Best Stripe Competitors & Alternatives 2024
Need to install a POS system you’re not yet convinced on going with Stripe? Here, we explore four Stripe alternatives, including Square and Paypal.
Stripe is a payment processing and financial services solution for businesses of all sizes. In other words, it allows you to receive debit and credit card payments, ACH debits, and international payments — online and in person.
Since you’re looking for Stripe competitors, you likely understand that this solution is well-known, secure, and supports multiple payment options. However, you may not be fully convinced due to its high processing fees or because it’s simply not available in your region.
So you can review multiple software options, see pricing data, and compare key features, here are four Stripe competitors to consider.
Best Stripe alternatives: Quick overview
Key decision-making factors for each of these payment processing services:
Square
Square enables businesses to sell goods and services and process one-time or recurring payments online and in-store. It also comes with tools to simplify business operations, like a shift scheduler or marketing campaigns manager through a CRM.
Key features
- Flexible point-of-sale (POS). Manage inventory, process online and in-person sales, and handle order pick-ups or delivery. This POS works for online and physical stores, brick-and-mortar, multi-location, and seasonal shops.
- Square Checking. Use this functionality to manage your cash flow by reviewing your real-time sales and accessing the money immediately after you receive a payment.
- Multi-location management. Streamline multiple locations management from a single dashboard, including inventory, employees, and sales reporting. You can also customize settings, pricing, and inventory per location through a unified system.
Who it’s for
Square is best for restaurants, retail, and beauty businesses of all sizes that have operations online and in physical stores. It’s mostly used in the UK and the US.
Unique selling points and things to consider
Square stands out because it offers transparent pricing and all of its solutions come with free data for analytics. It also allows users to customize solutions via API integrations.
Square pricing breakdown
Square comes with a Free plan that only charges users a processing fee, which varies from 2.6% + 10 cents to 3.5% + 15 cents depending on the payment option. For instance, the credit card processing fee tends to be higher than other types of online transactions.
This solution also offers a Plus plan that starts at $20 per month and allows users to customize invoices, schedule milestone-based payments, and project tracking.
Get a better deal by negotiating Square rates with Vendr.
PayPal
PayPal is a digital wallet and an online payment system that allows users to send and receive money around the world. It offers financial services to small and large businesses so they can process transactions online or in person.
Key features
- Mobile card reader. Get paid via a wireless payment gateway that connects to smartphones or tablets — perfect for on-the-go services.
- Integrated payments. Accept credit and debit card payments, as well as PayPal transactions, including PayPal Credit and PayPal Here for installment payments.
- Invoicing. Send online invoices for customers to pay directly through a link and use their preferred payment method.
- Mass payouts. Pay multiple recipients at the same time and in their preferred currency. You can use this to run payroll, pay suppliers’ invoices, or reimburse users.
Who it’s for
PayPal financial services are suitable for small to enterprise-level businesses, including retail, travel, insurance, ticketing and events, and other online and in-person business models.
Unique selling points and things to consider
You should consider PayPal as it’s highly secure and has complete fraud prevention policies. It also comes with a user-friendly interface and allows you to receive and pay others in multiple currencies.
PayPal pricing breakdown
PayPal charges different fees depending on the selling point. For instance, you’re charged 2.59% + $0.49 when customers use a debit or credit card online, and 2.29% + $0.09 per in-person transaction. The price also varies from domestic to international transactions, currency, and payment type.
There are no additional monthly fees. However, you need to pay for the POS terminal hardware which ranges from $29 to $239.
At Vendr, we’ve already negotiated four unique deals with PayPal, contact us and get a better price.
Adyen
Adyen is a payment company that enables you to accept online and in-person payments. It comes with a comprehensive POS system designed for businesses of all sizes, becoming the only solution you need for managing all financial operations.
Key features
- In-person terminals. Adyen offers a range of hardware options that support tap-to-pay, on-the-go payments, self-service business, and static POS — all connected to a centralized system.
- Global payment support. Allow international customers to easily make purchases with Adyen as it supports multiple payment methods and currencies.
- Customer insights. Build better connections with your customers by using Adyen customer behavior tracking features. This allows you to adjust to their preferences to improve marketing and sales strategies.
Who it’s for
Adyen is ideal for medium to large enterprises that require a centralized, global payment solution that can handle high transaction volumes and diverse payment methods. It is suitable for businesses with both physical retail operations and online sales who want to unify their sales coming from their stores and e-commerce platforms in one place.
Unique selling points and things to consider
Adyen stands out due to its revenue acceleration feature. It leverages machine learning so you can get insights on how to become more cost-effective, reduce involuntary churn because of customers re-attempting declined transactions, and reduce friction at checkout.
Adyen pricing breakdown
Adyen charges per transaction based on the payment method and region, with fees generally ranging from 0.5% to 5.0% + a flat rate of € 0.11.
You may need to pay additional fees for other internal solutions that go beyond payment, such as customer insights solutions.
We’ve already negotiated 8 deals with Adyen. Get a demo to explore how you can also pay for this service at a lower price.
Clover
Clover offers a flexible POS system with a mix of hardware and software solutions for different business needs. It comes with tools for managing sales, inventory, and customer interactions.
Key features
- Customizable hardware. Choose from a variety of POS terminals, from basic countertop models to advanced kiosks with touch screens, and kitchen display systems.
- Employee management. If you manage a shift-based operation, Clover lets you manage scheduling, time tracking, and employee roles and permissions.
- Customer management. Build customer profiles, track their purchase history, and manage loyalty programs. You can also message customers directly and show appreciation to drive more sales.
Who it’s for
Clover is suitable for small businesses, including retailers, restaurants, and service providers. It’s great for shift-based operations as it offers more than point-of-sales systems and payment processing solutions.
Unique selling points and things to consider
Clover comes with more than just POS, it’s an all-in-one solution for business operations. It lets you receive payments, track inventory, and manage your customer and employee relationships.
Clover pricing breakdown
Clover’s pricing model contains a mix of hardware, software, and transaction fee costs. The POS devices range from $279 to $3,499 plus a monthly fee. Then, you’ll need to pay a monthly price for business tools, such as inventory and order management for each type of business, which start around $14.95 per month.
Plus, transaction fees start at 2.6% + 10¢ each.
Save on payment processors (and other SaaS tools) with Vendr
Whichever Stripe alternative you choose, we can help you get the lowest price for your solution. At Vendr, we’re a team of expert SaaS negotiators who’ve already built relationships with the sales teams of Stripe, Square, PayPal, and Adyen.
This means, we know exactly which negotiation levers to use and what are valid trade-offs to mention during the price conversation to find cost savings. You’ll be able to accept global, physical, and mobile payments in your business without paying high fees.
Plus, our Marketplace allows you to easily find the SaaS tools you need and secure the lowest price—fast and without the hassle.
