Starting an ecommerce business is an exciting, chaotic time. You have so many things to consider: should you use a hosted platform or manage your store with a plugin? What are the strategies you need to skyrocket your sales? But no question is more daunting than this one: How should you accept payments?
After you do your homework, there will be two pretty clear contenders for your merchant buck: Stripe and PayPal. Offering comparable features, choosing between the two feels like picking between apples… and yet more apples. Which is where this article comes in.
Today, we’re going to compare and contrast these two payment gateways and get down to the bottom of the Stripe vs. PayPal debate.
Here’s the itinerary:
What Do Stripe and PayPal Do?
Both Stripe (founded 2011) and PayPal (founded 1998) are payment gateways, acting as the go-between for merchants and the appropriate credit card networks/financial institutions to authorize and accept payments.
The intricacies of these relationships can get pretty convoluted. A simple way to look at a payment gateway is as an envoy that routes information between merchants and banks.
Here’s a visual breakdown of where payment
Source: https://managewp.org/articles/17926/stripe-vs-paypal-which-payment-gateway-should-you-choose
source https://williechiu40.wordpress.com/2018/10/01/stripe-vs-paypal-which-payment-gateway-should-you-choose/
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