Stripe and Square are leading the online payment industry. After the arrival of COVID-19, the online payment industry is blooming rapidly. People are giving more importance to online transactions. They even are making cashless transactions in the retails stores. Therefore, if your business does not accept online payment, you might not get fruitful outcomes from your business. You must have an online payment gateway in order to accept payment online. If we consider the present situation, there are many online payment processors available. Among them, PayPal, Stripe and Square are very well-known. If you want to start an online business, you must know the core features of these online payment gateway providers. Considering this point in mind, here, we have made a brief breakdown of Stripe and Square. It will help you to get to know what they are actually offering. So, have a look at the following points:
Well, the Headquarter of Stripe is in San Francisco, California and the company was established in 2012. Stripe is one of the most efficient online payment solutions that offer APIs. APIs help the web developers to integrate the Stripe payment processing system into their websites and applications. It helps the merchants to create their own marketplace where it will work as a middleman and complete the online transaction.
Tools Offered By Stripe
The company offers various payment tools that make the online payment processing very simple. The tools are as follows:
- Subscription, invoicing and recurring billing tool
- In-app purchase and online checkouts tools
- Tools for credit cards, localized payment methods and ACH
Along with it, the platform also has some additional features such as Stripe Connect, Stripe Rader, Stripe Issuing and Stripe Sigma.
Square is one of the best payment service providers that are rich in features. It has so many features that new online merchants might get confused to see them. Well, we have elaborated the features below in order to give you a solid idea about these.
mPOS application is also called Square Point of Sale. The application has the capability to accept all forms of credit. Along with it, it is capable of issuing full as well as partial refunds. It also provides supports for cash drawers and invoicing.
The advanced online payment feature allows the merchant to accept credit card payments online. It is very simple and reliable. Therefore, new online merchants will not have any problem.
Invoicing And Virtual Terminal
The other important features of Square are Virtual Terminal and Invoicing. A virtual terminal allows the merchants to accept online payment from anywhere.
So, this is a brief breakdown of these two leading companies- Stripe and Square. We hope that this article would be helpful for you.