Introduction
As online transactions continue to grow, merchants need reliable payment processing technology to collect payments quickly and securely. Stripe and Authorize.net are two of the most popular payment processors on the market. In this blog post, we will compare Stripe vs. Authorize.net and provide an unbiased look at each platform's pros and cons. So let's dive in!
Stripe
Stripe is a payment gateway that allows merchants to accept payments from customers online. It is easy to set up and requires minimal technical knowledge. Stripe's payment processing fee is 2.9% + $0.30 per transaction, which is slightly higher than Authorize.net's 2.9% + $0.30 per transaction. However, Stripe's fees are transparent and do not include any hidden costs.
Stripe also offers a variety of features, including:
- Mobile payments
- Recurring billing
- Fraud detection
- Detailed analytics
- ACH payments
- Apple Pay and Google Pay integration
Stripe's user-friendly interface makes it easy for merchants to manage their payments and track their sales in real-time. Stripe currently accepts payments in over 135 currencies and is available in more than 40 countries.
Authorize.net
Authorize.net is a payment gateway that allows businesses to accept payments online or through mobile devices. With Authorize.net, merchants can securely accept credit card payments and e-checks. Authorize.net's payment processing fee is 2.9% + $0.30 per transaction, which is slightly less than Stripe's fee.
Some of Authorize.net's features include:
- Payment security
- Recurring billing
- Fraud detection
- Customer information management
- Invoicing
- E-commerce integration
Authorize.net also provides merchants with real-time payment processing and detailed reporting. Authorize.net is available in 33 countries and accepts payments in over 100 currencies.
Stripe vs. Authorize.net: Which is better?
Both Stripe and Authorize.net offer similar features, but there are a few key differences. Stripe is easier to set up and provides a more transparent pricing structure. Stripe also offers more payment options and has a more user-friendly interface. However, Authorize.net provides more comprehensive security features and is ideal for larger businesses that require more customization.
In terms of pricing, Authorize.net's fee is slightly lower than Stripe's fee. However, Stripe's transparent pricing structure makes it easier for merchants to understand their costs, whereas Authorize.net's fees can be confusing for some users.
Ultimately, the choice between Stripe and Authorize.net comes down to individual business needs. Smaller businesses may find Stripe to be a better option due to its ease of use and straightforward pricing, whereas larger businesses may require Authorize.net's more robust feature set and advanced security options.
Conclusion
Both Stripe and Authorize.net are reliable payment processing technologies that offer a range of features for merchants. However, each has its strengths and weaknesses. When choosing between Stripe and Authorize.net, merchants need to consider their business needs and how each platform can meet their specific requirements.
Regardless of which platform you choose, rest assured that you will be able to accept payments from customers quickly, easily, and securely.
References
- Stripe. Accessed Feb 22, 2022. https://stripe.com/pricing
- Authorize.net. Accessed Feb 22, 2022. https://www.authorize.net/solutions/ecommerce/pricing/