Stripe Payments

Should You Add Stripe Payments To Your Ecommerce Store?

Stripe is an online payment processor that was founded in 2010. If you run an online store, there are high chances that you have come across Stripe Payments and you may be wondering whether you should use this in your ecommerce store.

Well, you are not alone. Several online merchants have found themselves in a similar situation. Some people will advise you to use this payment processor while others will caution you against using it.

So, should you use Stripe Payments in your ecommerce store?

Pros Of Using Stripe Payments

One of the biggest advantages of using this payment processor is that it applies a standard pricing approach. It charges the same rates as PayPal and other online payment processors such as Square.

However, if you are transacting higher volumes, Stripe tends to be friendlier. If you are generating business volume in the range of $80,000, you will enjoy significant discounts.

On the other hand, you can only get discounts with Square if your business is generating volumes of up to $250,000. Therefore, if you are looking for an affordable payment processor for your high-volume business, then you should opt for Stripe.

Another advantage of using Stripe Payments is its simple and free API. Stripe is renowned for being easy to work with. Therefore, if you run a small ecommerce business and you have some web development skills, you can build a custom Stripe user interface.

Also, unlike other payment processors, Stripe doesn’t charge you anything during the integration process. Apart from that, Stripe will not charge you any monthly or setup fees, unlike PayPal.

You will only incur a standard fee of 2.9% + $0.30 for all online transactions. Stripe accepts numerous payment options such as MasterCard, Visa, Discover and American Express.

Cons Of Using Stripe Payments

Poor customer service remains the biggest drawback facing Stripe Payments. Numerous people have complained that their customer service team takes ages to address issues.

Apart from that, the company has not provided any phone numbers that customers can call directly. Instead, you have to reach them via an email address.

If you are facing an issue with your account, then you will be forced to wait a little longer to get answers. Some people have also complained of the sudden closure of their accounts without clear clarification from Stripe.

Apart from that, customers who are using Stripe on Shopify have complained that the fraud prevention setting doesn’t work as it’s supposed to.

Another drawback of using Stripe is that it doesn’t refund processing fees charged whenever you issue a refund to a customer. Therefore, if your business encounters high refund volumes, then you will incur significant losses.

Also, you will require web development skills to integrate this payment processor into your ecommerce platform, unless you use Shopify. Therefore, if you don’t have these skills, then you will be forced to hire a developer to do it on your behalf which means extra costs.


Now that you have both the advantages and drawbacks, it’s easy to decide whether to use Stripe payments in your online business or not. The most important thing is to assess your needs and then determine whether Stripe Payments suits your business model.