This review is specific to the UK as I understand payment card regulations vary around the globe.
After extensive research and almost signing up for Worldpay, We ended up going for stripe and now 6 months in are very happy with the system. We use stripe through an integration with zoho books. The features we enjoy the most are:
Easy to use admin panel (TAKE A NOTE Worldpay)
Ability to charge in Pounds, Euros and many more currencies as our business evolves.
East to understand fee structure and very competitive for UK e commerce businesses.
You can review payments easily, pull up receipts and issue refunds in seconds.
When you refund a customer the credit card fees are refunded in full (thank you Stripe) this makes things so much easier.
I would prefer if fees could be charged on a monthly basis for all the transactions and show a detailed breakdown in the report for that period rather than deducting from each payment.
I have heard stories (through reviews) that if you get a charge back stripe can be become very nasty and suspend your account without warning putting your business in jeopardy. Although I have not had any bad experiences - the sheer volume of negative reviews out there makes me very weary about how they will behave when things go wrong. (I hope I am wrong about this)
As of Nov 2017 - stripe does not have a phone helpline - I would prefer if they did atleast for only when things go wrong.
The payouts are 7 days rolling which is much longer than any other company I know. Again this is not a deal breaker but I would prefer if this could be reduced for clients who are on the system for say 1 or 2 years and have a good track record (just a thought).
Stripe is mainly for online businesses, I think in retail POS you will find companies likes Izettle charge 1%.
Stripe is good for a business going or trading globally. For example our clients are from around the world and for payment from UK, EU including Israel and Turkey we get charged 1.4%. Now that is competitive compared to say Worldpay or the others.
Stripe pays weekly - hope this is okay for you, it should be fine for most.
If you charge is many other currencies say USD and AUD but drop payouts in a GBP account you will get stung with extra charges for conversion. Ideally you want to have bank accounts in those currencies, we use Natwest in the UK and have opened accounts in other currencies.
Through Stipe we have been able to offer credit card payment options to our customers in a flexible manner with no monthly fees. Stripe charges us per transaction and refunds fees in full when we issue refunds. This pay as you go model works well, the beauty is that our stripe account manager has promised us discounts as and when we cross certain monthly volumes. The ability to charge in euros and drop the payouts in our euro bank account is great, this also means we could do the same for aus dollars and many many more currencies when needed. We also wanted a system that can intergrate easily and stripe have hit that part very well. We are planning to eventually deploy stripe with some fraud prevention software and just found out stripe are already integrated besides Stripe has their Radar system which offers some minimal fraud prevention.