Square: Best overall Stripe alternative

Square is an all-in-one POS solution that facilitates in-person, online, and mobile payments. When it comes to Stripe vs Square, the latter provides merchants with a payment gateway to accept payments through point-of-sale hardware (that they also provide) and online (that they also provide an avenue for through an e-commerce website builder). Even better, Square offers these at zero cost, making it a very attractive option for all business sizes.

Square’s free offerings are also not limiting — they are robust enough to be a completely viable option for startups and businesses primed for growth.

Why I chose Square

While both Stripe and Square do not charge monthly fees and offer flat-rate pricing, Square has these advantages: it has lower processing fees for card-present or in-person transactions, offers free POS and e-commerce tools, and more card reader options that are less expensive.

Stripe has higher fees for in-person transactions and requires integrations for POS and e-commerce builders. It also has limited card reader options for in-person selling as it’s primarily an online payment processor.

Square is the best Stripe alternative if budget, ease of use, and quick installation are priorities. It has no monthly fees and offers free omnichannel selling tools (POS, card reader, and e-commerce builder). Square can get you set up and started in a few simple steps, with no coding knowledge required. It also comes with scalable features that can support business growth. Custom pricing is available upon request for enterprises.

Pricing

• Subscription fee: $0.
• Online transaction: 2.9% + 30 cents.
• Invoice processing: 2.9% + 30 cents or 3.5% + 15 cents if processed using Card on File.
• ACH transaction fee: 1% processing fee, minimum $1.
• Recurring billing: 3.5% + 15 cents.
• Chargeback fee: $0 (waived up to $250 per month).

Helcim: Cheapest Stripe alternative

Helcim is a merchant account provider offering robust payment processing solutions — including support for online, in-person, invoicing, recurring billing, virtual terminal, and ACH payments. Its biggest advantage over Stripe is its interchange-plus pricing structure with automatic volume discounts, making it the cheapest Stripe alternative for business owners.

B2B businesses and those with large sales volumes, particularly above $50,000 a month, will especially benefit from Helcim’s pricing, as that is where Helcim’s volume discount starts.

Why I chose Helcim

I chose Helcim as my top pick for the best B2B payment processor and Stripe alternative primarily because of its cost-effectiveness. Helcim provides competitive pricing (interchange plus) and automatic volume discounts for those handling more than $50,000 in monthly sales. With Stripe, you only get flat-rate and custom pricing, which can get costly as you increase sales.

Helcim also offers zero-cost processing (automatic compliant surcharging), which lets you legally pass on credit card charges to customers, saving on fees. Stripe only has manual surcharging. Lastly, Helcim has free invoicing and recurring billing, which you must pay extra for in Stripe. Helcim also includes level 2 and 3 data optimization programs (to qualify for low B2B interchange rates) at no extra cost.

Overall, Helcim beats Stripe when it comes to saving on costs and fees and provides free tools that are suitable for B2B payments. Its limited integrations can be the dealbreaker for some, although Stripe has an extensive list. But for those wanting to save on fees and maximize profits based on sales volumes, Helcim is the best Stripe alternative.

Pricing

• Monthly fee: $0.
• Payment gateway fee: $0.
• Payment processing fees:
  • Interchange plus 0.15-0.4% and 6-8 cents per card-present transactions.
  • Interchange plus 0.15%-0.50% and 15-25 cents per card-not-present transaction.
  • Plus 1% international sales (Helcim specified this fee is bank-imposed and not a markup on its end.)
  • Interchange plus 0.15%–0.5% + 15–25 cents for invoicing.
  • Interchange plus 0.15%–0.5% + 15–25 cents for recurring billing.
  • 0.5% + 25 cents per transaction for domestic ACH transfers.
  • Plus 0.10% + 10 cents for American Express (AmEx) transactions.
• Chargeback fee: $15, refundable.
• Deposit speed: 2 business days.

PayPal: Best Stripe alternative for ease of use

PayPal is a household name when it comes to online payments, used by millions of consumers around the world. Merchants can use PayPal business to accept global payments from customers through various channels (online and in-person) and methods (credit cards, cryptocurrencies, QR codes, BNPL, and more).

PayPal’s easy integration process also streamlines the online payment setup across various platforms. It even provides a hosted and customizable checkout page you can easily embed in other platforms, such as social media.

Why I chose PayPal

While PayPal has a complicated pricing structure and faces the same user reports of frozen funds and accounts held by Stripe, it has advantages over Stripe, such as support for cryptocurrency and BNPL payments. In fact, PayPal is the only one featured in this list that has a native BNPL payment option; the rest only offers the option through integrations with partners.

The presence of a PayPal button in a checkout button amplifies consumer trust right away, earning itself a spot in my recommended e-commerce payment solutions. Ultimately, PayPal earned a spot as a good Stripe alternative because of its ease of use for both businesses and customers. I also recommend adding PayPal as a secondary or alternative online payment option because of the high consumer trust in the brand.

Pricing

PayPal has the most complex fee structure of the companies on our list, with special rates for different currencies and countries of origin. Below are some fees for U.S.-based businesses for comparison. See PayPal’s website for more information.

• Monthly account fee: $0.
• Payment gateway fee: $0–$25 per month.
• Recurring billing: $10 per month.
• Online card processing fees: 2.59%–2.99% + 49 cents.
• International processing fees: Plus 1.5%.
• Currency conversion fees: Plus 4%.
• Virtual terminal: $0 to $30 per month.
• Cryptocurrency conversion fee: 1%.
• Chargeback fee: $0–$20.
• Dispute fees: $15 for standard transactions; $30 for high-volume transactions.
• Instant withdrawal: 1.50% of payout volume.

Authorize.net: Best Stripe alternative for integrations and fraud protection

Authorize.net is one of the oldest and most trusted payment gateways. It is a highly flexible solution that lets businesses use their existing or preferred merchant accounts or subscribe to an all-in-one solution, which sets them up with Authorize.net’s partner merchant account providers.

Authorize.net rivals Stripe with its extensive list of integrations, too. However, what sets Authorize.net apart is its highly reputable fraud detection tool, Advanced Fraud Detection Suite, which has more than a dozen customizable fraud filters that help protect against suspicious transactions.

Why I chose Authorize.net

As one of the best payment gateways, Authorize.net does not charge extra fees for using its invoicing and recurring payment service, though Stripe does. It is also one of the two solutions featured in this list that can service high-risk merchants, which is something Stripe cannot do. I like that it is similar to Stripe in terms of extensive integrations and API extensions and also provides built-in level 2 and 3 data optimization programs like Helcim, which you need to do via integrations with Stripe.

Pricing

• Monthly fee: $25.
• Payment processing fees: 2.9% + 30 cents.
  • International payments: 1.5% per transaction.
  • ACH: 0.75% per transaction.
  • Verbal authorization: $1.20 per transaction.
• Payment service fees: $0 for recurring billing service, fraud detection, and customer management.

Adyen: Best Stripe alternative for account stability

Adyen is a global dedicated merchant account provider and direct payment processor with top-notch security tools, extensive partnerships with local banks, interchange plus pricing, and out-of-the-box and custom API solutions.

Adyen is a great Stripe alternative because it isn’t a payment aggregation platform like Stripe; merchants have their own dedicated merchant accounts, giving them control over their payment infrastructure and reducing their risk of frozen funds.

Why I chose Adyen

I chose Adyen because of its affordability and out-of-the-box solutions, which make it a solid alternative to Stripe, in addition to its being a dedicated merchant account. Adyen comes a close second to Stripe in my evaluation of best international payment gateways and is particularly the cheapest option for global high-volume and B2B businesses.

Adyen has better ACH processing fees than Stripe (40 cents markup per transaction vs 0.8% with a $5 cap) and offers interchange plus pricing. It lets merchants save even with its $120 monthly sales minimum.

Another feature that makes it a good alternative to Stripe and even PayPal is its user-friendly design. While developers can still customize Adyen using APIs, it also gives out-of-the-box software options, making it easy to use for non-technical users.

Pricing

• Monthly fee: $0.
• Monthly minimum sales: $120.
• Processing fees:
  • Interchange + 13 cents for Visa and MC, 3.3% + 23 cents for AmEx, 3%–3.95% + 13 cents for other card brands for in-person transactions.
  • Interchange + 13 cents for Visa and MC, 3.3% + 23 cents for AmEx, 3%–3.95% + 13 cents for other card brands for online transactions.
• Payment services fees:
  • Invoicing: $0.
  • ACH: 13 cents plus 27 cents markup per transaction.
• Chargeback fee: $5-$100, non-refundable.
• Deposit speed: Per programmed schedule or immediate (manually).

Shopify Payments: Best Stripe alternative for Shopify merchants

Shopify Payments is the built-in payment processing solution of Shopify, a highly-rated and widely popular e-commerce platform that small business owners and B2B alike use. Shopify merchants can easily accept payments online through their Shopify stores and in-person through the Shopify POS without setting up a separate payment gateway.

With Shopify Payments, Shopify merchants can easily manage their payments, payouts, and refunds from within their dashboards. If you are a Shopify store owner, Shopify Payments is the best Stripe alternative for an easy installation and all-in-one setup.

Why I chose Shopify Payments

Shopify Payments is a great Stripe alternative for Shopify businesses because of its easy setup and seamless integration with the rest of Shopify’s tools. I like that using Shopify Payments waives the transaction fees that Shopify otherwise charges to use a third-party payment provider. Merchants can save on processing costs while still benefiting from Stripe’s reliable infrastructure since Shopify Payments is powered by Stripe.

However, Shopify Payments is exclusive to the platform and doesn’t support instant payouts, so this will be limiting for some. However, it is still the best Stripe alternative for Shopify merchants or those considering Shopify as an e-commerce platform.

Pricing

Shopify Payments is built into Shopify merchant accounts and has a flat-rate transaction fee structure. While it does not have monthly or setup fees, you must subscribe to a paid monthly subscription to Shopify’s e-commerce platform. Shopify e-commerce plans range from $5 per month (for social selling) to $399 per month. Note that the $5 per month plan has a higher transaction fee of 5% for in-person transactions and 5% plus 30 cents for online transactions.

• Subscription fee: $0.
• Online transaction: 2.4% + 30 cents to 2.9% + 30 cents.
• Invoice processing: 2.4% + 30 cents to 2.9% + 30 cents.
• Currency conversion fee: 1.5% (U.S.) and 2% (all other supported countries and regions).
• Chargeback fee: $15.

PaymentCloud: Best Stripe alternative for high-risk businesses

PaymentCloud is the best Stripe alternative for businesses operating in industries such as CBD, vape, adult entertainment, and others, which are usually tagged as high-risk by traditional payment processors. Stripe doesn’t support such industries, and PaymentCloud offers services you would find in Stripe, such as credit card processing, ACH processing, and e-check processing.

Known for its high approval rate and hands-on approach to clients, PaymentCloud is a lifeline for high-risk merchants when other processors, including Stripe, are likely to decline their applications.

SEE: Stripe’s list of prohibited and restricted businesses 

Why I chose PaymentCloud

PaymentCloud is my top recommendation for the best high-risk merchant account. It has partnerships with more than 10 banks and assigns you a dedicated account manager who will work with you from your application to onboarding. Plus, you get 24/7 customer support thereafter.

As a merchant account, it can work with all payment gateways, including Stripe, to get the best of both worlds. Pricing remains undisclosed, but user reviews say it is still competitive. A longer application process is expected due to the nature of the merchant’s industry. PaymentCloud is still the best Stripe alternative if you sell high-risk products or run a mid- or high-risk business.

Pricing

PaymentCloud only provides custom pricing to merchants. Interchange plus pricing is available depending on the use case; merchants are advised to inquire for more information. Large volume discounts are available, and PaymentCloud does not have application, setup, or annual fees.

The rates below are estimates provided by the provider:

• Monthly fee: $10-$45.
• Payment processing fees:
  • 2%-3.1% for low-risk transactions.
  • 2.3%-3.4% for medium-risk transactions.
  • 2.7%-4.3% for high-risk transactions.
• Payment gateway fee: $15/month.
• Chargeback fee: $25-$50.