Get Paid Quicker: Why More Businesses Are Using Stripe
Thought about using Stripe? We all work to get paid right? Let’s make it easier for people to pay us! No doubt you understand the challenges of managing finances and ensuring timely payments from clients. Stripe has been a game changer for many businesses. Not only for people with e-commerce businesses, but for anyone who sends an invoice to get paid. Integrating Stripe isn’t going to revolutionise your business however what it will do is give your clients more options (and choice) on how they pay you, and make it a lot easier (and quicker) for them to pay you with a few clicks.
Here are a few of our favourite things about Stripe:
Ease of Use and Quick Setup
One of the standout features of Stripe is its user-friendly interface, making it incredibly easy to set up an account and start accepting payments on the same day. In a world where time is of the essence, the simplicity of Stripe ensures that your clients can make payments without unnecessary delays or complications.
Security Measures for Peace of Mind
Stripe prioritises the security of payment transactions. Utilising encryption and stored data practices, sensitive information such as credit card details is then safeguarded throughout the payment process. With features like AVS, CVV verification, HTTPS on checkout windows, and regular self-audits, Stripe ensures a secure environment for all transactions.
Fraud Prevention Tools
In-built tools within Stripe help identify and prevent suspicious transactions. For businesses seeking advanced fraud prevention, Stripe’s Radar tool is available, offering an additional layer of security. Best of all, this advanced tool is free for standard Stripe accounts.
PCI Compliance for Industry Standards
As a PCI-compliant provider, the software adheres to the rigorous standards set by the PCI Security Standards Council. Certification is renewed annually, and businesses using Stripe benefit from not having to separately certify their compliance. This simplifies the process and ensures a secure payment environment.
Xero Using Stripe
Perhaps our favourite feature. Stripe’s collaboration with Xero streamlines the payment and invoicing process. With features like the ‘Pay now’ button on invoices, acceptance of various payment methods, and auto-pay for recurring bills, businesses can significantly reduce the time spent chasing payments.
Transaction Tracking and Data Insights
The integration with Xero allows for seamless tracking of transactions, automatic matching of payments to invoices, and one-click reconciliation. This provides businesses with a comprehensive view of their cash flow, offering valuable insights into their financial performance.
Transparent Fee Structure and Global Support
With a fee of 1.75% + A$0.30 for domestic cards (current Jan 2024), Stripe provides a cost-effective solution for businesses of all sizes. They also offer 24×7 phone, chat, email support and comprehensive documentation ensures that businesses can access help whenever needed.
Global Payments with a Single Integration
Stripe facilitates global payments with support for 135+ currencies. This allows businesses to process charges and display prices in their customers’ preferred currency, ultimately increasing conversion rates (relevant for online stores)
Using Stripe for your business will enhance your payment processes. From its ease of use and robust security measures to seamless integrations and customisation options, Stripe offers a comprehensive solution for businesses aiming to streamline their financial transactions. By providing clients with a variety of payment choices whilst ensuring a hassle-free experience will not only save time but also contribute to the efficiency of your business.
Want to learn more? We have a webinar for business owners which outlines all you need to know to set Stripe up and integrate with Xero. You can view this here. If you want some custom help getting set up, you can get in touch here.