Alternative Payment Processors to Stripe

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Libby James
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Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Stripe card payment alternatives

Are you an online merchant based in the United Kingdom looking for alternative payment processors to Stripe? This article will explore a range of alternative payment processors that can provide you with diverse payment options and cater to a broader customer base. Whether you’re seeking lower fees, additional features, ditching the monthly fees, or enhanced security, exploring alternative payment processors can offer significant benefits for your business.

Why Consider Alternative Payment Processors?

Diversifying your payment options and considering alternative payment processors can bring several advantages to your business: 

  1. Expand Payment
    Options offering multiple payment methods allow you to cater to a wider customer base. By providing alternative options such as e-wallets, direct bank transfers, or digital currencies, you can attract more customers and increase your conversion rates.
  2. Subscription Payments
    If your business offers subscription-based services or products which require recurring payment facilities, alternative payment processors may offer better features and management tools for recurring billing and subscription management. This can streamline your operations and provide a smoother experience for your customers.
  3. International Payments
    Expanding your business globally requires a payment processor that supports international payments. Alternative payment processors often offer features such as multi-currency support, competitive exchange rates, and localised payment methods. This enables you to accept payments from customers worldwide and conduct business internationally
  4. Cost Savings
    One of the primary reasons to explore alternative payment processors is the potential for cost savings. Different processors have varying fee structures, and you may find alternatives that offer lower transaction fees, reduced monthly charges, or more favourable pricing plans. Switching to a cost-effective processor can improve your profit margins.
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List of Alternative Payment Processors

Here are some alternative payment processors worth considering as alternatives to Stripe for your online business in the UK, supercharging your shopping cart software: 

PayPal:

PayPal is a widely recognised and trusted payment processor that offers a seamless checkout experience for customers. It supports international payments, provides subscription management tools, and offers competitive pricing. 


Square: 

Square provides comprehensive payment processing solutions, including point-of-sale systems and online payment options. It offers subscription management features, supports international payments, and can integrate with popular e-commerce platforms.

Adyen: 

Adyen is a global payment processor known for its extensive payment method coverage and robust security measures. It supports subscription payments, offers multi-currency capabilities, and provides advanced fraud detection tools. 

Worldpay: 

Worldpay offers a range of payment processing solutions, including card payments, digital wallets, and alternative payment methods. It supports subscription billing, provides international payment options, and has customisable fraud prevention features.

Terminated by Stripe: Understanding The Importance Of Alternatives

It’s important to be aware that Stripe has the authority to terminate merchant accounts based on their terms and conditions. While Stripe is a popular choice for many businesses, it’s crucial to have contingency plans and alternative payment processors in mind. Being terminated by Stripe can disrupt your business operations and hinder your ability to accept payments. By considering alternative payment processors and instigating a solid fraud protection strategy, you can mitigate the risk of account termination and ensure continuity in your payment processing capabilities.

How To Choose The Right Processor For Your Business

When selecting an alternative payment processor, it’s essential to consider your specific business requirements and goals. Here are a few factors to keep in mind during the payment processing platform decision-making process: 

  1. Payment Options 

Ensure the processor supports a variety of payment methods that align with your customer’s preferences, including credit cards, e-wallets, and local payment options. 

  1. Subscription Management 

If you offer subscription-based services, look for processors that provide robust subscription management features, such as automated billing, plan customisation, and easy customer management. 

  1. International Payments 

If you conduct business internationally or plan to expand globally, choose a processor that supports international payments, offers multi-currency capabilities, and provides competitive exchange rates. Local payment methods are a key consideration when choosing a future proof gateway supplier.

  1. Cost Considerations 

Compare the transaction fees, monthly charges, setup costs, and any additional fees associated with each processor. Consider the overall cost structure of Stripe competitors and how it aligns with your business volume and revenue. 



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FAQ’s

Your questions about Stripe answered
Are alternative payment processors as reliable as Stripe?
Yes, alternative payment processors are reputable and reliable options. However, it’s important to research each processor’s track record and customer reviews before making a decision.
Can I use multiple payment processors simultaneously?
Yes, many businesses utilise multiple processors to offer a wider range of payment options. However, it’s crucial to ensure smooth integration and manage the associated fees.
Do alternative payment processors support recurring billing or subscriptions?
Yes, most alternative payment processors offer recurring billing and subscription management features. Check the specific capabilities of each processor to find one that suits your needs.
Can I switch from Stripe to an alternative payment processor easily?
Yes, switching payment processors is generally straightforward. However, it’s recommended to plan the transition carefully and communicate with your customers to avoid any disruptions.
Do alternative payment processors have customer support?
Yes, alternative payment processors typically offer customer support through various channels, including email, live chat, and phone.
Can I accept payments in different currencies with alternative payment processors?
Yes, many alternative payment processors support multiple currencies, allowing you to accept payments from customers worldwide. Check the specific capabilities of each processor to confirm.
Are there any setup fees associated with alternative payment processors?
Setup fees vary depending on the payment processor. Some may charge a one-time setup fee, while others may not have any setup fees at all. Review the pricing details of each processor to determine the costs involved.
Do alternative payment processors offer analytics and reporting features?
Yes, most alternative payment processors provide analytics and reporting features to help you track sales, monitor payment trends, and gain valuable insights into your business performance.

How MAS can help

Exploring alternative payment processors to Stripe can open up new opportunities for your online business. By considering a range of options, you can find a processor that offers competitive fees, additional features, and enhanced security while catering to your customer’s preferences. Remember to evaluate your business needs, compare fees and services, and choose a processor that aligns best with your requirements.

At Merchant Advice Service, we understand the importance of finding the right payment processor for your specific business needs. Our team of experts is here to help you navigate through the process and provide tailored guidance based on your requirements. Whether you need assistance with choosing the right processor or understanding the intricacies of subscription payments or international transactions, our knowledgeable advisors are just a click away. Want help from our experts? Click here! Additionally, if you enjoyed reading this article and want more advice like this, make sure to visit our blog page for more valuable insights and information to help you optimise your payment processing strategies.

Conclusion

Choosing the right payment processing company is vital for small businesses, especially when it comes to handling credit card transactions and processing payments efficiently. With user-friendly mobile apps and real-time analytics, alternative processors offer a range of features that can be tailored to your needs. 

Whether you’re concerned about PCI compliance, face-to-face person transactions, or accepting American Express, it’s worth exploring options beyond Stripe to find a solution that offers competitive processing fees and reliable card readers. Merchant Advice Service is here to guide you through this important decision, ensuring you pick the best fit for your business needs.



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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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