Authorize.net and Stripe are two efficient payment processors. We are living in an era where technology is playing a very important role. If we consider the present situation, people are giving more preference to online and contactless transactions. Therefore, merchants are implementing new strategies to cope up with the situation. Well, when it comes to accepting payment online, merchants must have access to an online payment gateway. There are many companies such as Authorize.net, Stripe and PayPal offering online payment gateway to the merchants. If you are new to online business, you might get confused. Different company has their own rates and features. Here, we have made a brief comparison between Authorize.net and Stripe in order to give you a concrete idea about it. So, have a look at the following points:
Authorize.net was established in 2007 and the company has already provided online payment gateway to more than 400,000 merchants. Here we have added the attractive features that you will get after choosing Authorize.Net as your payment processor.
- Merchant Account: Well, if you already have a merchant processor, you still can choose Authorize.net as your alternative payment processor. If you don’t have one, you can set up a new account with the help of it. Authorize.net offers flat-rate pricing. Therefore, if you have a small business, it will be an ideal option for you.
- Virtual Point Of Sale: Virtual Point Of Sale works like a virtual terminal. You can accept online payment from anywhere you want. Moreover, the new version has a BBPOS Chipper card reader. It has the capability to accept EMV cards and magstripe standard cards.
The best part of Authorize.net is that it does not have any setup fee. Here we have added the pricing list:
- Payment Gateway + Merchant Account: The monthly gateway is $25 whereas the transaction processing fee is 2.9%+ $0.30
- Payment Gateway Only: The monthly payment gateway is $25 and the daily batch fee is $0.10
Stripe is another renowned payment processor that offers online payment gateway. The features are as follows:
- Payment Processing Service: If you want a fast and reliable processing service, this will be an ideal option for you. It is basically a third-party processing service and therefore, you will get instant approval of the payments and your account will be minutely scrutinized.
- Developer Tools: It also has various tools that will help you to make changes to your website.
Here, we have added the ACH and credit card transaction rates of Stripe.
- ACH: 0.8% (capped at $5)
- Credit Cards: 2.9% + $0.30
So, this is all about the comparison between Authorize.net and Stripe. We hope that this article would be helpful for you.