Stripe is a payment processing company founded in California in 2010. Officially, the company’s name is simply Stripe, but sometimes Stripe Payments or Stripe Credit Card Processing is also found online. Stripe is what’s called an aggregator, meaning it doesn’t provide companies with separate merchant accounts, but rather combines them under one umbrella account.
The company has well-known investors such as PayPal co-founder and Tesla Motors founder Ilon Musk, as well as well-known customers such as Twitter, Kickstarter, Lyft, Reddit and Salesforce. Stripe works with thousands of businesses and processes billions of dollars worth of payments each year. It is also known as a “developer-friendly” platform because of its extensive documentation.
Stripe is a new payment system
Stripe sustem uses a fixed-rate pricing model, with customers paying a fixed percentage per transaction. Rates vary for in-person and online payments, and customised pricing is available for businesses processing more than $100,000 per month.
Stripe online casino accepts multiple payment methods, including all major debit and credit cards, as well as payments in more than 135 currencies. The multi-currency payment processor also supports several wallet payment methods, including Alipay, Amex Express Checkout, Apple Pay, Google Pay, Microsoft Pay, Masterpass by Mastercard and Visa Checkout.
Payments are typically transferred within two business days in the US; timelines vary in other countries. There is a deposit period of 14 calendar days for businesses in high-risk industries. Disbursements, although made daily, will be transactions processed two weeks in advance.
You can also request instant payouts for a 1% commission, even on weekends and public holidays. The money is usually transferred within 30 minutes. The payment will be made to the debit card you add to your Stripe account.
Security in the Stripe system
Stripe save protects your business from fraud with Radar, a machine-learning fraud system that learns from the data of millions of global businesses to help differentiate between fraudulent and legitimate purchases.
You can add an extra layer of security with 3D Secure, which offers customers a verification step before making a purchase. When charges are disputed, Stripe security provides a continuous automated dispute resolution process that works directly with card networks. Stripe also offers a PCI compliance guarantee at no additional cost.
Advantages and disadvantages of Stripe
- Excellent tools for casino developers;
- Predictable fixed price;
- Advanced reporting tools;
- Ideal for international merchants;
- Excellent marketplace tools;
- Exceptional subscription tools;
- Stripe multi-currency support.
- Problems with account stability;
- Not suitable for high risk industries;
- Requires technical skills for implementation.