What is Stripe?

Stripe is a global payment service provider that enables businesses to accept and manage payments online and, in some cases, in brick-and-mortar stores. With easy integration, a broad range of payment methods, and high security standards, Stripe is a popular choice in e-commerce.

Supported Payment Methods on Stripe

Stripe offers a variety of payment methods available globally and regionally, allowing businesses to reach customers worldwide. Key options include:

1. • Credit and Debit Cards Visa, MasterCard, American Express, Discover, and more.
2. • Digital Wallets Apple Pay, Google Pay, Microsoft Pay, and WeChat Pay (depending on the region).
3. • Bank Transfers SEPA Direct Debit (Europe), ACH Debit (USA), BECS (Australia), FPX (Malaysia).
4. • Regional Payment Methods
   • iDEAL (Netherlands)
   • Bancontact (Belgium)
   • Giropay (Germany)
   • Klarna (Europe and USA)
   • Alipay (China)
   • Afterpay/Clearpay (Australia, New Zealand, UK)
5. • “Buy Now, Pay Later” Options Klarna and Afterpay/Clearpay, ideal for customers who prefer to pay later.

PayPal Integration with Stripe

Can Stripe integrate with PayPal? Yes, it is possible to integrate PayPal with Stripe – but only in certain regions and under specific conditions.

Key Requirements for PayPal Integration

1. Supported Regions: PayPal integration through Stripe is only available in certain countries, including the EEA, the United Kingdom, and Switzerland.
2. Required PayPal Business Account: An active PayPal business account is necessary to enable the integration.
3. Setup via Stripe Dashboard: Once signed in to Stripe, businesses can activate PayPal in the “Wallets” section and link it to their PayPal account.

Fees for PayPal Transactions via Stripe

In addition to Stripe’s fees, PayPal-specific transaction costs apply. Therefore, the total fees may be higher than for standalone Stripe or PayPal transactions.

Stripe Fees

Stripe fees vary depending on the region and payment method. Common fees include:

• Credit and Debit Cards: 1.4% + €0.25 for European cards, 2.9% + €0.25 for international cards (in Europe).
• Digital Wallets: Same fee structure as credit cards.
• Bank Transfers: SEPA Direct Debit: 1% + €0.35 per transaction, ACH Direct Debit: 0.8% per transaction, capped at $5.
• Regional Payment Methods: Fees for iDEAL, Bancontact, Giropay, and Klarna vary between 1.4% and 2.9% per transaction.
• Stripe Tax: An additional 0.5% fee on transactions with automatic tax calculation.

Security with Stripe

Stripe meets the highest security standards for payment services, safeguarding transactions through:

• PCI-DSS Level 1: The highest level of security standards for payment safety.
• 3D Secure 2: Additional authentication steps to prevent fraud.
• Data Encryption: All data is encrypted during transfer and storage.

Automated Invoicing and Tax Calculation with Stripe Tax

With Stripe Tax, Stripe offers a solution for automated tax calculation and invoicing. Features include:

• Automatic Tax Calculation: Tax is automatically calculated based on the customer’s location.
• Invoicing: Automatic creation of invoices with the correct VAT, in line with country-specific requirements.
• Tax Reporting: Supports compliance with legal requirements through tax reports.

Conclusion

Stripe is a flexible and comprehensive solution for online payments, offering a wide range of payment methods, high security standards, and automated tax and invoicing management. The integration of PayPal through Stripe is a valuable option for businesses in supported regions, providing an easy way to offer customers an additional payment method.