Payment systems are one of the more complex, if not the most complex roadblocks in developing services that incorporate any type of e-commerce or payment. Obviously, developers want to get paid, and simple options for this have only been PayPal or Google Checkout.
Stripe wants to make it easier for developers to get paid for their hard work. The company says processing transactions should be handled in code and not in finance. This could knock down a lot of walls for developers.
According to Stripe:
You don’t need a merchant account or gateway. Stripe handles everything, including storing cards, subscriptions, and direct payouts to your bank account.
To make it all happen, we work with some of the largest financial institutions in the world, including Wells Fargo and First Data.
Of course for sellers of goods on the street, Square has been a great option for them, requiring only an iOS device and a $10 dongle. But online has always been difficult to start and manage for yourself. Stripe wants you to work with them, as it has relationships with all of the major banks. You can use its simple API with a few lines of code to start processing transactions.
Coding languages like Ruby, PHP, Python are supported, which makes Stripe a pretty universal solution to start processing payments without a hassle.
Of course the company charges for its processing headaches, but that’s so you don’t have to worry about it. There are no no setup fees, monthly fees, minimum charges, validation fees, or card storage fees for Stripe. Surprisingly, there are no charges if a payment fails either, which is completely rare in this space.
The team’s posted mission statement is:
Stripe is a simple, developer-friendly way to accept payments online.
We believe that enabling transactions on the web is a problem rooted in code, not finance, and we want to help put more websites in business.
If you’re interested in checking out Stripe, it’s best to get started with the Stripe API tutorial.