6 Best Stripe Alternatives for Your E-commerce Business in 2024

While Stripe offers a good amount of e-commerce features and integrations, it can be challenging to set up and manage – especially for those without technical know-how.

It can also be hard to predict how much you’ll pay because Stripe’s transaction fees vary based on how a customer pays. ACH payments and international cards incur additional transaction fees, for instance. Stripe even adds a higher markup to certain card-not-present transactions, such as first-time subscription payments and any virtual payments you or your staff key in.

If you process a high volume of transactions, Stripe can end up costing significantly more than some competitors due to its reliance on per-transaction fees, which can quickly add up. That’s one reason Stax’s subscription-style plans, with their 0% markups on transactions, offer better value if you process more than $5,000 per month.

With Stax, you’ll also get a user-friendly payment software, a built-in shopping cart and virtual terminal, great billing and reporting tools, plus a bunch of other helpful e-commerce features.

While Stax is my top pick for e-commerce payment processing, I’ve also put together a list of other Stripe alternatives that might be a better fit for your business.

What We Look For in the Best Alternatives to Stripe

When researching Stripe’s competitors, my first priority was narrowing down the list of payment processors to those offering the most secure online payment processing. They also had to have the following essential features.

• Powerful e-commerce tools. Each of these payment processors gives you what you need to sell online. That includes integration with popular e-commerce platforms and fast-loading shopping carts (built in or integrated).
• Fair, easy-to-understand pricing. Stripe charges many different processing rates and fees, which makes it hard to project your actual costs. The processors on this list offer simpler subscription-style or interchange-plus plans that make it easier to predict how much you’ll pay.
• Outstanding security features. Every processor on my list is Level 1 PCI compliant, the highest standard for the industry. Fraud monitoring, end-to-end encryption, and tokenization are other defensive tools that help reduce costly chargebacks and keep your customers’ data secure.
• Ease of use. Stripe can be challenging to set up and integrate with your online store, and the complexity of its API and customizations can be overwhelming. You’ll find these alternatives to be more user-friendly at the outset and beyond.
• Beginner-friendly business management tools. A challenging interface can make it difficult to use Stripe’s reporting, analytics, and accounting features. The payment processors on this list offer similar tools, but they are typically easier to access and customize.

1. Stax: Best Stripe Alternative for Established E-Commerce Businesses

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Stax is my top choice if you’re looking for a payment processor with a low monthly membership fee that still offers a ton of e-commerce features, including an online merchant portal, analytics reports, inventory management, automated customer reminders, and more.

Unlike Stripe, there’s no interchange-plus markup for Stax – you’ll just pay a small 15¢ + interchange (online) fee on each online transaction. This makes it easier to project your monthly processing costs and keep on top of your business’s finances. You can read more about this in our Stax vs. Stripe comparison.

Stax typically approves accounts within 24-48 hours, though you’ll need to provide 3 months of payment processing transactions to apply. That’s one reason Stax may not be ideal for startups with no transaction history. But established businesses earning $5,000+ per month could save up to 40% on credit card processing with Stax.

Features and Benefits

• One-click shopping cart setup. The pre-built Stax shopping cart can be activated with a single click. Simply add products or services you sell, click create, and you’re ready to take orders.
• Billing and invoicing. Business tools let you schedule recurring billing, send customers customized invoices by text or email, and easily track payments right from your Stax dashboard.
• Accounting tools. With a seamless QuickBooks integration and two-way data sync, Stax makes managing finances easy. Payments, customer information, invoices, and products/services are updated automatically.
• Set up multiple sales channels. Securely accept online, in-person, keyed, mobile, and digital wallet payments with a built-in virtual terminal, custom shopping cart, and modern mobile app.

Read our expert Stax review for more details.

2. Paysafe: Best Stripe Alternative for International Businesses1

For e-commerce businesses that serve a global clientele and are looking for a Stripe alternative with competitive rates, my top pick is Paysafe. With Paysafe, you can process payments in 40+ currencies and accept over 250 international payment methods. This ensures you can cater to the preferences of your customers.

During my research, I also learned that Paysafe is one of the few providers that offers a stand-alone e-commerce processing plan. It costs just 0.50% + $0.10 per month and has competitively priced transaction fees. The package includes access to the Authorize.Net payment gateway, a full-featured mobile app, and fast payouts.

Because Paysafe tailors processing solutions to your unique needs, it doesn’t share pricing on its website, except for its interchange-plus plan. Still, there’s no question that its advanced security technology for card-not-present transactions makes it an appealing processor for any global company, whatever its size, industry, or risk level.

Features and Benefits

• Flexible payment options. You can accept MOTO, digital invoicing, pay-by-link, recurring, and even QR code payments (through Paysafe’s partnership with Applova).
• Advanced chargeback protection. For an additional fee, you can add Paysafe’s Encrypto Advantage plan to its robust security features. This plan covers the cost of chargebacks (up to $250 per chargeback).
• Support for high-risk merchants. Paysafe serves high-risk industries that Stripe doesn’t support, including international gaming, crypto, and international currency trading.
• Variety of POS solutions.  As an official reseller of Clover and other top providers, Paysafe makes it easy to find a countertop, portable, or mobile POS solution that fits your needs.

Read our expert Paysafe review for more benefits.

3. Leaders Merchant Services: A Budget-Friendly Alternative to Stripe for Online Merchants

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Leaders Merchant Services (LMS) offers an interchange-plus payment model, with low online transaction fees that can yield substantial savings as compared to Stripe’s flat-fee model. LMS also boasts a high 98% approval rate, which makes it suitable for new businesses looking for quick approval and onboarding.

For e-commerce businesses that also have brick-and-mortar locations, LMS can provide free POS Clover terminals, but generally only with a 3-year contract. Alternatively, you’ll get the option to purchase equipment outright, including a terminal and check reader. While this increases your upfront costs, you’ll save on LMS’s monthly rental, insurance, and maintenance fees.

If you’re an existing merchant, take advantage of LMS’s meet-or-beat price guarantee when negotiating your new rates. You’ll also need to factor in the small monthly fee for using its Authorize.net payment gateway and an annual PCI compliance fee

Features and Benefits

• Full-featured shopping cart. When you integrate the CartManager shopping cart to your online store, you’ll get helpful tools that will automatically calculate tax and shipping costs, support multiple languages, provide insights into customer behavior, and more.
• QuickBooks integration. Merchants can use Instant Accept to take payments on any device. Real-time syncing will keep your records up to date without having to launch QuickBooks.
• Gift cards and loyalty programs. Digital gift cards and loyalty programs are time-honored tools for creating loyal, return customers.
• Business funding. LMS offers convenient merchant cash advance and business loan options with predictable repayment terms. Once approved, you’ll pay the loan back through a small commission on your future sales.

To learn more, read our expert Leaders Merchant Services review.

4. Payment Depot: An Affordable Stripe Alternative for Small E-Commerce Businesses

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If your business is new or your sales volume is less than $20,000 per month, Payment Depot may be the best answer to your processing needs. Its low-cost membership plans start at just $0 per month. Payment Depot charges 0% markups on interchange rates. Instead, you’ll pay just 0.2%-1.95% for each online transaction.

All plans include a free virtual terminal and free POS terminal if you also have a physical location. You can integrate popular shopping cart apps, e-commerce platforms (Shopify, Woo Commerce, and BigCommerce), and accounting software to run all aspects of your business. And unlike Stripe, you won’t need technical skill or an on-staff developer to start accepting payments.

That said, Payment Depot’s suite of e-commerce and business management tools isn’t as extensive as Stax’s. If you’re running a larger or more complex business, it may be worth paying the slightly high monthly fee for a Stax subscription.

Features and Benefits

• Fast payout. Payment Depot aims to process transactions and deposit funds to your account within 24 hours.
• 24/7 technical support. If you run into an issue, you can call Payment Depot’s technical support team to help you quickly solve the problem. According to merchant reviews and our own internal tests, the quality of support on offer exceeds the industry standard.
• Manage payments and more. Create and send branded invoices and payment links, track payments, and monitor sales performance, all from a user-friendly dashboard.
• Quick and easy setup. Once approved, you can expect to start collecting funds for processed payments within 48 hours. Your customers can pay however they choose, including via credit card, debit card, or digital wallet.

Our in-depth Payment Depot review has more info.

5. Chase Payment Solutions: Lower Fees and Faster Payouts Than Stripe1

Chase Payment Solutions, like Stripe, offers simple flat-rate pricing with no monthly fees.  But there’s a difference – Chase’s rates are easier to understand, and payouts are faster than Stripe’s, which makes it a better option for small- to mid-sized e-commerce businesses looking to control processing costs.

Accepting electronic payment is easy and secure with the Authorize.Net payment gateway or Orbital virtual terminal. E-commerce features let you set up recurring billing for subscriptions, create a simple checkout process, and allow customers to create profiles and store shipping locations and payment methods.

Chase also provides online and in-person HIPAA-compliant payment processing with its proprietary Instamed integration. Healthcare providers also enjoy Preferred Payment Rates and can offer patients payment plans for larger balances. You’ll have to pay a monthly fee for Instamed, but most processors, including Stripe, don’t meet HIPAA requirements for patient privacy.

Features and Benefits

• Specialized business integrations. Chase offers free and paid integrations for your business, including tools for marketing, events, subscriptions, rent collection/property, and financial management.
• Same-day funding. While standard payouts are the next day, if you have a Chase business bank account, you can have funds for processed transactions deposited into your account on the same day.
• Flexible business financing.  A variety of financing options are available to help you grow and manage your business, from lines of credit and small business loans to commercial real estate financing.
• Powerful business analytics software. In addition to tracking your sales and customer behavior, you can compare your performance to your overall industry and local competitors.

For more details, see our expert Chase Payment Solutions review.

6. Sekure Payment Experts: For Small Online Businesses on a Budget1

Sekure wants to make it clear – it’s not a traditional credit card processing company like Stripe. It’s a middleman that will analyze your business’s needs and budget, negotiate with its partners to secure the best pricing, and recommend a solution that can help you save.

Interchange-plus and flat-rate plans allow you to choose the most cost-effective solution. These plans include free same or next-day deposits, PCI compliance, and a free virtual terminal. Plans are month-to-month with no cancellation fee.

While Sekure doesn’t charge a monthly fee for its interchange plus and flat-rate plans, the transaction fees are high. On the other hand, it will let you bundle Edge, its zero-cost processing plan, with your e-commerce plan for one monthly fee if you sell in person and online.

Our comprehensive Sekure review has more info.

Features and Benefits

• Multiple payment gateways. Sekure partners with Authorize.net, PayFlow Pro, NMI, Cybersource, and other payment gateways, enabling it to offer discounted pricing for options that suit different needs.
• E-commerce tools. You can integrate popular online store platforms like Magento and BigCommerce or use OpenCart or ZenCart to add a shopping cart to your site. If you’re just starting, another option is to add one-click “Buy Now” buttons to your social media and website pages.
• Industry-specific software. Your dedicated consultant will recommend specialized POS equipment and software, such as RetailCloud for stores or WellnessLiving if you sell health and wellness products/services.
• Data breach forgiveness. PCI Level-3 businesses that process 20,000-1,000,000 transactions per year and PCI Level-4 businesses that process fewer than 20,000 transactions yearly can sign up for the PCI Plus Program. If your business suffers a data breach, you’ll be covered up to $100,000.

Which Stripe Alternative Is Right for You?

It might not be immediately clear which Stripe alternative is the best fit for your payment processing needs. Knowing your projected sales volume and most common transaction types can help you estimate your costs and decide which processor is right for your business.

If you’re looking for a service that can save you as much as 40% on your processing costs while offering a comprehensive suite of features for e-commerce businesses, Stax is my top recommendation1.

If you sell internationally, I’d suggest you look at Paysafe1. In addition to a choice of affordable plans, it allows you to accept payments via 250 global payment methods and 40 currencies.

Or, if you’re comfortable negotiating for the best possible rates, consider Leaders Merchant Services1. You’ll have everything you need to take online payments securely, and you won’t have to pay for any features you don’t want.

FAQ

Are there cheaper alternatives to Stripe for e-commerce payment processing?

Yes, but which alternative is cheaper will depend on your specific needs. If you process a high volume of online transactions per month, Stax offers the best rates and features. If you’d prefer an interchange-plus pricing model, Leaders Merchant Services offers a meet-or-beat guarantee that can help you negotiate the lowest possible rates for your business.

Which Stripe competitors are best for high-risk online businesses?

Paysafe is best for higher-risk merchants that sell internationally, especially those in industries like international gaming and crypto that other payment processors like Stripe don’t support. It offers top-of-the-line security features that can help you reduce risk and disputed transactions, which can improve your credit score.

How fast do the best Stripe alternatives pay out funds?

While Stax will transfer funds to your bank account on the same day for a fee, Chase Payment Solutions offers free next-day payouts as standard – same day with a Chase Business bank account

How do I decide which Stripe alternative is best for my e-commerce business?

This depends on several factors, such as your industry, transaction volume, and average transaction amount. If you process a high volume of transactions, Stax offers the best rates and features for an e-commerce business. If you’re new to e-commerce or have a lower sales volume, you may benefit from Payment Depot’s lower monthly fee.

For more detailed information about top Stripe alternatives, check out our expert review of the 10 best payment processors in 2024.