Nowadays payment processors have become a great matter for business owners. They need to choose the best option and the best payment method to make purchasing easier for their customers. There are some processors that have already proven to be strong such as Paypal and stripe. These companies have a lot of credit at the moment which makes people trust them more. However, does this mean that there is no space for the new ones? Or a better question! Is there a payment processor that can offer better services than the known ones? This article focuses on Paypax vs Stripe comparison which reviews the services these processors offer.
Paypax vs Stripe: Transaction and service fees
The first thing a business owner would probably care about is transaction and service fees. A payment processing solution is what matters a lot so you need to find the best one if you wish to sell your services and products online.
You probably know about Stripe fees. They charge you a flat rate of 2.9% + 30¢ as long as you are doing under $1 million in volume per year. However, this can vary from country to country.
Paypax, on the other hand, has different approaches depending on your payment method. Paypax merchant gateway charges about 0/5% per transaction- made via Paypax credit. It charges 2.5 for the ones made via Skrill and 4% for transactions that are made via Bitcoin and Paypal.
Paypax vs Stripe: When you get paid
Stripe has a rolling 2-day transfer in the United States and Austrailia and 7-day in most other countries. However, Paypax takes between 24-48 hours to pay out. It’s mainly faster but it doesn’t mean that security is not taken seriously since they provide an advanced fraud protection system.
Paypax vs Stripe: Security
Speaking of security, this is another very important factor you need to consider while choosing a payment processor. Both Stripe and Paypax take security seriously. Their features are mainly the same which make them stable and secure.
Paypax assures you that the credit card data entered into your payment form will never be sent to the server of the website and this information is directly sent to Paypax. This way the company makes sure that your data will never get stolen. Stripe also has mainly the same approach.
Paypax vs Stripe: Customer service
If you ever decided to go for one of the plans that Paypax offers you can be sure that it will always support you afterward. You can always send an email or send a message right on your panel to the support team and real engineers are ready to answer you as fast as possible. Since Paypax is a new payment processor they do their best to make sure they provide perfect customer service.
Stripe also accepts emails but to be honest the service they offer is not really convenient. You might need to wait for hours to get a reply.
Paypax vs Stripe: Optimized reports and insights
Financial reporting, consolidated reports, and automated accounting support accelerate and streamline reconciliation of transactions. Paypax gives you charge, fee, transfer, and refund information in real time the Dashboard of your panel. Once a transaction is made, these also expedite and simplify the way you are payed from unified payouts.
Paypax or Stripe?
Well, in the end, you are the one to choose which processor is the best for your business and whose plans meet your needs better. Stripe might seem more trustworthy to the customers but Paypax can make everything way easier for you. Moreover, the service and support are more convenient.