Stripe payment integration or the best way to receive payment online

How to accept payment on your site online? Stripe Integration Process

Stripe is the leading global payment processor for internet-based businesses. It’s easy to use, secure and powerful. Stripe integrates with all major eCommerce platforms, so you can easily set up a payment handler for your website.

Stripe has been called «the PayPal competitor» because it allows businesses to accept credit cards without having to manage their own merchant accounts with banks or other financial institutions. Stripe acts as a middleman in payments business operations between merchants (the ones accepting payments) and their customers (those paying for goods).

how to accept online payments
6 best payment gateways

In addition, Stripe offers tools for managing subscriptions and recurring charges from customers who choose not to use their services beyond simply making deposits into bank accounts or debit cards; these tools include automatic refunds if the customer doesn’t renew his/her subscription within 30 days before expiration date arrives; automatic invoices when users have been paid but haven’t updated billing information yet, etc.

Why Accepting Online Payments is crucial for your business?

Online payment methods are nothing new to the world of business or retail. But, it has now become a necessity for every business owner. In this digital world, no business can survive without accepting online payments. The world has shifted from paper checks to plastic cards and finally to mobile wallets, and there is no looking back for all those who want their business to flourish in the global market.

Here is why it is so important to your business:

  1. Accepting payments online increases your business. Accepting payments online has a lot of benefits for both small and large businesses. It increases your business by:
  • Increasing revenue — quick online payment is an advantage because if the user hasn’t paid immediately —  it is a lost profit for your company. 
  • Increasing conversions — because it reduces the time needed to accept payments.
  • Increasing brand reputation — this type of payment acceptance is safe not only for the company itself but also for the user, which positively affects your reputation.
  1. Online payment options keep your customers happy. It’s time to get with the times. Customers are increasingly looking for online payment options, and you should have them available. Besides, adding common ways to pay increases the chances to be paid. There are many reasons why accepting payments online is important:
  • Convenience — Customers can pay from anywhere with their smartphones or computers, so they don’t have to leave the house or office.
  • Ease of use — Online payments require just a few clicks, which means there’s less room for error than with other methods like checks or cash payments.
  • Reliability — You can trust that your customers will pay on time (and in full) since they’ve already given their credit card information when signing up for your service/product. And recurring payments can generate you endless cash stream.
  1. Fewer worries about fraudulent transactions. In today’s world, it’s not uncommon for small businesses to be hit with fraudulent transactions. They can happen through online payment methods as well, but they’re less likely than in-store or phone payments. This is because online payments are more traceable and there are fewer opportunities for criminals to use them fraudulently.

So, as you can see, online payments integrations, especially Stripe payment gateway integration, allows your business to keep pace with the times and be more user-friendly.

How To Accept Payment On Your Site By Integrating Stripe Payments

Stripe is a payment processor used by millions of businesses around the world. It has an easy-to-use interface and allows you to accept payments no matter what your business does. How to add stripe payment to website? They are built for developers, so an advanced development team such as the Broscorp team can integrate Strype quickly.

Stripe payment integration

So, here is how to start accepting payments with Stripe on your website or app:

  1. First, you have to select payment methods and integrate Stripe into website. One of the best things about Stripe is that you can accept any form of payment, whether it’s credit cards or Apple Pay, Google Pay, ACH, SEPA. You can even use Stripe to accept other types of payments if they’re not listed here. Choose either to use: a self-hosted page or an embedded one. Self-hosted is a simpler option. Embedded has less features and requires more technical knowledge and maintenance but you can fully customize it.
  2. Then, test payments using «developers» mode. This mode is for testing purposes only and will not charge you for any transactions made in this mode. You need to make sure that everything works as it should. 
  3. And finally — start accepting real payments. If you’ve made it this far, congratulations! You’re ready to start accepting real payments on your site.

Stripe Integration Process And Benefits

Stripe implementation can be set up quickly and easily, which will increase your sales. It has a wide range of features that you can use to customize your payment processing system in any way you want.

You can select one of these two options.

Stripe Checkout

This payment gateway is easily integrated with any app or website. How to set up Stripe Checkout? Simply speaking it’s a self-hosted page where your customers can input all the needed info. So almost no development is needed to integrate it. You also have full control over which fields appear on the page, so if there are any specific details you want customers to provide (like shipping information), they can do so easily without having to leave the page.

Stripe Checkout supports multiple currencies and tax rates, so you can charge your customers in their local currency. You can also translate your checkout flow into multiple languages with a single line of code.

Stripe Elements

Stripe Elements is a JavaScript library that surfaces pre-built UI components for use with the Stripe API. The Element catalog includes everything from form validation to checkout pages and shipping labels. Elements automatically update whenever you publish new code, making it easy to ship new features quickly without worrying about breaking existing features.

If you need more freedom for customization, Elements is your choice. It allows you to build in and add all kinds of custom features, which you simply can’t do with Stripe Checkout, which is easier and more accessible to integrate. 

Broscorp holds experience in creating custom payment flows using Stripe Elements and Angular and how to integrate payments into the Java Backend. If you need to integrate Stripe Elements into a website or application, write us and we’ll discuss details.

Stripe Benefits

  • Payments are made easily. Stripe makes it easy for you to accept payments. It’s a payment processing service that allows your customers to pay through their credit or debit cards. Integrating stripe into website provides an interface where users can enter their information.
  • Stripe’s fees are lower. They are lower than other payment processors. Stripe’s fees are based on the volume of transactions, not the total amount of money in your account. This means that you can make more money without paying more in fees! Stripe also offers transparent and predictable pricing on its website, so you know exactly what to expect when it comes to your Stripe fees each month.
  • Better security and fraud protection. Stripe uses the latest technology to keep your data safe. Stripe’s fraud detection tools help you identify and prevent fraud, while its dedicated security team monitors for threats.
  • Easy to start using. Stripe payment integrations are quick and very business-friendly. 
  • Support for a variety of currencies, countries and payment methods. The Stripe API supports more than 50 currencies across their global network of payment processors.

What Are The Challenges In Integrating Stripe Payments

Although Stripe is one of the most popular and widely used payment gateways, it has a few challenges that you should consider:

  1. Your business should be whitelisted before you begin using Stripe payments. Whitelisting is a process that is done by the Stripe team, which means that they will need to verify your business information and make sure it’s safe to use their financial services. This process usually takes 24 hours or less, but if there are any issues with your application, it may take longer than expected. 
  2. Your business should be from the allowed countries when using Stripe payments. If you are from a country that is allowed to use Stripe payments, then your business will be able to accept payments from anywhere in the world. If you are from a country that is not allowed to use Stripe payments, then your business will only be able to accept payments from other businesses based in those countries.

You can learn more about it here, in this documentation on the official website:

The next step you should think about when you decide to integrate with Stripe is the type of integration you want. Checkout and Elements are Stripe’s two most popular integrations, each with its own advantages and disadvantages:

  • Checkout is best for high-volume, low-value transactions (such as an e-commerce order). It can be implemented on mobile devices or desktop computers, but it’s not recommended for embedded content (for example, an article that a reader pays to access).
  • Elements are best for low-volume/high-value transactions. Because they don’t require JavaScript or any other third-party libraries, they’re also suitable for embedding in webpages that don’t use JavaScript at all.

How Can Broscorp Help You With Stripe Integration

The Broscorp team will help you with Stripe payments integration:

  1. First, we’ll perform a business analysis of the project — determine the needs and types of payments your customers will be making.
  2. Next, we’ll determine the type of integration that best fits your needs. 
  3. After that, we’ll develop a custom payment flow using Stripe API. 
  4. Once the development is complete, we will test the integration using development mode (incurring no charges).
  5. We also train you to use Stripe Dashboards, make refunds and analyze statistics.

Is Stripe Safe To Use?

You can rest easy knowing that Stripe is safe to use. The company has been around since 2010 and has a great reputation, with many positive reviews from customers. They have an excellent support team that’s able to help you with any issues that may arise while using their services.

Stripe is also used by some of the biggest companies in the world, including Facebook, Lyft, and Pinterest — all of which need secure payment options for their customers.
Stripe is PCI compliant level 1, and it has a 19.44% Market Share. Moreover, Broscorp holds the knowledge of integrating Stripe Elements and Stripe Java SDK in the safest way, following all the general safety recommendations.

Final Words

In the fast-changing world, you have to quickly react to the demand and use any possibility to provide user-friendly service. Any single additional click or UI complexity may prevent your SaaS service from earning additional profit. So using such solutions like Stripe which is a golden standard of accepting payments will make you sure not loosing any single payment.

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