We’ve been hearing more and more about Stripe, the new kid in town payment processor. But what about good old PayPal? They have developed a trusted brand and have a long history of processing payments on the internet.
Let’s do a quick review of PayPal V Stripe. Let’s look at We’ll compare each payment processor in two key categories: Transaction Fees and Customer Service. This information is sure to be of value to folks of every industry: home builders, Pasadena MD tree services, limos, house cleaning Pasadena MD and the like. These companies are sometimes not in a position to pay large banking fees. We don’t intend to declare a winner, but to point out the differences and help you make an informed decision.
The fee for PayPal is the same, 2.9% + 30¢. But, they offer discounts as volume goes up. The discounts start to kick in at $3,000 (2.5% + 30¢), $10,000 (2.2% + 30¢), and at $100,000 per month. This may look like a better deal on paper, but PayPal is sure to toss in some extra service fees that certainly complicates things.
Stripe is simple. They have a flat rate charge of 2.9% + 30¢ per charge for folks doing under $1 million in volume per year. This rate varies slightly country to country, but it’s stays flat. They won’t disclose special high volume rates or things of that nature.