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With the advent of the internet, everything has transformed into its electronic version. Banking is not far behind. Now when people have access to all kinds of gadgets like laptops, phones, tablets - banking is just one click away from making financial transactions!The biggest advantage of internet banking is the convenience. It is much better than physically going to the bank in many ways:You can make a transaction from anywhere - you need not actually go to a bank counter - you have access from home, work or even when you are on a holidayYou can make a transaction at any time - you need not abide by the working hours of the bank. You need not even worry about Sundays or other holidays - your account is accessible 24x7.You can use any device with internet access for your bank activities - phones, laptops, desktops & tablets - anything.Banks offer a wide range of services - payment of bills, transfer of money, checking account transactions via the internet.All the transactions are automatically updated immediately; therefore you always have access to your information without submitting any slips or documents. Thus your account is always up-to-date without any discrepancies since the process is completely automatedThe best part about internet banking is that you can keep track of all your different accounts simultaneously. In case you have multiple accounts, you need not go to different branches of your bank. This saves a lot of time.Also Check : Best General Insurance Management Software & SolutionsSoftware For Insurance Management - Eurobase Synergy2An online bank account is very easy to create. All you need to do is request your bank to create an online account for you. These days when you open a new account, your login details are sent along with the welcome kit itself. Application for loan, new accounts, trading accounts or requests for new Cheque books can also be done online.Bill payment is one of star features of internet banking. Every bill, be it groceries, mobile phone, electricity, shopping - can be paid instantaneously using online banking. You need never step out of the house to different stores to pay each bill. This also cuts down the time you spend standing in queues for bill payment. One important advantage is that you can pay your credit card bill online, be it weekend or holiday time - this ensures that you never incur the heavy penalties of not paying the bill on time.

The good news is that for most online transactions, PayPal and Stripe charge exactly the same amount. However, Stripe also accepts ACH transactions, which PayPal doesn't, and offers them for just 0.8% per transfer. Stripe's in-person payments solution is still in beta, so it isn't widely available. Dec 7, 2018Stripe vs PayPal – Which One Is Better? (Pros and Cons)Last updated on Apr 3, 2019, by Lisa GennaroAre you trying to decide between Stripe vs PayPal to collect payments or donations on your website?Because Stripe and PayPal are the most popular online payment solutions, your decision on picking a payment provider for your site probably comes down to these two.This article will compare the pros and cons of both payment gateways, so you can decide if Stripe vs PayPal works better for you to accept online payments for your business.Stripe vs PayPal ComparedStripe and PayPal are two of the most well-known payment solutions that let you collect money online. To collect funds from your site visitors through your website, your business needs a payment provider. If you want to know the differences between Stripe vs PayPal, you have to look at the pros and cons of both.What Exactly Does Stripe Do?Stripe is an online payment service that lets people accept and send money over the internet, and its popularity is growing in the eCommerce world. Stripe is especially liked by code-savvy people or teams with in-house programmers because of its customizable development tools. It’s a popular pick for small businesses but is also used by companies like Pinterest, Lyft, Blue Apron, and TaskRabbit.What Exactly Does PayPal Do?PayPal is a payment solution that lets users make and receive payments online, and it’s very well-known. PayPal claims to have over 267 million customer accounts, including over 21 million merchants. Nearly everyone has a PayPal account these days and it’s easily one of the most recognizable names in the eCommerce payments industry.Collecting payments on your website is easy with WPForms for many types of businesses, including:FreelancersBrick-and-mortar shops who want to also sell onlineNonprofits collecting donationseCommerce companiesAgenciesOnline marketplacesEntrepreneursAnd moreTo get started creating a simple order form right away, read our tutorial on how to create a simple order form in WordPress.Stripe vs PayPal at a GlanceWPForms integrates with both Stripe and PayPal for accepting payments, but you’ll still want to research the differences between the two. Let’s take a look at a summary snapshot of Stripe vs PayPal.ServiceStripePayPal StandardFee per Transaction*2.9% + 30¢2.9% + 30¢Nonprofit Discount*2.2% + 30¢2.2% + 30¢Setup Costs or Monthly FeesNoNoContract RequiredNoNoMicropayments (<$10)Same Flat Rate5% + .05¢Recurring BillingYesNoChargeback Fee$15$20RefundsNo Fees ReturnedFixed Fee ReturnedCustomer SupportEmail, Help Center, 24/7 Phone & ChatEmail, Help Center, Phone & ChatEase of UseEasyEasyEase of SetupModerateEasyPCI ComplianceYesYesCountries Available32+200+Access to Funds Times2 Days (Average)ImmediateData PortabilityYesNoOnline InvoicingFree for your first $1M in salesFreeIn-Person Card ReadersPaidFree & PaidPayments Handled 100% on Your SiteYesNo*US-based only. Fees vary by country.Important Considerations When Choosing Stripe vs PayPalThere are some important things to compare when choosing Stripe vs PayPal:Since this is a lengthy article, we’ve added a table of contents for easy navigation.CostMicropaymentsChargebacks/RefundsCustomer SupportEase of UseEase of SetupSecurityAvailabilityAccess to Funds TimeCompatibilityData PortabilityOnline InvoicingCard ReadersWhere Payments Are HandledLet’s take a deeper look at each factor:CostBoth Stripe and PayPal are very transparent about their fees, which is one of the reasons why they’re leaders in the online payments industry. Both Stripe and PayPal’s US fees per transaction are 2.9% + 30¢ and both offer plans with no setup costs, basic monthly fees, or contracts.So, with both Stripe and PayPal, your business is eligible for lower pricing if you hit a certain number in monthly sales. Stripe fees get lower at $80,000 per month and for PayPal, it happens at a much lower sales volume of $3,000 per month.Both companies offer nonprofit discounts at 2.2% + 30¢ for US fees.MicropaymentsIf you’re processing transactions of less than $10, Stripe offers micropayment support with the same flat rate as your standard fee per transaction. Paypal’s micropayment rates are 5% + .05¢ per transaction.Chargebacks/RefundsA chargeback is a charge reversal that happens when somebody contacts their bank and reports a transaction on their card that they don’t agree with or think is a fraud. They exist to protect cardholders but are sometimes over-utilized which can be frustrating since your business will pay a fee for each chargeback that happens.Stripe has a chargeback fee of $15, while PayPal’s chargeback fee is $20.Also, if your customer gets a refund, Stripe won’t return any processing fees to you. On the other hand, PayPal will return just the fixed fee, but not the percentage.Customer SupportStripe has several ways to get in touch when you have questions including a help center, social media, and chat support channels (with support reps or developers), plus phone and email support.PayPal has multiple ways to get answers to your questions from their customer support team like a community forum, a help center, and social media, plus email, live chat, and phone support.Even with all these ways to get your questions answered, users still say that the quality of customer service from both Stripe and PayPal can vary from good to poor and is frustrating at times. However, Stripe recently added 24/7 access to both phone and chat support while PayPal’s support still goes dark at some hours of the day.Stripe has also added an option for paid Premium Support with extra features:Ease of UseBoth Stripe and PayPal are known for being super easy to use. Both companies have made it really simple for customers to pay online.Ease of SetupStripe is more customizable over PayPal. However, to embed a feature like a Pay With Card button on your site, Stripe requires a bit more development knowledge and can sometimes be tricky for non-technical users. With WPForms, setup for both Stripe and PayPal is a breeze since they’re both available in our pre-built form templates with the Stripe and PayPal Standard Addons.SecurityBoth Stripe and PayPal’s services are PCI Compliant. In other words, they meet the strict standards of the Payment Card Industry and your cardholder data is stored securely.AvailabilityPayPal is available is many more countries than Stripe. Currently, PayPal is offered in 200+ countries while Stripe has just 32+ countries (and growing).Access to Funds TimeStripe will automatically deposit your funds into your bank account with a 2-day average payout time. On the other hand, your funds are available immediately in your PayPal account with PayPal Standard. However, PayPal averages a 2-4 day payout time when moving your funds from your PayPal account into your bank account.CompatibilityYou can use both Stripe and PayPal with WordPress, and both products are integrated with WPForms.Data PortabilityAt some point, you may want to move all your data to another payment processor that is not Stripe or PayPal. This is known as Data Portability.Stripe values Data Portability, so they’ll help you move your credit card data in a PCI compliant way.PayPal won’t give you this data if you try to switch processors, which can be a headache. For some people, it’s important to have the choice to be able to move their payment data if they want.Online InvoicingStripe and PayPal both have customizable online invoicing. This is free with PayPal, and free with Stripe until you bill over $1 million. You may be surprised how quickly your sales add up. If your online store is doing poorly in sales, check out this guide to eCommerce optimization on our sister site that can help boost your revenue.Card ReadersIf you’re a brick-and-mortar store adding an online presence and want to use the same payment processor for your storefront and your website, you can do just that with both Stripe and PayPal.PayPal has integrations into many popular Point of Sale systems, and both Stripe and PayPal offer their own physical card readers. PayPal will give you free card readers and also has paid card readers you can buy, while Stripe only offers paid card readers.Where Payments Are HandledIt’s important to note that Stripe lets people pay you without ever leaving your website. PayPal requires people exit your website to sign in to a PayPal account before being redirected back to your site, which may be undesirable for you if you want to keep your branding consistent from start to finish during your customer’s buying process.On the other hand, this step may not bother some business owners as this is a fairly familiar process for many customers, but it’s a factor to consider.Stripe ProsHere are some of the benefits of using Stripe to collect money online:Flat, predictable ratesEasy for your customers to useKeep and move your customer dataCustomers never leave your site during the buying cycleNonprofit discountsNo contract requiredLower chargeback fee ($15)24/7 supportMultiple support options (help center, phone, live chat, and email)Developer live chat support for complex issuesPCI CompliantStripe ConsThis solution might not be a perfect fit for everyone:Isn’t as user-friendly to set up (The WPForms support team has you covered with this guide on how to install the Stripe Addon)Not as well-known or a household name like PayPalTakes longer to access your money (2-day average)No fees returned with refundsInconsistent support qualityAvailable in fewer countries than PayPalOnline invoicing only free until $1M in salesPayPal Standard ProsLet’s check out some benefits of using PayPal Standard for accepting payments on your website:Flat, predictable ratesEasy to set up an accountEasy for your customers to useIntegrations with some POS systems if you want to sell in personCustomers are familiar with and trust PayPalFunds are available immediately in your PayPal accountNonprofit discountsNo contract requiredFixed fees returned with refundsMultiple support options (help center, phone, live chat, and email)PCI CompliantAvailable in 200+ countriesFree online invoicingFree card readers for your storefrontPayPal Standard ConsLike most things, there are a few downsides to using PayPal Standard to collect payments on your website. Let’s take a look:Can’t move all your customer data to another payment processorNo Recurring BillingRedirects customers away from your website during the checkout processHigher chargeback fee ($25)Inconsistent support qualityStripe vs PayPal – Which One Is Better?So which online payment gateway should you use?So which online payment gateway should you use?The answer depends on your business’ individual needs including your industry, the type of customers you have, and what you’re selling. One type of merchant may prefer to go with one payment solution over another.It’s also important to note that with WPForms, you don’t have to select just one payment solution to accept payments on your website.You Can Use BothTo use both Stripe and PayPal, you’ll need to set up accounts with each company. This way, you can allow your visitors to select which one they want to use. Head over to our guide on how to allow users to choose a payment method to learn more.If you do this, keep in mind that your funds will be deposited to your bank account separately, which could cause extra administrative work. You’ll be spending more time dealing with both Stripe and PayPal if you’re using the two, so weigh all your options before deciding if this is the best route for you.With the simplicity of WPForms, even non-technical people can create beautiful order forms that accept payments or donations right on their WordPress site with our pre-built donation and order form templates. You can easily let users choose if they want to pay through either Stripe or PayPal in your forms.Final ThoughtsBoth Stripe and PayPal offer great features and major flexibility. Ultimately, which payment gateway you choose depends on your business’ specific needs. Accepting payments in WordPress is super simple with WPForms. With our Stripe Addon and PayPal Standard Addon features, you can easily collect payments and donations through the most popular online payment gateways directly on your website.And there you have it! You can now make an educated decision about whether Stripe vs PayPal will be a better fit for your business to collect payments or donations online, based on their individual pros and cons.

My husband and I worked really, really hard, and we built a small house. When we could finally afford to upgrade the market wasn’t great, so we rented out the first one waiting for a more opportune time to sell. I discovered that the regular income from rent was better in the long term, so I invested the profit in a small apartment building. I borrowed money and built a few more units, and eventually it became my primary source of income. This is money that pays my bills, and will put my children through college, but earlier this year the government decided that I no longer had the right to take my own properties back from people who refused to pay rent, though I was still legally obligated to pay insurance, taxes, utilities, and maintenance on the homes they were living in for free.Yes, my rights were taken away, but let’s face it, most of you don’t give a shit. You’ve had a bad experience with a landlord, so now you think we’re all assholes and you delight in the thought of our hardship. Except I’m not even a typical landlord, because I own a lot of units that are all paid off, and my husband and I have other sources of income. The typical landlord only owns one or two units, and they are not young like us. They are retired, or approaching retirement, and it took them decades to save up for their investment property. They have a mortgage on it, and often one on their own home as well, and they only have enough cash reserves to last roughly as long as it would normally take to evict and replace a tenant. Add 90 or 120 days to that, and you’ll force them into bankruptcy. Because the government wanted to temporarily protect renters and couldn’t be bothered to cover this cost themselves, they passed it onto landlords who will now be homeless themselves. They’re not just losing the right to live in a home they’re renting, they’re losing everything they’ve worked for their entire lives.We can evict now, but it’s too late for many landlords. Even in my state, where I had the assholes who took advantage of the moratorium to screw me out of my rent evicted two months ago, I know three people who had to sell or abandon their property, and one who was forced into bankruptcy. That’s obviously deeply unfair to them, but it also backfired on those tenants everyone wanted to protect. We’re in a new phase of the pandemic here, with more new cases than during the shutdown, but our government has finally realized that residential rentals is a billion dollar industry, and that all sectors will hurt from the ripples if you just take our income away, so there are no more protections coming to renters. That’s not great, because not only are we now evicting everyone who didn’t pay without first obtaining our consent and signing payment plans, but what exactly do you think happens to tenants when the landlord loses the home?You think we got investors lining up around the block to take over, when they know that the governor might suddenly decide that they can’t charge rent anymore? Yeah, that’s not happening, because you’d have to be insane to get into this business right now. If we can’t find buyers we’ll just have to neglect the property until you get sick of it and leave, or we find a way to evict you so you won’t sue us for failing to provide a habitable home. Some people still want to buy our properties, but the one I’d decided to sell to if the moratorium had been extended was going to tear down the buildings and redevelop the land – not for residential rentals, that’s for sure! And if we lose the buildings to the bank, they sure as shit aren’t going to continue renting them out, because they just aren’t set up to manage properties. They can automatically evict when they take over, so everyone will be out on their asses.We could have limited the eviction protections to people who could prove that they’d no way to pay as a direct result of the pandemic, and the government could have sent their stimulus checks and augmented unemployment directly to landlords, but they didn’t, because they didn’t care that they were hurting us. Anyone with half a brain could have told them that hurting landlords would ultimately hurt tenants, but I guess this solution was just too easy. If you look at my area now, the preexisting housing shortage has gotten worse, because enough landlords were forced out of business or quit because of this bullshit to make a noticeable difference in the supply. That means that the rest of us have more people competing for our units, so we are now raising rents and tightening our restrictions on those we won’t rent to. From now on, all applicants will need to prepay three months rent, and I won’t accept anyone unless they can prove that they paid rent in full and on time during the moratorium.We’ve had people crying in our office more than once lately, either because their brand new eviction meant we wouldn’t even consider their application, or because their previous landlord told us they screwed her over during the shutdown. One woman actually screamed about how unfair it was, and that all she’d done was take advantage of the protections the government gave her. My employee asked her why she hadn’t sought her landlord’s consent, and her answer was “because I didn’t have to, because he couldn’t kick me out”. Too many people thought as she did, and now some landlords and all tenants are going to be hurting for a long time.