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What is Stripe and how does it work?

Andy Vilchez
4 min read
Stripe is a little known payment platform.

Many people wonder what Stripe is and how it works, since, although it is widely used, it is still unknown. Despite the fact that today there are a large number of different payment options on the market. Each of them offers completely different features, advantages and disadvantages.

Surely you already know some like PayPal or Binance, however, Stripe can become an excellent option to collect. Whether you have an online store, or need to charge a customer, this platform can help you.

In this article we are going to tell you about what Stripe is and how it works. This is a really popular platform that is worth trying.

What is Stripe and how does it work?

This is a powerful payment gateway.

Stripe is an online payment processing platform that allows businesses to send and receive payments over the Internet. It is based in San Francisco, California.

Stripe was founded in 2010 by Irish entrepreneur brothers John Collison and Patrick Collison. It was publicly launched in September 2011 after receiving a $2 million investment from venture capitalist Peter Thiel, Sequoia Capital, and Andreessen Horowitz.

Stripe Payments makes it easy for merchants to start and run an online business by building a suite of products. These could save many hours, money, and resources that are required to create and configure an online payment processor to start accepting online payment from customers.

Stripe counts some of the best companies in the world as their payment processor of choice, including Amazon, Shopify, Github, Yelp, Spotify, Uber, TED, Lyft, Reddit, and hundreds of top-tier companies globally.

The way it works is quite simple, it is a first level payment gateway with which you can make payments through credit or debit cards. When a payment is made through Stripe, the money is stored in your account and then you can send it to your bank account.

Advantages and disadvantages of using Stripe

This platform has several advantages.

Stripe is a great platform, but the fact that many people don't know what Stripe is and how it works can make things difficult. Next, we are going to talk about the main advantages and disadvantages of this payment processor.


  • You can register for free.

  • Customers do not need to be registered to make a payment through the gateway.

  • There is no need to leave the website to make a payment, as everything can be processed on the same site. This gives the customer greater confidence.

  • Accepts almost any type of credit or debit card on the market.

  • Offers lower rates compared to competitors.

  • The company in charge of Stripe usually keeps the tool updated. This means that every so often new features are added to it.

  • It is very simple to use, so it will not represent any problem.


  • It's for businesses only, so you can't open a personal Stripe account.

  • Although the commissions are usually lower than in other platforms, they charge you a percentage.

  • It is not available for all countries.

What are the fees that Stripe charges?

The commissions charged by the platform are the following and it charges you directly from the payment made by the client. Of course, commissions will depend on where you are. However, we put the example of Spain.

  • For payments with European cards, the platform charges 1.4% + €0.25 per transaction.

  • In the case of non-European cards, the commission is 2.9% + €0.25 per transaction.

If you want to know more about Stripe's current fees, you can find all the information on their website.

How can Stripe be implemented on a website?

Implementing Stripe can be extremely simple.

Now that you know what Stripe is and how it works, you are probably wondering how it can be integrated into your website or online store. The truth is that the implementation is not so complicated, especially if you use a CMS. Stripe has scripts or modules that will allow you to implement it in a matter of minutes.

If you use WooCommerce, Prestashop, Magento or Shopify, all you have to do is download the plugin, install it and configure it. With just a few minutes, you will have your site with this payment gateway.

Now, in the event that you have a custom-made website, you may need the services of a programmer to install the payment gateway. If you know anything about programming, chances are you'll be able to do it yourself.

Este artículo está también disponible en español
¿Qué es Stripe y cómo funciona?
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Andy Vilchez

Member since over 2 years

Amante de la tecnología y los videojuegos. Aficionado a la criptomonedas y todo lo relaciona con ellas. Me encanta escribir y se ha convertido en mi pasión.

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