Stripe is an American-Irish payment provider suitable for both international and domestic businesses. One of Stripe’s latest payment solutions is the new Tap to Pay feature for iPhone and Android smartphones, which we’ll explore in this article.
Let’s start by giving you an overview of all the available payment solutions.
Sections
Is Stripe the Right Fit for Your Business?
Stripe offers online and in-person payment solutions for businesses of all sizes. It’s the ideal choice for companies that want to implement the following services:
- Global customer base: Stripe supports payments in over 135 different currencies, making it versatile for businesses with a worldwide clientele. Additionally, it supports various payment methods, including widely used credit and debit cards such as Visa, Mastercard, Maestro, Diners Club, JCB, Visa Electron, American Express, etc., and digital wallets like Samsung, Apple, Google, Alipay, and WeChat Pay in China.
- Online sales: While Stripe Terminal offers in-person payment processing integration with point-of-sale software, Stripe’s core strengths lie in online sales. Its standout features, such as an open application programming interface (API) and extensive currency acceptance, primarily benefit eCommerce businesses.
- Online checkout: Stripe empowers users to fully customise their checkout processes. While the software is accessible to non-technical users, using its full range of customisation options requires employees to have a background in software development. Therefore, in some cases, businesses using Stripe will need to hire someone with coding abilities or ask for additional technical support from the company.
Stripe In-Person Payment Options
Stripe sells multiple card payment readers that can help businesses process in-person payments. Another in-person payment option by Stripe is the Tap to Pay feature, available for iPhone and Android devices.
In the next paragraph, we’ll learn more about Stripe’s hardware and Tap to Pay.
Stripe Reader M2
Created by Stripe, the M2 card payment reader stands out as a light, portable, user-centric, and high-speed device. This reader is compliant with the PCI DSS standards for protection and encryption. Its high-level security measures safeguard payment data from potential malware and breaches.
Additionally, businesses can tailor the payment reader to their liking by selecting preferred colour schemes or palettes, branding elements, fonts, and logos.
The M2 mobile payment reader accepts the following payment methods:
- EMV cards
- Digital wallets, such as Google, Apple, or Samsung
- Magstripe
- Contactless UK or internationally-issued credit or debit cards
The device must be connected to Stripe’s POS via Bluetooth but can still collect transaction data even when it goes offline. This reader integrates with any electronic POS software and has a long-lasting battery, which takes approximately 2 hours to recharge fully. The battery lasts approximately 20 hours when the device is on standby and about 15 hours when it’s regularly used.
The reader supports integrations with Android, iOS, and React Native devices, has a storage capacity of 1MB, and has a RAM of 128kb.
Stripe Reader S700
The S700 Android card reader is a great option both for handheld and countertop payment operations. This device can be fully customised with third-party installations. It accepts payments with:
- EMV cards
- Contactless credit and debit cards
- Digital wallets such as Samsung, Google, and Apple Pay
- Magstripe
This card reader can connect with POS software via Wireless, Bluetooth, or Ethernet. Unlike the other reader, it doesn’t save payment data when offline. It can be integrated with the following software:
- Android
- iOS
- React Native
- JavaScript
- Integration via server
Businesses can customise the display screen and add tipping options so customers can add tips digitally. It operates on Android 10, has 4 GB RAM, and comes with extensive storage of 64 GB. Therefore, its battery lasts about 140 hours when it’s on standby and approximately 15 hours during regular use. Since it has a bigger RAM and extensive storage, it takes about two and a half hours to charge it fully, which is longer than the other reader.
BBPOS WisePOS E
BBPOS WisePOS E is a comprehensive and user-friendly POS solution with a larger display and touchscreen than the Stripe Reader M2.
This versatile terminal has multiple features so businesses can quickly process payments through contactless, chip & pin, and swipe (magstripe) methods. The card payment terminal is PCI DSS-compliant, so cardholders’ data stays encrypted and is instantly deleted once the transaction is successfully processed in the business’s bank account.
The terminal supports wireless solutions and offers a global “Tap to Pay” feature for added flexibility. Customers can make payments using credit or debit cards and digital wallets, such as:
- Visa
- Visa Electron
- Mastercard
- Maestro
- American Express
- Diners Club
- Google Pay
- Apple Pay
- Samsung Pay
With this terminal, businesses that operate in the UK can process Tap to Pay payments only through Android Pay. Additionally, Stripe subscribers will receive free round-the-clock technical assistance 365 days a year since the company is in charge of hardware maintenance.
BBPOS WisePad 3
The WisePad 3 mobile device of the BBPOS edition is compact, lightweight, and has a user-friendly interface. It has a long-lasting battery of approximately 15 hours when it’s actively used, which makes it an ideal option for businesses with a large number of daily customers.
Companies can process contactless payments on the display screen or by using the PIN typing pad since the device accepts:
- Chip EMV cards
- Digital wallets
- Contactless credit and debit cards
The device works via Bluetooth and can save payment data even when it’s in offline mode. Once the Bluetooth connection is on again, it will automatically process the transaction data to Stripe’s POS software. The device’s storage can collect 1MB of data. Additionally, it can be integrated with additional iOS, React Native, or Android devices.
Stripe (SDK) Tap to Pay: Features
Stripe launched the Tap to Pay feature for iPhone and Android in February 2023. This payment method helps businesses do the following:
Expand sales revenue: With Stripe (SDK) Tap to Pay, businesses can boost their daily revenue and income potential. Employees can use this feature with their iPhone or Android devices and receive payments on the go.
Easy installation: You can quickly set up and implement the feature in a matter of days. After downloading and installing the mobile app, you can start processing payments within minutes.
Payments on the go: Your serving staff can accept payments in various locations, even street markets, festivals, concerts, pop-up kiosks, and other events, without the need to sync the software with additional hardware.
User reports and analytics: Stripe’s POS software will automatically create user reports and analytics by reviewing the customer demographics and personal data. These reports can help businesses improve their marketing and company strategies and develop solutions for expanding their business and increasing the yearly sales revenue.
Multiple payment options: Customers can pay using all major credit or debit cards and digital wallets.
Tap to Pay for iPhone Devices
Stripe’s Tap to Pay on iPhone is one of the safest in-person payment methods available today. This is due to Apple’s management and encryption of card numbers and personal data. Apple doesn’t store any cardholder data on Apple devices or servers.
The service is currently available in the UK, US, France, and Australia, and businesses can use it on the following devices:
- United States: iPhone XS and any newer iPhone model working with iOS 16.0. Also supports newer iOS versions.
- France: iPhone XS and any newer iPhone model working with iOS 17 and the newer iOS versions.
- United Kingdom and Australia: iPhone XS and any newer iPhone model working with iOS 16.4 and the newer iOS versions.
Tap to Pay for Android Devices
With Tap to Pay on Android, users can easily accept payments by simply tapping their compatible Android phones or tablets. This feature enables you to connect with a large number of Android users across a range of NFC-enabled and Google-certified devices.
Compared to the Tap to Pay feature for iPhone, this option is available in more locations. Here’s a list of all the countries where you can use it:
- Austria
- The Netherlands
- Australia
- Canada
- Denmark
- Belgium
- France
- Singapore
- Finland
- Switzerland
- Czech Republic
- Germany
- Italy
- Sweden
- Luxembourg
- Malaysia
- Ireland
- United States
- New Zealand
- Portugal
- Norway
- Spain
- United Kingdom
How to Use Tap to Pay
To start using the Tap to Pay feature on Android or iPhone, you should sign up, create a Stripe merchant account, and then integrate Stripe Terminal. Once you do that, you can build an in-person checkout system for physical payments processed with a card reader or smartphone device.
You don’t need to connect the Tap to Pay feature to an additional payment terminal to use it.
Your staff can immediately begin accepting contactless payments after enabling Tap to Pay in Stripe’s mobile app. You can quickly install the option to all supported Android or iPhone devices in just a few minutes.
Once an employee starts the payment process, customers can pay for their orders by simply tapping their contactless debit or credit card or digital wallet on the payment device.
Stripe Online Payment Solutions
Stripe offers two online payment options – Stripe Checkout and payment links.
Stripe Checkout
Stripe Checkout is a ready-made payment form designed to enhance conversion rates. It can be optimised and used on desktop computers, laptops, tablets, and smartphones.
This feature can be added to an existing eCommerce website, or you can guide customers to a Stripe-hosted page where you’ll receive one-time payments or customer subscriptions.
Payment Links
This payment solution is ideal for online sales, even if you don’t have an eCommerce website. You can create a complete payment page from Stripe’s dashboard with a few simple clicks and share the link with your customers without coding. Here’s a list of its main features:
- Link customisation: You can easily promote your products, services, subscription offers, or fundraising initiatives by creating a custom link. Stripe allows you to tailor the link’s appearance by incorporating your logo and selecting your preferred colour palette to align it with your brand identity.
- Link sharing: You can share the payment link by pasting or embedding it across various platforms and channels, such as Facebook, LinkedIn, X, Instagram, WhatsApp, TikTok, etc.
- Secure payment: You can keep track of all transactions made via the payment link through the Dashboard or receive email notifications when you receive a successful payment in your bank account.
Prices and Fees
Stripe offers two pricing plans:
- Standard: This plan has no extra subscription fees except the fixed rates per transaction. Businesses that subscribe to the Standard plan will have to pay 1.5% with an additional 20p for transactions made with UK-issued debit and credit cards and 2.5% and an extra 20p for cards issued in the EU.
- Custom: Businesses can customise their Stripe subscription plan to meet their unique wants and needs. To do so, they must contact Stripe’s sales team and submit their application for a tailor-made offer.
Hardware Prices
- BBPOS WisePad 3: £51
- BBPOS WisePOS E: £169
The rest of Stripe’s devices are currently unavailable in the UK.
Company Summary
Founded in 2010 in San Francisco, United States, Stripe is a tech business that sells payment software and hardware for hospitality, retail, and entertainment-oriented companies of all sizes. The company’s main offices are in San Francisco and Dublin.
Stripe’s tools and features are used by more than 100 businesses in more than 45 countries worldwide that process approximately $1B yearly.
Various internationally renowned companies use Stripe’s tools, such as:
- Warby Parker
- Lightspeed
- Wix
- Crumble Cookies
- Hertz
- Shopify
- Housecall Pro
- Mindbody
Stripe’s services accept more than 135 international currencies with in-person and online payment solutions. The company has more than 8,000 employees working in their branches worldwide.
The company has two main branches – one in Dublin and one in San Francisco – and subsidiary offices in Paris, London, Tokyo, and Singapore. Patrick Collison, the current managing CEO, and John Collison founded the company. David Singleton is the managing CTO, Trish Walsh is head of Stripe’s General Counsel, and Christa Davies is the CFO and independent managing director.
Stripe’s UK offices are located on the seventh floor at Bower’s Warehouse, at 211 Old Street (EC1V 9NR, London). The company’s main Europe office is in Dublin, at the Grand Canal Street Lower.
If you’d like to get in touch with the sales or technical support departments, you can submit your inquiry via this page.
There’s also live chat and telephone contact available for Stripe users, but this information is only available if you already have an active account and subscription.
Online Reviews
Stripe has over 13,000 reviews on Trustpilot and a low average score of 2.7 out of 5.0 stars. The latest reviews are positive, but the older ones mention that Stripe’s customer support was not responding when they had inquiries about issues with the hardware and software tools.
The company also has 413 reviews on Sitejabber and a low average score of 1.1 out of 5.0 stars.
On the other hand, they received over 3,000 reviews on Capterra and a high average score of 4.7 out of 5.0 stars. Most reviewers were happy with Stripe’s design functionality and customer services.