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Card processing review

Stripe

Stripe's flat-rate processing: 2.7% + 5¢ in person with Stripe Terminal, 2.9% + 30¢ online and 3.4% + 30¢ keyed in, with no monthly, PCI or closure fees, month to month. Deposits take two business days (instant payouts 1.5%). It has no restaurant POS of its own: restaurants use it through POS systems built on Stripe.

By StripeParent company: Stripe, Inc. (private)

RTC SCORE

5.4

#9 of 16 with enough data

Our verdict

Published flat-rate pricing (2.7% + 5¢ in person) with no fixed fees and no term, for restaurants whose POS runs on Stripe. Deposits take two business days, and Stripe has no program to pass the card cost to customers.

What we like

  • Every standard fee is published, and there are no monthly, PCI, statement or closure fees.
  • Month to month with no closure fee, and fee increases come with at least 30 days' notice.
  • Phone, chat and email support around the clock.
  • Works with POS systems built on Stripe, so you aren't tied to a POS from the processor.

What to watch

  • Standard deposits take two business days; getting money in minutes costs 1.5%.
  • No dual pricing or surcharge program, and its readers only work with Stripe.

How the score breaks down

RTC Score5.4out of 10

Methodology v0.1.0

Data completeness100%

We could verify 100% of the scoring data

Strongest points
What leaving in month 12 costs, Published pricing, 24/7 support
Weakest point
12-month cost of the reference restaurant

Score by criterion

  • 12-month cost of the reference restaurantWeight 37%Weakest1.3 out of 10

    $10,653 over 12 months

  • Standard deposit speedWeight 11%5.0 out of 10
  • What leaving in month 12 costsWeight 9%Strongest10.0 out of 10

    $0 to leave in month 12

  • Price increases during the contractWeight 8%7.0 out of 10
  • Published pricingWeight 7%Strongest10.0 out of 10
  • 24/7 supportWeight 6%Strongest10.0 out of 10
  • Contract termWeight 4%10.0 out of 10
  • Support channelsWeight 4%9.0 out of 10
  • No equipment lease you can't cancelWeight 3%10.0 out of 10
  • Works with restaurant POS systemsWeight 3%1.7 out of 10
  • Automatic renewalWeight 2%10.0 out of 10
  • Equipment works with another processorWeight 2%0.0 out of 10
  • Offers dual pricing or a surcharge programWeight 2%0.0 out of 10
  • Works without the vendor's own POSWeight 1%10.0 out of 10

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Type of processor and pricing
Data pointValue
Type of processorFlat-rate payment company (payment facilitator)Source: Stripe (opens in a new tab)A payment company with one published flat rate for every business on standard pricing.
Pricing modelFlat rateSource: Stripe (opens in a new tab)
Published pricing (points out of 100)100Source: Stripe (opens in a new tab)Same rubric for every vendor: in-person rate published 25; online and keyed rates 15; monthly fee ($0, stated) 20; early termination fee ($0: no closure fees, stated) 20; other fees 20 (disputes, instant payouts, international cards and Tap to Pay are on the pricing page).
Card rates
Data pointValue
In-person rate2.7%Source: Stripe (opens in a new tab)With Stripe Terminal readers. Tap to Pay on a phone adds 10¢ per authorization.
In-person fee per transaction5¢Source: Stripe (opens in a new tab)
Online rate2.9%Source: Stripe (opens in a new tab)
Online fee per transaction30¢Source: Stripe (opens in a new tab)
Keyed-in rate3.4%Source: Stripe (opens in a new tab)2.9% plus the 0.5% for manually entered cards.
Keyed-in fee per transaction30¢Source: Stripe (opens in a new tab)
American Express pricingSame rate as other cardsSource: Stripe (opens in a new tab)One rate for every domestic card, American Express included.
American Express rateN/ASource: Stripe (opens in a new tab)Doesn't apply: American Express costs the same as other cards.
Rates by monthly volumeN/ASource: Stripe (opens in a new tab)Doesn't apply: one published rate for any volume. Stripe offers custom pricing (including interchange-plus) for large volumes, only by quote.
Monthly and other fees
Data pointValue
Monthly account or plan fee$0/moSource: Stripe (opens in a new tab)Pay as you go, with no monthly fee.
Annual fee per account$0/yrSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
Annual fees per device or location$0/yr per deviceSource: Stripe (opens in a new tab)No recurring program or compliance fee per reader. Cellular data on readers that use it is optional, at $10 a reader a month.
PCI compliance fee (yearly)$0/yrSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
PCI non-compliance fee (monthly)$0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
Statement fee$0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
Monthly minimum$0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
Fee per batch$0Source: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one.
Chargeback fee$15Source: Stripe (opens in a new tab)Plus $15 for each dispute you respond to manually, which you get back if you win.
Other feesCards issued outside the US +1.5%; currency conversion +1%; Tap to Pay on a phone +10¢ per authorization; optional point-to-point encryption +5¢ per authorization; cellular data $10 a reader a month; $15 for each dispute you respond to manually (returned if you win); Smart Disputes 30% of the disputed amount when you win.Source: Stripe (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentYou buy itSource: Stripe (opens in a new tab)You buy the readers from Stripe, or take contactless payments on a phone with Tap to Pay.
Price of a countertop terminal$299 one-timeSource: Stripe (opens in a new tab)Stripe Reader S700 (countertop smart reader). The Stripe Reader M2 mobile reader is $59.
Equipment lease you can't cancelNoSource: Stripe (opens in a new tab)Stripe sells its readers at a listed price; it doesn't publish a lease.
Equipment lease termN/ASource: Stripe (opens in a new tab)Doesn't apply: no lease.
Equipment at $0 upfront: what it commits you toN/ASource: Stripe (opens in a new tab)Doesn't apply: Stripe doesn't offer readers at $0 upfront.
Equipment only works with this processorYesSource: Stripe (opens in a new tab)Stripe's readers work with Stripe accounts (through Stripe Terminal), not with another processor.
Getting your money
Data pointValue
Standard deposit speedTwo business daysSource: Stripe (opens in a new tab)Default US settlement is two business days. Your first payout takes 7 to 14 days, depending on your industry and risk level. Instant Payouts cost 1.5%.
Instant payout fee1.5%Source: Stripe (opens in a new tab)Minimum 50¢ per instant payout.
Holds and reservesStripe can set up a reserve with a notice of its terms and hold it to cover what you may owe (disputes, refunds); it sizes reserves by risk and pays them out when the reserve term ends. It can also delay or withhold payouts for disputes.Source: Stripe (opens in a new tab)
Contract and exit
Data pointValue
Contract termMonth to monthSource: Stripe (opens in a new tab)Month to month, with no closure fee: the agreement runs until you or Stripe end it, and you end it by closing your account in the Dashboard.
Automatic renewalMonth to monthSource: Stripe (opens in a new tab)No term to renew.
Notice to avoid renewalN/ASource: Stripe (opens in a new tab)Doesn't apply: no term to renew.
Notice to cancel0 daysSource: Stripe (opens in a new tab)You end the agreement by closing your account in the Dashboard; no notice period.
Early termination feeNo early termination fee: Stripe charges no closure fee.Source: Stripe (opens in a new tab)
How the early termination fee is calculatedNo early termination feeSource: Stripe (opens in a new tab)No closure fee, per Stripe.
Liquidated damages clauseNoSource: Stripe (opens in a new tab)No clause charges you for the months left: the agreement has no minimum term.
Price increases during the contractWith notice, and you can leave without a feeSource: Stripe (opens in a new tab)At least 30 days' notice of any fee increase; since the agreement has no term and no closure fee, you can leave before it applies.
Right to raise pricesStripe can change its fees with at least 30 days' notice of any increase or new fee.Source: Stripe (opens in a new tab)
Personal guarantee by the signerUnconfirmedSource: Stripe (opens in a new tab)The agreement has no personal guarantee clause; if you're a sole proprietor, you and the person who applies are both bound by it.
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programNoSource: Stripe (opens in a new tab)Stripe's terms allow surcharging only where card network rules and the law permit it, but Stripe doesn't publish a dual pricing, surcharge or cash discount program for US merchants.
Cards the program coversN/ASource: Stripe (opens in a new tab)Doesn't apply: no program.
Monthly fee for the programN/ASource: Stripe (opens in a new tab)Doesn't apply: no program.
Your POS and your business
Data pointValue
Works with these restaurant POSOthersSource: Stripe (opens in a new tab)Stripe Terminal works with third-party POS systems built on Stripe; Stripe doesn't list any of the restaurant POS systems on our list.
Requires the vendor's own POSNoSource: Stripe (opens in a new tab)Stripe has no restaurant POS of its own; it works through POS systems and apps built on Stripe.
Monthly volume it's built for$0/moSource: Stripe (opens in a new tab)No minimum volume: pay-as-you-go pricing for any business.
Accepts high-risk businessesUnconfirmedSource: Stripe (opens in a new tab)Stripe publishes lists of prohibited and restricted businesses; it doesn't present itself as a processor for high-risk businesses.
Routes debit to the lowest-cost networkUnconfirmedSource: Stripe (opens in a new tab)Stripe's pricing and docs don't say whether it routes US debit to the lowest-cost network for you.
Support
Data pointValue
24/7 support for merchantsYesSource: Stripe (opens in a new tab)
Support channelsPhone, Chat, Email or formSource: Stripe (opens in a new tab)
Language
Data pointValue
Support in SpanishSays it offers it, without a channelSource: Stripe (opens in a new tab)By email: Stripe passes Spanish emails to its language support teams. It doesn't publish a phone line in Spanish.
Merchant dashboard in SpanishUnconfirmedSource: Stripe (opens in a new tab)Stripe says its mobile Dashboard app comes in 14 languages but doesn't list them; Spanish shows up only in the app store listing, which we count as a hint.
Contract or terms in SpanishNoSource: Stripe (opens in a new tab)Stripe translates its services agreement only into French, Indonesian, Japanese and Thai (for information); there's no Spanish version. Same rule for every vendor: we mark it "No" when we searched and found the terms only in other languages.
US website in SpanishYesSource: Stripe (opens in a new tab)Stripe's US site has a Spanish version (es-us), pricing included.

More about Stripe

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How we score