Stripe: What it is and how it works to receive online payments

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Before you move forward with using Stripe, it’s important to familiarize yourself with some of the key features this payment platform offers.

Online payments: Allows you to accept payments with credit and debit cards, bank transfers and other payment methods, both locally and internationally.
Recurring payments and subscriptions: Ideal for businesses with subscription models or services that require recurring payments.
Billing Management: Automate invoice malta email list generation and manage recurring payments.
Security: Ensures compliance with PCI-DSS security standards, ensuring the protection of users' financial information.
Multi-Currency Support: Offers the ability to accept payments in over 135 currencies and different payment methods, making international transactions easier.
Easy Integration: Provides a flexible and well-documented API that makes it easy to implement into websites or applications.
It is used by businesses of all sizes, from small startups to large companies (like Amazon, Shopify, and Lyft) that need to manage their online payments securely and efficiently.

Now that you know the features it offers, it's time to look at Stripe's transaction fees.

Stripe fees per transaction
In Spain, Stripe's transaction fees depend on the type of card you use. For European cards, issued within the European Economic Area (EEA), the fee is 1.4% of the total amount plus €0.25 per transaction. For non-European cards (outside the EEA), the fee is 2.9% of the amount plus €0.25 per transaction.

If payment is made in a currency other than Euro, an additional 2% charge applies for currency conversion. In case of disputes or chargebacks, Stripe charges a fee of €15 for each dispute, although if the dispute is resolved in your favor, the fee is refunded.

For SEPA Direct Debit payments, the fee is fixed at €0.35 per transaction. There are no additional charges for processing refunds, but the fees from the original transaction are not refunded.

It is worth noting that the rates mentioned are standard, although Stripe may offer custom rates for businesses with a high transaction volume.

How to integrate Stripe into your website
Now that you have your e-commerce created, you may be missing the most important element: adding a payment gateway.

You might be thinking, “Carol, I don’t have a clue about code.

Don't worry, I'm going to teach you how to do it in two ways: by installing a plugin on your WordPress and through API (yes, if you are an expert in web development, I have you in mind too).

Integrate Stripe with a plugin
If you have a WordPress website, integrating Stripe as a payment method will be a piece of cake. As you know, installing a plugin is a godsend for adding any extra functionality to your website.

So you can see that it's not rocket science, I'll show you two ways to do it: one if you have an online store on WooCommerce and another if you only offer services on your website.