Back when you first started selling online, you were probably trying to keep things simple. You needed a payment processor, and you chose Stripe. Most likely it was because you (or someone you work with) was familiar with it, and you could get things rolling in practically as much time as it took to fill out your new company name on the sign-up page.
Fast forward to now, when you’re thinking about more complex issues like how to acquire more customers globally and increase sales. You might suspect there’s more your payment processor could do to help, which is why you now find yourself looking up Stripe competitors online.There are plenty of payment processors like Stripe out there — the next one you choose should be one you’ll never outgrow. Click To Tweet
This scenario isn’t unusual; we see it all the time. It’s actually a good thing, because it means your business is growing, and it’s beginning to outgrow Stripe. If you’ve been struggling with any of the three situations listed below, it’s a good time to move on. There are plenty of payment processors like Stripe out there — the next one you choose should be one you’ll never outgrow.
3 Good Reasons to Start Researching Stripe Competitors for Payments
1. As you grow, you need a partner you can rely on for payment strategies and expertise.
You face new complexities as your online business grows. Payments, in particular, can play an integral role in helping you reach your growth goals, but without the right strategy in place, you could start losing customers. As a Stripe merchant, you most likely don’t have dedicated support to rely on for advice. In some cases, Stripe may even put up roadblocks to your success; marketplaces, in particular, have experienced account freezes and even business shutdowns in response to compliance infractions identified too late. Instances like these occur because customers don’t have a partner at Stripe looking out for them.
How BlueSnap does it: It’s our mission to provide a better way of accepting payments, and we’re there for you every step of the way. We encourage you to talk to us about your business’s individual payment needs so we can help you optimize your payment strategy — and do everything we can to customize our solution as needed. And when it comes to marketplaces, we’ll head off any compliance infractions before they happen. How do we do that? By taking the time to understand your business and coming up with a game plan on how you can reach your goals in a compliant fashion. Whether you’re trying to evaluate your payment offerings, integrate with a particular third-party platform, enter a new market, or anything else, we’re always proactive about helping you manage payments.
Not sure how a more powerful payment solution can take your business to the next level? Find out exactly what you’re missing with Stripe here.
2. You’re experiencing more transaction declines as you expand globally, but have no insight into why it’s happening.
Global expansion is natural for most eCommerce businesses, but global payment processing is not the forte of all payment processors, including Stripe. It has only one bank connection, which sets up your international transactions to fail. And with Stripe’s minimal reporting, you can’t diagnose the problem in the first place; you have no idea why transactions were declined. Stripe’s single bank connection and minimal reporting might have been sufficient when you were just starting out, but now its offerings are simply not enough. There’s no way to overcome global transaction failures without the right setup and sufficient data.
How BlueSnap does it: As a leading global payments processor, we take cross-border payments and data seriously. We have over 30 bank connections globally to help increase your transaction approval rates worldwide. Plus, our detailed reports expose all the meaty details about your customer transactions — explaining why certain transactions were declined (i.e., insufficient funds, expired credit cards, authorizing bank detected fraudulent activity, etc.); where you’re getting higher than normal rates of declines due to fraud; and what currencies, price points, and locations have lower than normal conversion rates. The insights you gain as a result will pave the way for you to improve your global business, helping you pivot as needed. And if you need help analyzing the data, just ask. We’re happy to lend a hand.
3. Your business would benefit from a tiered fee structure aligned for growth.
The number of transactions you’re conducting monthly has been growing in leaps and bounds, but Stripe’s flat blended rate doesn’t factor in different costs across all payment types (for example, it doesn’t account for the added savings for debit cards, which are less expensive to process). And even if you wanted to ask about allowances for debit card payments, there’s no one to ask. Now that your business is growing substantially, you’re wondering what Stripe’s competitors are charging per transaction and if their fee structures are more flexible.
How BlueSnap does it: We can save you money on transaction fees — and we hope you’ll ask us about it. We also have a more flexible payment structure that accommodates varying costs by payment type. So if your company processes a lot of debit cards, for example, we’ll compensate for that in our transaction charges. (Considering that 42 percent of Americans prefer to pay with a debit card, that could lead to huge savings for some companies.) We also offer tiered discounts based on the growth of your business. So where Stripe has a flat rate across the board, a payment company like BlueSnap actively works to help lower your fees, which can significantly impact your bottom line.
Try Before You Switch
You may be researching a number of payment processors like Stripe, and we hope we’re one of them. We encourage you to A/B test with us before you make any decisions, so you can see our advanced technology, increase in conversions and world-class support level for yourself.
Depending on your business, you have several options for comparing BlueSnap to Stripe. If you have two different websites or landing pages, connect one to BlueSnap and one to Stripe. The same could be done with different products, SKUs or customer areas (international vs. domestic). Whether it’s one month or six months, we bet you’ll see a difference. We also don’t require a setup fee upfront or have any required minimums for processing.
Interested in Learning More About BlueSnap?
Our powerful All-in-One Payment Platform is the reason we’re one of the leading Stripe competitors; learn more about it on our website. BlueSnap offers the same simplicity and ease of use as Stripe, but with advanced global support features and a host of other payment processing capabilities that actually help accelerate sales, including:
- Support for more than 100 payment types, including popular eWallets
- Built-in, world-class fraud prevention technology from Kount
- Built-in risk management tools from Chargebacks911, Verifi and Ethoca
- Hundreds of connections with popular platforms and shopping carts (so you don’t have to leave the one you’re with)
- A range of detailed reporting options and a 24/7 mobile reporting app
- White-glove dedicated support with a number of ways to get in touch
So give your business the breathing room it needs, and get in touch with us today.