Secure and compliant: Stripe meets the highest industry standards for security and compliance, including PCI DSS and SCA.
11. Easy integration: Stripe offers easy integration with various platforms such as WooCommerce, Shopify, Magento and more.
12. API: Stripe has a powerful API that allows businesses to customize and automate their payment processing.

These are just some of the many features that Stripe offers to businesses, and Stripe is constantly working to improve their services and adding new features.

Stripe is a global platform and it can be used internationally for businesses, as long as the business is in compliance with Stripe’s terms of service and applicable laws.

Stripe reserves the right to close a business account and hold funds if it suspects illegal activity or violation of its terms of service. However, Stripe will usually provide notice and give the account holder the opportunity to resolve any issues before taking this action.

Stripe has certain restrictions on the types of businesses that it will work with. Stripe does not accept businesses that sell certain types of goods or services, including but not limited to:

• Adult content or services
• Alcohol
• Controlled substances, drugs, and drug paraphernalia
• Counterfeit items
• Embargoed goods
• Hazardous materials
• Gambling
• Illegal items or services
• Prescription drugs
• Regulated goods, such as weapons and fireworks
• Stolen goods
• Virtual currency that can be monetized, re-sold or converted to physical or digital goods and services or otherwise exit the virtual world
• Any other activities that violate laws or regulations

It’s important to check Stripe’s terms of service and merchant agreement for a complete list of prohibited items and services. It is also important to note that Stripe may place restrictions on a business account or close it if it suspects illegal activity or violations of its terms of service.

It’s also important to note that Stripe compliance department may ask for additional documentation to verify the business, and may put a hold on the account if they suspect any fraudulent activities.

The pros of using Stripe include its ease of integration, ability to accept multiple types of payments and built-in fraud protection. However, the cons include transaction fees and the potential for account holds or closures if Stripe suspects illegal activity or terms of service violations. Additionally, some customers may not have credit cards and that could limit their ability to purchase from you.