Stripe or SagePay - Which Is The Best Choice?

TL;DR Compared to SagePay (and many other payment gateway alternatives), Stripe is the market leader. It is cheaper, faster and has a much larger user-base which means customers are familiar with it.

What is Stripe?

Stripe is a simple way to accept payments online. With Stripe you can accept Visa, MasterCard, American Express, Discover, JCB, and Diners Club cards directly at your store checkout.

The Stripe online administration portal allows you to track payments, customer details and more.

Benefits of Stripe

Stripe has a simple, per-transaction fee structure and is relatively straightforward to implement. Money is transferred automatically to your designated business bank account within 7 days.

When a customer pays, they are set up in Stripe as a customer. If they return to your store and create another order, they can check out using the same card. This is a massive timesaver for returning customers and speeds-up the checkout process which is great for encouraging repeat purchases.

A streamlined checkout process means faster checkout times and improved conversion rates for online stores.

Stripe User-base

Stripe has a much larger userbase than SagePay and it's growing at a much faster rate. Customers have become accustomed to the uncomplicated checkout experience that Stripe provides.

Security

With proven fraud protection, Stripe actively protects your business from fraudulent charges and monitors any suspicious transactions. Stripe meets PCI-DSS requirements for online payments. It is certified to PCI Service Provider Level 1, the most stringent level of certification.

Stripe Fees

There are no setup, monthly or hidden costs. Stripe charges a percentage-based fee each time you accept a credit or debit card payment. The price is the same for all major cards. There’s no additional fee for failed charges or refunds.

Earnings are transferred to your bank account on a 7-day rolling basis.

Per-Transaction Charges (UK)

  • 1.4%  + 20p (European Cards)
  • 2.9%  + 20p (Non-European Cards)

Payment Disputes

  • £15.00 or £0

Disputed payments, such as chargebacks, incur a fee. If the customer’s bank resolves the dispute in your favour, the fee is fully refunded.

Stripe vs. SagePay - Fees Comparison

The following figures are based on 30 orders per month at £100 avg. order value. Order payments are split equally between Visa Debit and Mastercard Credit cards. The SagePay Flex Plan (up to 350 transactions per month) is charged at £19.90 /month.

Stripe Fees - £48.00

Stripe Monthly Fees

SagePay Fees - £53.10

SagePay monthly fee

Source: PaymentBrain payment gateway comparison service.

Requirements / Cost to implement

The WooCommerce Stripe Payment Gateway plugin is currently free. We install and configure the plugin as part of our Maintain Plus monthly plan.

The WooCommerce Stripe Payment Gateway plugin requires TLS security (SSL) to be implemented on the hosting server. Don't have SSL? We need to talk!

Further Reading

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