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Streamline Your Payment Process with Stripe Gateway: A Comprehensive Guide

Stripe has a variety of features that support businesses that mainly conduct transactions online.

Stripe gateway Payment is a service provider that allows businesses to accept credit and debit cards and other forms of payment. It was officially launched in 2011 and has since expanded its reach to over 30 countries in Europe, Asia, and America. Stripe has become quite popular over the years because of its excellent service delivery.

Most of its unique features are compatible with online sales making it highly suited for businesses that mostly conduct their transactions online. Stripe’s products power subscription businesses, online and in-person retailers, and e-commerce stores. They also assist businesses in managing spending, sending invoices, getting financing, and beating fraud.

How To Accept Payments With Stripe

  1. Create a Stripe account; you can do this at All you require is your name and email address.
  2. Enter business details. Provide your business details; name, address, and business type. Your personal information will also be required here.
  3. Link your bank account. Your Stripe payouts will go to this account.
  4. Get the keys to connecting Stripe to your website.
  5. Copy and paste these keys appropriately to connect Stripe to your website.
  6. Select “build a platform or marketplace”. This will allow you to start processing payments with stripe.

Payouts are not made immediately; they take anywhere between 7-14 days after taking your first payment. The waiting period depends on what type of industry your business is in. Always ensure that “connect” is enabled on your account and that your company details are up-to-date.

How Does Stripe Process Payments

  1. The customer provides their card information either online or in person.
  2. The card data enters Stripe’s gateway and is encrypted.
  3. The data is sent to the acquiring bank by Stripe; you do not need to have a merchant account to use Stripe. The bank processes the transaction.
  4. The payment is sent to the issuing bank through a credit card network.
  5. The issuing bank approves/denies the transactions depending on whether funds are available or not.
  6. The signal is sent from the issuing bank back to the customer via the network. The customer finalizes the transaction.

After finalizing the transaction, both the business and the customer will receive a message that the transaction is complete. 

Recurring Payments

For recurring payments, Stripe can assist you in optimizing your payments, ensuring that you receive payments in your bank account regularly. Stripe billing is a great way to manage subscriptions. It allows businesses to collect recurring payments by enabling businesses to bill customers with invoices and subscriptions. The software also allows customers to manage their subscription and billing details. It synchronizes billing and payment with your workflows and automatically generates reports that show your growth and retention rates.

Credit card information is required before the payment processing process begins.

Stripe charges a flat rate for processing your transactions. The amount varies depending on the type of transaction.

  • 2.7% plus $0.05 for transactions conducted in person.
  • 3.9% plus $0.30 for currency conversion and international cards.
  • 3.9% plus $0.30 for online transactions.
  • 3.4% plus $0.30 for manually keyed transactions.

Payments Methods Accepted By Stripe

Stripe accepts a wide variety of payment options; this is one of the reasons it is quite popular.

  • Credit cards( Visa, Mastercard, American Express, Japan Credit Bureau, China UnionPay and Discover & Diners)
  • Debit cards
  • Mobile Wallets( Apple Pay or Google Pay)
  • Bank transfers
  • Stripe terminal( for in-person payments)
  • Buy Now, Pay Later( for businesses selling big-ticket items)
Mobile payment using mobile wallets is one of the payment options supported by Stripe.

Stripe also supports over 135 currencies from all over the world.

Cost Of Using Stripe

  • Stripe charges a reasonable flat rate for every transaction conducted. 
  • It offers pay-as-you-go pricing meaning you do not have to pay a monthly fee; billing will take place as needed.
  • Stripe also handles disputes and chargebacks. If a customer makes a dispute and it results in a chargeback, Stripe deducts $15 from your business account balance.

As good as Stripe is for businesses that mostly operate online, businesses operating in high-risk industries will not be accepted by Stripe. This includes businesses that deal in gambling, adult content, marijuana, certain legal services and firearms. Stripe also does not process payments from jurisdictions that it deems as high-risk.

Businesses in these high-risk industries have to look for another service provider that will offer them great online service regardless of the nature of their business.

Bankful is a great choice for businesses (especially high-risk) that conduct their transactions online. It focuses on making transactions easier by easily integrating onto a number of platforms like quick books, Wix, Shopify, Woo commerce, Magneto, Open cart and many more.

This platform offers merchants a variety of payment options like cryptocurrency,

invoicing, subscription billing, card-not-present transactions and many more.

Payment Methods Accepted By Bankful

  • Cryptocurrency: Tether, Bitcoin and Ethereum. No foreign transaction fees or exchange rates involved.
  • Credit cards: Mastercard, Amex and Visa.
  • eCheck plus, ACH and Check Imaging. Electronic payment provides payment flexibility for sender and receiver.
  • Virtual terminal:  for card-not- present transactions
  • Mobile wallets ( Apple Pay and Google Pay)
  • Buy Now Pay Later
The Bankful user interface is user-friendly; easy to understand and use.

Hosted forms and an easy to use API make processing of card not present transactions simpler. Bankful also has CRM systems, electronic invoicing and easy integration to third party shopping carts that make the user’s experience seamless.

Affiliate marketers have a robust payment gateway when it comes to Bankful. It will integrate with your website and the shopping cart for the website you are marketing for. That’s a win-win.

What Do You Get When You Use Bankful

Fraud Protection

Bankful offers fraud prevention tools that protect you from fraud without interfering with the process of transaction. This ensures that you retain your customers.

Global Reach

With a network of acquiring banks that are located worldwide and the ability to accept most of the currencies, your business has a global reach with Bankful.


Bankful is level 1 PCI compliant; this is the highest level of security for a merchant service provider. Your customers can comfortably carry out their transactions because their safety is guaranteed.

Easy Integration

Bankful has a variety of tools that enable it to easily integrate into websites, apps and shopping carts.

Great Service

The features offered by Bankful are designed by experts after careful research and planning. They offer the best solutions for your business needs.

Great Customer Service

Customer service is always available and ready to assist you whenever you have a query or you need help setting up Bankful.

Choose The Right Payment Gateway For Your Business!

With a combination of great easy-to-use features, a variety of payment options, excellent customer service, and the ability to accept multiple currencies and payment methods, Bankful is a great gateway payment service regardless of the nature of your business. Create your Bankful account today and enjoy easy and efficient payment processing.

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