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Category: STRIPE

  • What Percent Does Stripe Take? An Expert’s Guide to Stripe Pricing & Fees

    What Percent Does Stripe Take? An Expert’s Guide to Stripe Pricing & Fees

    As a leading payment processor, Stripe has revolutionized the way businesses handle online and in-person transactions. With its user-friendly interface and robust features, Stripe has become a go-to choice for merchants of all sizes.

    However, one question that frequently arises is, “What percent does Stripe take?” In this guide, we’ll dive into its pricing structures, exploring the various Stripe fees and charges associated with their payment processing services. From standard transaction fees to additional costs like chargebacks and currency conversions, we’ll provide you with an expert’s perspective on navigating Stripe’s pricing model effectively.

    Whether you’re a small business owner or a high-volume enterprise, this guide will equip you with the knowledge to optimize your payment processing expenses and make informed decisions for your business.

    What Stripe Takes

    Stripe offers two main pricing packages for payment processing, both of which are flat-rate – the Standard and Premium plans.

    The Standard Package Rates

    • 2.9% + $0.30 for online credit card transactions (Visa, Mastercard, American Express, Discover)
    • 2.7% + $0.30 for in-person payments using a card reader (i.e., point-of-sale; POS terminal)
    • 0.8% for ACH credit and debit transactions
    • 1% for wallet payments like Apple Pay and Google Pay
    • Additional fees may apply for international cards, currency conversion, chargebacks, etc.

    Stripe’s standard rates are competitive but non-negotiable for most merchants. The fees are automatically deducted from each card payment before the remaining amount is transferred to your bank account.

    The Premium Package Rates

    For larger merchants processing over $1 million annually, Stripe offers customized Premium pricing which can provide lower rates:

    • Interchange+ model passing through interchange fees plus a markup percentage
    • Potential for lower overall fees, especially for qualified card-present rates
    • Customized pricing evaluated based on projected volume, business model, risk factors

    The Premium pricing utilizes interchange-plus or cost-plus pricing, where the merchant pays the actual interchange and assessment fees from the card networks plus Stripe’s markup percentage.

    This model can yield savings compared to Stripe’s standard rates for high-volume merchants able to qualify for the lowest interchange pricing tiers.

    Non-Negotiable Fees

    While Stripe does offer customized pricing for some high-volume enterprise merchants, their standard rates are generally fixed fees and non-negotiable, especially for small to medium-sized businesses.

    Stripe takes a straightforward approach to pricing without complex tier systems or long-term contracts.

    The transparency and simplicity of Stripe’s pricing model is one of its key advantages, allowing businesses to easily forecast costs. However, it also means there is little room for negotiating lower baseline fees based on volume or tenure as a customer.

    The same rings true for Stripe’s top competitors in the 3rd-party credit card processing industry; PayPal and Square.

    Lowering Payment Processing Fees

    While Stripe’s standard rates are competitive, there are several strategies businesses can employ to further reduce their payment processing costs.

    Strategies to Reduce Costs

    • Encourage customers to use payment methods with lower fees like ACH direct debit or digital wallets.
    • Batch and schedule non-urgent payouts to take advantage of lower fees.
    • Properly categorize transactions to qualify for lower interchange rates.
    • Avoid unnecessary currency conversions by using multi-currency pricing.

    Contacting Stripe for Preferential Pricing

    For high-volume merchants processing over $1 million annually who are dead-set on using Stripe (even if we warn you not to at that volume), it may be worthwhile to contact Stripe’s sales team to request preferential pricing. Stripe evaluates these requests on a case-by-case basis factoring in projected volume, business model, and other criteria.

    PCI Compliance Importance

    Maintaining full PCI DSS compliance is crucial for avoiding unnecessary fees and fines from payment brands. Non-compliance can lead to higher transaction rates and monthly fees from processors like Stripe. Investing in security best practices pays off through lower overall processing costs.

    Payment Processing Optimization

    In addition to reducing baseline processing fees, there are several optimization strategies businesses can employ to further decrease costs with Stripe.

    Utilizing Alternative Payment Methods

    While credit and debit cards are popular, they often come with higher processing fees compared to methods like ACH direct debit (0.8%), digital wallets (1%), and bank transfers/wires. Offering and incentivizing these lower-cost options can significantly reduce your overall processing expenses.

    Understanding Dispute and Chargeback Fees

    Chargebacks can be costly, with Stripe charging $15 per dispute in addition to the transaction amount. Implementing fraud protection tools, clear refund policies, and excellent customer service can help mitigate chargebacks. Disputing illegitimate chargebacks is also advisable to avoid unnecessary fees.

    Reviewing and Renegotiating Statement and Annual Fees

    Stripe charges monthly statement fees, annual fees, setup fees, and other recurring costs (as does most providers). Periodically reviewing these ancillary charges with your Stripe account manager ensures you are not overpaying. For high-volume merchants, renegotiating or waiving some of these fees may be possible.

    Expanding Payment Options

    While credit cards remain the dominant payment method for many businesses, expanding your accepted payment types can unlock significant cost savings and cater to diverse customer preferences.

    Adding Alternative Payment Processing Methods

    Integrating digital wallets like Apple Pay, Google Pay, and popular Buy Now Pay Later services like Klarna allows you to process those transactions at lower rates compared to credit cards. ACH bank debits and wire transfers also tend to have much lower fees.

    Market-Specific Payment Modes

    Different geographic markets may have entrenched local payment preferences. For example, iDEAL is a leading online bank transfer method in the Netherlands. Accepting these regional payment options can reduce cross-border fees and enhance the checkout experience for international customers.

    Expanding your international payment processing capabilities is a wise strategy to reduce Stripe’s cut of each sale while also improving conversion rates and providing payment flexibility for your global customer base.

    Cost-Plus Pricing Strategy

    For some larger merchants, Stripe offers customized cost-plus pricing that can potentially reduce processing fees compared to their standard rates. However, this option requires meeting certain criteria.

    Exploring Cost-Plus Pricing with Stripe

    Stripe’s cost-plus pricing model passes through the actual interchange and assessment fees from the card networks to the merchant, plus a fixed markup percentage. This can yield savings for businesses with significant transaction volumes, particularly for qualified rates.

    To be eligible, merchants generally need to process over $1 million annually and have very low chargeback rates. Stripe evaluates cost-plus pricing requests individually based on projected volume, average ticket size, customer verticals, and other risk factors.

    Transaction Types and Customer Data

    The fees on a cost-plus plan can vary significantly based on transaction types (e.g. card-present vs card-not-present) and the data transmitted. Providing complete billing/shipping details and level 3 line-item data can help qualify for lower interchange rates from the card brands.

    Level 2/3 Data and Fee Reductions

    Businesses able to pass along level 2 and level 3 transaction data pay lower interchange rates compared to those only providing level 1 data. This richer data allows the card networks to better categorize and qualify each sale.

    Misconceptions about Free Payment Processing

    While the idea of free payment processing may sound appealing, there are several misconceptions that businesses should be aware of before opting for these types of solutions.

    Debunking Myths of “Free” Processing

    Many providers advertise no monthly fees or zero processing rates, but the reality is that there are always costs involved. These “free” solutions typically pass along the processing fees to the customer at checkout, resulting in higher cart abandonment rates.

    Even if the merchant doesn’t pay explicit fees, the provider recoups costs through other means like higher interchange rates, monthly minimums, annual fees, or marked-up equipment leasing.

    Implications of Passing Fees to Customers

    While passing processing fees to customers may seem like an easy way to avoid merchant costs, it often leads to a poor checkout experience at the payment gateway. Customers expect businesses to absorb these operational expenses.

    Surprising shoppers with additional fees during checkout can significantly impact conversion rates and brand perception. It also makes pricing less transparent for customers.

    Maintaining Customer Satisfaction for Online Businesses

    For online merchants, providing a seamless and transparent checkout flow is crucial for maximizing sales. Introducing unexpected costs or friction at the final step can undo all the hard work of optimizing the customer journey up to that point.

    Free online payment processing options may seem enticing, but prioritizing customer satisfaction by absorbing processing fees is generally advisable for ecommerce businesses. Profitable operations and long-term growth rely on keeping customers happy.

    While free payment processing is marketed aggressively, understanding the hidden costs and implications on conversion rates reveals why most established online businesses choose transparent, paid processing solutions especially for international transactions.

    OPEN A REAL MERCHANT ACCOUNT FOR YOUR BUSINESS

  • Unlocking Global Sales with Stripe Payment Methods

    Unlocking Global Sales with Stripe Payment Methods

    The diversity in payment preferences among customers across the globe has never been more pronounced. From the teenager in Tokyo using a digital wallet to the retiree in Rome preferring a traditional bank transfer, the variety of payment methods available today reflects the wide spectrum of consumer needs and habits.

    Stripe is a comprehensive payment processing platform designed to bridge the gap between businesses and their increasingly diverse clientele. And while we do steer people away from using Stripe as their main payment processor and gateway, we will admit the service has some great features.

    Stripe’s robust functionality supports an extensive array of payment methods, making it an invaluable tool for merchants aiming to cater to a global audience. By integrating Stripe’s payment solutions, businesses can not only streamline their checkout process but also significantly enhance their customer satisfaction and conversion rates.

    Embracing Global Payment Methods

    Customers from every corner of the world expect to be able to shop online with ease, using their preferred payment methods. This is where Stripe’s diverse payment options come into play, offering businesses the tools they need to cater to a global audience.

    The World at Your Checkout

    Stripe supports an impressive array of payment methods to ensure that no customer is left behind. Whether your customers are in Belgium using iDeal, Sofort, or Giropay, in China preferring Alipay and direct debits, Bangkok with PromptPay, or in Brazil with Boleto, Stripe has you covered. And of course, it supports the world’s leading card networks: Visa, Mastercard, American Express, and Discover (for credit and debit cards).

    However, it’s essential to carefully select which payment methods to enable. While Stripe allows for the integration of global payment options, activating them all may complicate your reporting and incur unnecessary fees. A strategic approach is to enable payment methods significant to the regions where you receive the most traffic.

    Why Diversity in Payment Options Matters

    Did you know that 9% of shoppers will abandon their cart if their preferred payment method is unavailable? This statistic underscores the importance of offering a range of payment options.

    Digital wallets like Apple Pay, Google Pay, and Samsung Pay are becoming increasingly popular, offering customers a secure and convenient way to pay.

    For regions with a high unbanked population (i.e., those without a bank account), such as Mexico, Brazil, or Indonesia, offering cash vouchers can eliminate the risk of chargebacks entirely. When you use Stripe, this allows customers to buy a voucher in person somewhere locally and redeem that voucher at your checkout in real time.

    Bank transfers and ACH payments are particularly appealing for American and European customers, offering a cost-effective alternative to credit card processing fees.

    Additionally, the integration of Buy Now Pay Later services like Afterpay and ClearPay can make higher-priced items more accessible to customers by spreading the cost over time, allowing customers to pay in installments.

    All of these methods can be accessed from the Stripe Dashboard and further investigated in their docs page.

    Also note: if you sell products in various currencies, refunds will be issued (if necessary) in that same currency. That means you could either lose or gain depending on the exchange rate at the time of the payout.

    Need more payment options? We can help!

    world map, pinpointed hotspots
    Commerce knows now bounds.

    Multi-Currency Support for Stripe Accounts

    Stripe’s multi-currency support empowers businesses to reach customers worldwide, offering a seamless and localized shopping experience. This capability is crucial for businesses looking to expand their reach beyond their domestic markets and cater to a global audience.

    The Importance of Local Currency Pricing

    When shopping online, customers prefer to see prices in their local currency. This preference is not just about convenience; it’s about clarity and confidence. Customers want to know exactly how much they will be charged without having to perform mental currency conversions.

    Moreover, pricing in a customer’s local currency can significantly reduce the risk of cart abandonment and increase conversion rates.

    For businesses, the challenge of selling in multiple regions goes beyond just accepting payments in different currencies. It involves understanding and implementing pricing strategies that resonate with local customers. This is where Stripe’s multi-currency support comes into its own, offering businesses the flexibility to price their products and services in 46 currencies.

    Navigating Currency Conversion and Pricing

    One of the hurdles of international sales is the fluctuation of exchange rates. Stripe simplifies this by automatically handling currency conversions for you. However, businesses must be mindful of the implications of currency conversion on pricing and profits. To address this, Stripe offers two key features:

    • Dynamic Currency Conversion (DCC): This feature allows businesses to automatically show prices in the customer’s local currency based on the current exchange rate. DCC is about offering convenience and transparency, ensuring customers know exactly what they will be charged.
    • Static Currency Conversion: Unlike DCC, this feature gives businesses the control to set fixed prices in different currencies. This can be particularly useful for pricing strategies that require consistency across markets, regardless of exchange rate fluctuations.

    The Impact of Currency on Customer Perception

    The psychological impact of local currency pricing cannot be overstated. Customers are more likely to trust and feel valued by a business that goes the extra mile to accommodate their local currency. This trust translates into higher conversion rates and, ultimately, customer loyalty.

    Furthermore, businesses must be aware of the nuances of international pricing. For example, the same dollar sign is used in the US, Canada, and Australia, but the value differs significantly. A customer from Canada might be deterred from completing a purchase if they realize they’re being charged in USD, which could be significantly more expensive due to exchange rates.

    By supporting multiple currencies, Stripe helps businesses navigate these challenges, fostering a positive and inclusive shopping experience for customers worldwide.

    conveyor belt with customers riding their way through checkout
    A smooth checkout process.

    Streamlining the Checkout Experience with Stripe Checkout

    The checkout payment page is the final and perhaps most critical step in the customer journey. It’s the moment of truth where the ease of completing a purchase can make or break a sale.

    Recognizing the importance of this step, Stripe offers a powerful solution: Stripe Checkout. This feature is designed to streamline the payment process, making it as effortless and efficient as possible for customers from all walks of life.

    Simplifying Compliance and Conversion

    Stripe Checkout is more than just a PCI payment gateway; it’s a comprehensive solution that minimizes merchants’ efforts in compliance while maximizing conversion rates. By integrating Stripe Checkout into your website, you can offer a checkout experience that automatically adjusts to meet the specific requirements of different regions or countries.

    This is particularly beneficial for businesses operating internationally, as it ensures compliance with local regulations, including tax calculations and customer authentication requirements.

    One of the standout features of Stripe Checkout is its support for 3D Secure (3DS) authentication. This is especially crucial for European customers, where 3DS is not just recommended but mandatory. By using Stripe Checkout, you automatically provide this layer of security, thereby reducing the risk of fraudulent transactions and increasing conversion rates.

    In Europe, failing to implement 3DS could result in losing up to 90% of conversions, making Stripe Checkout an invaluable asset for businesses targeting European markets.

    The Power of a Hosted Checkout Page

    For businesses without their own shopping cart, or for those looking to simplify their existing setup, Stripe Checkout offers a seamless solution. It can be integrated as an iframe on your checkout page or used as a fully hosted checkout page.

    This flexibility allows businesses to choose the best approach for their needs, whether it’s maintaining the look and feel of their website or opting for simplicity and security of a Stripe-hosted page.

    The beauty of Stripe Checkout lies in its simplicity for users. Customers are guided through a clear, intuitive payment process, with the option to use their preferred payment method, including credit cards, digital wallets, and local payment options.

    This inclusivity not only enhances the customer experience but also broadens the potential customer base by catering to a wide range of payment preferences.

    Customization and Flexibility

    Despite its simplicity, Stripe Checkout is highly customizable. Businesses can tailor the checkout experience to match their branding, including customizing the color scheme, adding their logo, and more. This level of personalization ensures that the checkout process feels like an integral part of the overall shopping experience, rather than a detached, third-party solution.

    Moreover, Stripe Checkout is designed for mobile app use via flexible APIs, ensuring that customers on any device can complete their purchase with ease. In today’s mobile-first world, this adaptability is crucial for capturing sales from the ever-growing number of users who shop on their smartphones and tablets.

    Your checkout page MATTERS! Get a good one here.

    vault filled with cash found by two businessmen
    Find money after checkout with these tips.

    Leveraging Stripe for Enhanced Post-Checkout Engagement

    The journey of enhancing customer value doesn’t end at the checkout page; in fact, that’s where another crucial phase begins. Stripe recognizes the importance of the post-checkout experience in cultivating customer relationships and maximizing revenue opportunities. Here’s how businesses can leverage Stripe to engage customers even after a transaction has been completed.

    Customizing the “Thank You” Page

    The ‘thank you’ page, which customers see after completing a purchase, is prime real estate for further engagement. Stripe allows businesses to customize this page, transforming it from a simple transactional acknowledgment into a strategic tool for increasing customer value.

    Here, you can offer additional products, suggest related items, or encourage customers to sign up for subscriptions or newsletters. By presenting these options at a moment when customers are already engaged, you’re more likely to capture their interest and potentially boost your sales.

    Abandoned Cart Recovery

    One of Stripe’s standout features is its intelligent approach to abandoned cart recovery. Stripe can provide detailed insights into customers who didn’t complete their purchase, allowing businesses to tailor follow-up communications effectively.

    By integrating Stripe’s abandoned cart recovery tools, businesses can automate email sequences that encourage customers to revisit their carts and complete their purchases. This not only helps recover potential lost sales but also provides insights into why customers may be hesitating at checkout, allowing for further optimization of the checkout process.

    Network Tokens for Subscription Services

    For businesses offering subscriptions, maintaining up-to-date payment information is critical to ensuring uninterrupted service. Stripe’s network tokens are a game-changer in this aspect. They securely store customer card information, automatically updating it whenever a card is renewed or replaced.

    This reduces the likelihood of failed credit card payments due to outdated card details, enhancing customer retention and ensuring steady revenue from subscriptions with recurring payments that never fail until the customer cancels.

    Uncovering “Found Money” Opportunities

    Stripe’s post-checkout features can be likened to discovering a hidden vault of cash within your business operations. By optimizing the post-checkout experience, businesses can uncover new revenue streams that were previously untapped.

    Whether it’s through upselling on the ‘thank you’ page, recovering abandoned carts, or ensuring seamless subscription renewals, Stripe provides the tools necessary to enhance customer value beyond the initial sale.

    Stripe offers more than just an online payment processing solution for ecommerce retailers; it provides a suite of tools designed to maximize customer engagement and revenue potential. By leveraging these features, businesses can not only enhance their customer relationships but also discover new opportunities for growth and profitability.

    BOOST SALES AT CHECKOUT NOW

  • Stripe Holding Funds? 2 Steps to Get Your Money Back in 2024

    Stripe Holding Funds? 2 Steps to Get Your Money Back in 2024

    Stripe is notorious for holding funds from merchants. As soon as you start scaling, when your business is going well and the road ahead looks smooth, BAM you sign into your Stripe account and see funds on hold.

    No notification, no email. Nothing. Just frozen funds and a feeling of dread. The amount varies, too.

    So, here’s what it means when Stripe holds funds and what to do to secure your business in just 2 steps.

    businessman pleading with bag of sad cash in jail
    Please, can I have my money back?

    First: Why is Stripe holding funds?

    Stripe holds funds in accordance with their services agreement. You can read Stripe’s terms on their website, but it is very long and very unfriendly to anyone who isn’t a lawyer or payments expert. Stripe typically reserves funds to protect against any type of fraudulent activity and unexpected charges that may occur when businesses raise red flags.

    Online Businesses Are High-Risk Businesses, Period

    Whether you know it or not, as an ecommerce business owner you are high-risk (most likely, anyway). Most online business models are high-risk, and high-risk businesses are not supported by Stripe. Therefore, they are not able to use Stripe.com’s payment services. High risk means there is a higher risk of chargebacks and fraud.

    Some common high-risk business types and business models include:

    • Subscription services
    • Digital products
    • Dropshipping
    • Coaching, teaching, consulting
    • CBD, pharmaceuticals, nutraceuticals
    • SaaS
    • Marketing services

    The trick is that Stripe approves every business that applies initially without performing any due diligence. That is until that business starts selling around $20k/month.

    This makes Stripe nervous. As a payment aggregator, they don’t give you a merchant account with which you can scale your business, instead they allow Stripe users to operate under their own merchant account. So as soon as you do start scaling, it becomes time for them to transition the risk away from their own merchant account and into your own, which means putting your business on hold while they figure out the next steps.

    Funds Are Held as a Security Measure

    The funds held are to protect Stripe from having to pay fees and reimbursements on your behalf. It’s a pool of funds that covers things like returns, refunds, and chargebacks.

    They won’t hold all of your funds, but they will hold 20% – 30%. But we get it; it sucks and it’s scary to not be able to receive your well-deserved payouts.

    Withheld funds harming your business? Get better payment processing here!

    How to Get Your Money Back from Stripe Holding Funds

    It can be difficult to get your funds back from Stripe depending on your situation. The payments giant won’t tell you why your funds are withheld nor give you a timeline for when you can receive them.

    Legally, however, they are only able to hold funds for 180 days.

    This post today is specifically for merchants who can still operate their store using Stripe but have a percentage of their funds withheld. If all of your funds are frozen or your shop is shut down, you can find answers here and here.

    When your shop is still operational and a portion of your Stripe account balance is frozen, then the following 3 steps are what you need to do to get that money back.

    Step 1: Find an Alternative Payment Processor

    Yes, we know how this sounds. But before you start emailing Stripe and calling lawyers and whatnot, you need to get something set up that will support your business.

    Your best option would be to open a merchant account for your business. At least start the process. While that’s under way, you can open an account with PayPal or Square. Be warned: using PayPal and other alternatives to Stripe like that will lead you down this same road—they will all freeze funds, shut down your account, and create problems for you in the future.

    Step 2: Request Your Funds BEFORE the Release Date

    Stripe will notify you of the proposed payout schedule of your withheld funds in the email or letter that you’ve received.

    DO NOT WAIT UNTIL THAT DATE TO TAKE ACTION!

    It will only hurt you if you wait that long. Instead, you need to contact Stripe support. They have no customer support team phone number and using their online chat or support email won’t get you anywhere.

    Send a physical letter to:

    354 Oyster Point Boulevard

    South San Francisco, CA 94080

    This is the mailing address for Stripe’s US office. Send it through a paid certified letter and require a signature as well as add tracking. This way, you know where in the country it is, when it has arrived, and who received it.

    The letter should be made on a professional letterhead and contain the following information:

    • account details
    • business name
    • business address
    • account number
    • your name
    • your address
    • how much money they are holding
    • when they told you it would be released
    • ways you’ve tried to get in touch with them
    • lack of responses to multiple inquiries (if applicable)

    If you’re sending this before the proposed release date, request 50% of the funds. If after, request 100% of the funds.

    Do not write an emotionally-charged letter. Keep the emotions out. Get it all out of your system first, then write the letter in a professional manner. Explain that your business and employees are in jeopardy due to this hold, so immediate action is necessary.

    Sign it in wet ink.

    Scan, copy, and email this letter to: [email protected].

    businessman holding up hand to stop thief from stealing briefcase
    Stop right there!

    What can I do to stop Stripe from holding funds again?

    We have 3 easy steps for you to ensure that Stripe can NEVER hold money from you again. These steps are something you should follow, anyway, but if Stripe has already gotten a hold of your account then you need to ACT NOW.

    1. If Stripe Has a Temporary Hold on Your Money…

    open a backup processor account. We know we said this before, but it is the first step in every scenario.

    Stripe is holding your money temporarily for now. In the future, it won’t be temporary. It will lead to your gateway being inaccessible, your store getting shut down, and your small business destroyed. We’ve seen it happen before. Act now before Stripe takes another step closer to ruining your business.

    Finding another credit card processor is the most important thing you can do right now. Any processor will do, as long as you open it ASAP. DirectPayNet can help, it’s what we do best. But if you’re looking for something quick (as in a temporary solution), you can open another aggregator account.

    This is a warning, DO NOT continue operating as if nothing has happened.

    2. When Opening a Backup Account…

    …don’t let it sit there, empty. You need to put some of your sales volume into the new payment processing account. Even just 20%.

    The account needs to be put to work, plus it looks good to have credit card processing history with multiple processors. You want those bank statements to look full so when you start up a new business in the future or want to negotiate processing fees, you’ll have some leverage.

    You can be smart about what you put through your second processor. Some of the red flags Stripe looks for include:

    • high order values
    • overseas orders
    • too many orders in a small amount of time

    You could set up your backup account to only handle big-ticket items or order values over $900. You could set one up to be solely for foreign transactions so it doesn’t handle anything in USD. You can have it activated only for Visa shoppers, or ACH, debit cards, or any other payment method. There are limitless options. But pick a path and stick to it.

    3. Transferring Your Customer Data to a New Processor…

    …can be done easily by contacting Stripe and asking them to send it to the new processor. Note that they will never send you the data, they will always send it to the other processor.

    Customer data is tokenized, so for Stripe they are called Stripe Tokens. But that tokenized data can be used with any processor. They can’t send that data unencrypted to you because it contains sensitive credit card payment information, account information, and more. It’s just part of being compliant.

    This is how you can preserve important customer data without asking them to reenter their information for things like saved shipping addresses or subscriptions.

    Bonus! Customer Data Doesn’t Have to Be Stored with the Processor…

    …you can use a vault instead. Tokenized customer data is always stored in a vault, but most of the time business owners don’t realize it and they use 1st-party vaults. For example, a Stripe Token is held in the vault built and maintained by Stripe. Your new processing company and gateway will also have a vault where that data is stored.

    BUT you could use a 3rd-party vault and keep that data outside of those processors. The benefit would be that you don’t have to worry about losing the data or corrupting it when transferring to new processors. It would always be in your hands and under your control.

    Never get your funds held by Stripe again!

    Stripe payment processing might be easy to sign up for, but it’s not so easy to keep a business running on.

    Get a PCI-compliant payment processor and payment gateway now through DirectPayNet. We connect you with a payment provider that works for your business—no hidden fees or threats. Just a processor and a gateway that work exactly how you need it with all the functionality that will take your business to new heights.

    Speak with us today to open your own, real merchant account.