In the modern world, online payment processing has become a must for any e-commerce business. Along with the development and widespread distribution of online payments, new solutions for accepting payments are constantly appearing - various payment systems, online cash registers, services, etc. Now the main difficulty is to correctly choose a reliable, convenient, and most importantly secure solution for your business among many others.
Today we will analyze the advantages and disadvantages of working with the most common and popular payment solutions for entrepreneurs from Russia, Ukraine and other CIS countries - Stripe, PayPal and 2Checkout.
Stripe is known for its industry-leading developer tools that enable business owners to integrate and customize their payment processing solutions using a variety of programming languages. Stripe also allows your company to accept online payments from bank cards and quickly withdraw funds directly to your bank account.
You can use Stripe to accept payments from most bank cards, including Visa, MasterCard, American Express, Discover, and several other foreign credit cards, as well as mobile wallets like Google and Apple Pay.
Plus, Stripe handles over 100 different foreign currencies and converts them at no additional cost.
PayPal is trying to make online purchases more secure by providing a form of payment that does not require the payer to disclose a credit card or bank account. This way, money is safe, privacy is protected, and since the customer base is very large, transactions are carried out fairly quickly.
The use of PayPal significantly increases the conversion of an online store due to the trust of a large number of Internet users in this system, but when connecting it, it is necessary to take into account some negative points:
The company has over 50,000 merchants and provides services in over 200 markets around the world. 2Checkout accepts payments from all major global debit and credit cards in 87 currencies.
As with alternative payment systems, merchants must understand and comply with 2Checkout's policies and rules, especially with regard to acceptable types of business and transactions, in order to avoid money blocking or account ban issues.
A few facts about working with the 2Checkout payment system:
In addition to the above payment solutions, there are a large number of different alternative services for accepting online payments, such as Square, Authorize.net, G2A PAY and others, whose terms may seem attractive at first glance. In fact, only a small number of users are able to work with them stably.
Based on our many years of experience and the experience of many of our clients, we can firmly say that Stripe is the optimal solution for accepting payments from anywhere in the world.
Let's summarize: if you are the owner of an online business (especially relevant to those who live in the CIS countries) and want to accept payments from anywhere in the world, while avoiding problems associated with freezing funds, long-term withdrawals, registering an individual entrepreneur or a legal entity Stripe is the best option for you.
However, despite the fact that the system allows you to accept payments from anywhere in the world, Stripe does not serve businesses in Russia and the CIS countries.
1. Opening a company in the USA + work through Payoneer.
The main disadvantage is that at any time you may be asked for supporting documents, bank statements, confirmation that one of the founders is a resident of the country. Unstable option for work from the CIS countries.
2. Stripe Atlas.
In 2017, Stripe released the Stripe Atlas service, which allows you to start a company in the United States and accept payments through Stripe. Similar risks as in the previous version. The main difference is that Stripe itself helps to register the company.
3. Rent or purchase of a Stripe account.
This option is the most optimal for those who live in a country that has restrictions on the work of Stripe.
4. Registration of a company in the UK or another country where Stripe is available
The most reliable and stable option for accepting payments from all over the world. In some cases, you can register a company remotely. The main thing is to choose a country and a verified registrar. In the following articles, we will cover the topic of registering a company abroad in more detail.
After reading the article, please share your opinion, which payment system attracted your attention the most?
If the article was useful, then we will be grateful if you support our channel with a subscription and comment
Today we will analyze the advantages and disadvantages of working with the most common and popular payment solutions for entrepreneurs from Russia, Ukraine and other CIS countries - Stripe, PayPal and 2Checkout.
Stripe
An international payment system that provides a reliable and secure online payment service for both businesses and customers. Stripe surpasses industry security standards and is trusted by thousands of companies of all sizes around the world, including many Fortune 500 companies.Stripe is known for its industry-leading developer tools that enable business owners to integrate and customize their payment processing solutions using a variety of programming languages. Stripe also allows your company to accept online payments from bank cards and quickly withdraw funds directly to your bank account.
You can use Stripe to accept payments from most bank cards, including Visa, MasterCard, American Express, Discover, and several other foreign credit cards, as well as mobile wallets like Google and Apple Pay.
Plus, Stripe handles over 100 different foreign currencies and converts them at no additional cost.
- Instant integration with any CMS;
- Convenient payment window (without going to other pages and registering a personal account) and the ability to customize it;
- Advanced anti-fraud system. Stripe Radar provides the ability to regulate payment terms for buyers. 3DS request, risk-score. Also, Stripe is one of the first to introduce Strong Customer Authentication (SCA);
- Instant reception and refund of funds;
- Withdrawal of funds on fresh accounts is 5-7 days, on preheated accounts the withdrawal is 2 days.
- Stripe commission is 2.9% + 30 ¢ per transaction; There are no fees for registering an account and connecting to the site
PayPal
PayPal is a one-stop payment service that makes it easy for merchants to accept online payments and for shoppers to shop quickly and securely. The system has been in existence for over 20 years and serves over 200 countries in 25 different currencies.PayPal is trying to make online purchases more secure by providing a form of payment that does not require the payer to disclose a credit card or bank account. This way, money is safe, privacy is protected, and since the customer base is very large, transactions are carried out fairly quickly.
The use of PayPal significantly increases the conversion of an online store due to the trust of a large number of Internet users in this system, but when connecting it, it is necessary to take into account some negative points:
- To register a business account, you must have a legal entity. persons or individual entrepreneurs; In total, you lose 12.5-13% from turnover (PayPal commission + 6% tax (minimum) + various contributions). Thus, if you are engaged in an e-commerce business, then your net profit will decrease by an average of 2 times (the average net profit in our area is 25-30%);
- It is much easier for PayPal users to open and win disputes than buyers who pay for purchases with bank cards;
- The need to download a tracking number for all orders;
- Initial freeze of funds for 21 days;
- In case of minor violations of the system policy, funds may be blocked for up to 180 days;
- Frequent checks by the system, since any activity in Russia and other CIS countries will be considered as a high-risk business.
2Checkout
2Checkout is an electronic payment service founded in 2000 that allows merchants to accept online credit card payments from customers at home and abroad. Also referred to as “2CO,” 2Checkout offers similar services to PayPal and Stripe.The company has over 50,000 merchants and provides services in over 200 markets around the world. 2Checkout accepts payments from all major global debit and credit cards in 87 currencies.
As with alternative payment systems, merchants must understand and comply with 2Checkout's policies and rules, especially with regard to acceptable types of business and transactions, in order to avoid money blocking or account ban issues.
A few facts about working with the 2Checkout payment system:
- Long consideration of the connection application, high probability of rejection;
- High probability of unjustified blocking of the account and freezing of money;
- To pay for the order, the client is redirected to the site of the 2checkout.com system;
- Poor customer support.
In addition to the above payment solutions, there are a large number of different alternative services for accepting online payments, such as Square, Authorize.net, G2A PAY and others, whose terms may seem attractive at first glance. In fact, only a small number of users are able to work with them stably.
Based on our many years of experience and the experience of many of our clients, we can firmly say that Stripe is the optimal solution for accepting payments from anywhere in the world.
Let's summarize: if you are the owner of an online business (especially relevant to those who live in the CIS countries) and want to accept payments from anywhere in the world, while avoiding problems associated with freezing funds, long-term withdrawals, registering an individual entrepreneur or a legal entity Stripe is the best option for you.
However, despite the fact that the system allows you to accept payments from anywhere in the world, Stripe does not serve businesses in Russia and the CIS countries.
How to connect Stripe in the CIS?
Let's consider several options for integrating the Stripe payment system in Russia, Ukraine and other CIS countries.1. Opening a company in the USA + work through Payoneer.
The main disadvantage is that at any time you may be asked for supporting documents, bank statements, confirmation that one of the founders is a resident of the country. Unstable option for work from the CIS countries.
2. Stripe Atlas.
In 2017, Stripe released the Stripe Atlas service, which allows you to start a company in the United States and accept payments through Stripe. Similar risks as in the previous version. The main difference is that Stripe itself helps to register the company.
3. Rent or purchase of a Stripe account.
This option is the most optimal for those who live in a country that has restrictions on the work of Stripe.
4. Registration of a company in the UK or another country where Stripe is available
The most reliable and stable option for accepting payments from all over the world. In some cases, you can register a company remotely. The main thing is to choose a country and a verified registrar. In the following articles, we will cover the topic of registering a company abroad in more detail.
After reading the article, please share your opinion, which payment system attracted your attention the most?
If the article was useful, then we will be grateful if you support our channel with a subscription and comment
