You could also consider more direct, ‘like-for-like’ competitors: other payment gateways.
The aim for payment gateways, just like Stripe, is to let businesses be able to take payments online. Inevitably, this means businesses hit the same issues and challenges that you would with Stripe.
That said, between the payment gateway competitors, you’ll see a variety of costs, services, payment methods, integrations, third-party tools, and additional features.
Here are some of the main alternative payment gateways to Stripe:
Braintree is a good platform to run alongside or instead of Stripe, especially if you are looking for a PayPal integration.
Having been acquired by PayPal, it has native integration which means it’s a great fit for businesses selling B2C or lower price B2B, especially in European markets where PayPal is the preferred digital wallet.
With Braintree, you still need to set up subscription billing, analytics, and localization tools, as well as keeping on top of global sales tax compliance (which can be a job in itself).
Stripe and Braintree both offer a similar service with similar performance rates, all at a similar price point. Great for businesses looking to get up and running quickly, but the number of manual integrations and extra tools needed may slow them down in the long run.
Undoubtedly one of the most popular and trusted payment methods or digital wallets out there, PayPal makes online payments easy (and secure). As mentioned, it’s a solid contender for businesses who sell B2C or into European markets.
As it’s only one type of payment method, PayPal is typically run alongside another payment gateway to offer more payment choices.
In fact, due to its popularity, it’s pretty essential for the majority of businesses to have PayPal as an option.
Adyen is an enterprise-focused payment company with powerful payment features. Adyen has built out its own acquiring banks in key global markets. It works particularly well for large businesses that have dedicated engineering teams to manage and maintain their revenue infrastructure. Only recently have Adyen opened up to smaller businesses migrating over.
Compared to Stripe, Adyen has fewer turnkey features given their enterprise focus. Many of their features will take more integration effort to build on top of - particularly with subscriptions, taxes, SaaS metrics, and reconciling with invoiced wire transfers.
In terms of cost and value, their transaction fees are adjustable according to your payment volume. With Adyen, this is generally on an Interchange++ model, not a fixed % transaction fee.
Checkout.com is a fast-growing payment service and is mostly used by mid-market and enterprise companies.
Pousaz, their CEO had this to say on Stripe vs. Checkout.com: “We only do enterprise. We really only work with the big merchants. There are a few exceptions here and there but it’s mostly enterprise-only and it’s purely online”.
With an extensive choice of payment methods, as well as having the appealing features of transparent pricing and payment routing, you can see why Checkout.com is a favorite among the big businesses.
However, it still faces the challenges of being a single service provider as with other payment gateways.