10 Best Stripe Alternatives in 2024 for Entrepreneurs and Small Businesses

Stripe has long been a favorite payment processing platform, offering businesses of all sizes a way to easily receive and manage payments online. Over time, it has evolved into a robust payment gateway with features like auto card updates and smart retries, helping businesses streamline their operations. However, while Stripe offers many benefits, it isn’t a perfect fit for everyone, especially for entrepreneurs and small business owners with unique needs.

No single payment processor can meet the needs of every business. Stripe’s complexity and limitations can hinder growth, and that's why exploring Stripe alternatives is essential.

In this article, we'll dive into the 10 best Stripe alternatives available in 2024, ideal for entrepreneurs and small businesses looking for more tailored solutions.

Why You Should Consider Alternatives to Stripe

While Stripe is popular for its powerful payment features, it’s not without its challenges, especially for small businesses looking for simplicity and scalability. Let’s explore why you might want to consider switching to another provider.

1. Stripe’s Ecosystem Can Be Overly Complex

Stripe is just one layer in your payment infrastructure. For complete payment processing, you’ll often need to integrate other tools for taxes, invoicing, subscriptions, and reporting. As your business grows, managing these integrations can become time-consuming and costly. Additionally, Stripe’s exclusion of popular payment methods like PayPal can limit options for your customers.

2. Potential Bottlenecks for Growth

As your business scales, the need for streamlined payment processes becomes more critical. Stripe’s limitations in handling growth opportunities can slow down or even block revenue streams, especially when multiple integrations and tools are involved. This can be a major hindrance for small businesses that need agility and fast responses to new opportunities.

3. Tax Management Complexity

Stripe isn’t always well-suited for handling complex tax regulations, especially for businesses selling internationally. The burden of managing sales tax compliance can be overwhelming, especially for small business owners who need to focus on scaling their operations. It’s crucial to have a payment processor that can simplify tax management and help you stay compliant across borders.

Top 10 Stripe Alternatives in 2024

Now that we’ve discussed some of the challenges small businesses might face with Stripe, let’s explore 10 Stripe alternatives that can offer more flexibility, ease of use, and business-specific features.

Wise

Wise (formerly Transferwise) is a standout option for businesses handling international payments. With affordable exchange rates and multi-currency support, Wise allows entrepreneurs to pay invoices and receive payments from clients around the world without the high fees typically associated with foreign transactions. For businesses expanding internationally, Wise is a cost-effective solution.

Wise vs Stripe

• Transaction Fees: Wise offers very low, transparent fees for international payments. While it doesn’t charge for receiving payments, transferring funds internationally involves a fee based on the currency exchange rate and a small percentage (typically around 0.5-1%).
• Key Differences: Wise specializes in low-cost international transfers, making it a far more affordable option than Stripe for businesses handling a lot of cross-border transactions. Stripe charges an additional 1% fee for international transactions, which can add up over time for businesses operating globally.

Payoneer

Payoneer is a global payment platform that enables businesses, freelancers, and entrepreneurs to send and receive payments internationally with ease. Unlike Stripe, which primarily focuses on local and online payments, Payoneer specializes in cross-border transactions, making it an ideal choice for small businesses and individuals dealing with international clients.

Payoneer vs Stripe

• Transaction Fees: Payoneer charges 3% for credit card transactions and 1% for eCheck payments. Transfers between Payoneer accounts are free, and withdrawals to local bank accounts cost a flat $1.50. For currency conversions, Payoneer adds a fee of up to 2% above the mid-market rate.
• Key Differences: Payoneer offers a multi-currency account, allowing users to receive and hold funds in various currencies, which is particularly beneficial for businesses that regularly conduct international transactions. In contrast to Stripe, which focuses more on domestic and online commerce, Payoneer provides more robust solutions for global business operations. Payoneer also integrates with popular freelancer platforms like Upwork, Fiverr, and Amazon, making it a popular choice for freelancers and eCommerce businesses looking for an efficient, cost-effective way to handle payments worldwide.

PayPal

PayPal remains the king in the world of payment processing, especially for small businesses. It offers a wide range of features, including easy online invoicing, mobile payment processing, and multiple payment methods. PayPal's global reach, combined with its simplicity, makes it an ideal solution for businesses looking for a versatile platform.]

PayPal vs Stripe

• Transaction Fees: PayPal’s fee structure is similar to Stripe’s, with a rate of 2.9% + 30¢ per domestic transaction. However, for international payments, PayPal charges 4.4% + a fixed fee based on the currency — that is more than Stripe's.
• Key Differences: Unlike Stripe, PayPal supports both personal and business payments. It also integrates with PayPal’s broader ecosystem, allowing customers to pay via PayPal balance, bank accounts, or credit cards. For small businesses, PayPal’s global reach and user-friendly invoicing tools are big advantages. However, its fees for currency conversion and international payments are higher than Stripe's.

Also see: Best PayPal Alternatives for Businesses and The Pros and Cons of PayPal For Business

Square

Square is an excellent Stripe alternative for entrepreneurs and small businesses that need a point-of-sale (POS) solution. Square allows businesses to accept payments through various methods, track sales, and manage inventory—all within a single platform. Its easy-to-use interface and real-time sales tracking make it ideal for brick-and-mortar shops or service-based businesses.

Square vs Stripe

• Transaction Fees: Square charges 2.6% + 10¢ per swipe or tap transaction for in-person payments, and 2.9% + 30¢ for online payments—similar to Stripe’s fees for online processing. International transactions, however, aren't as easily managed with Square compared to Stripe.
• Key Differences: Square is especially appealing for brick-and-mortar businesses, as it includes free POS hardware with no monthly fees. Unlike Stripe, Square offers free point-of-sale systems and live sales tracking, making it an excellent choice for entrepreneurs running retail businesses or service-based operations.

Stax

Stax offers small businesses a simple, flat-rate pricing structure with no hidden fees, making it a cost-effective solution for companies processing high transaction volumes. Its feature-rich dashboard integrates seamlessly with accounting software like QuickBooks, allowing businesses to automate and track transactions more efficiently.

Stax vs Stripe

• Transaction Fees: Stax charges a flat monthly fee (starting at around $99) rather than a percentage of each transaction. This can result in substantial savings for businesses processing more than $5,000 per month. You’ll still pay interchange fees but avoid high markups.
• Key Differences: For businesses with high transaction volumes, Stax is a much more cost-effective alternative. Stripe’s pricing is ideal for small or medium-sized businesses processing lower volumes, but for larger businesses, Stax’s predictable flat-rate pricing offers more savings over time.

WePay

WePay, backed by JP Morgan, is designed for platform-based businesses that need a simple way to manage payments for their users. It offers fast, flexible payment solutions with minimal setup, making it ideal for service providers and marketplaces that need a tailored solution to manage customer transactions.

WePay vs Stripe

• Transaction Fees: WePay charges 2.9% + 25¢ per transaction, which is comparable to Stripe. For ACH (bank) payments, the fee drops to 1%.
• Key Differences: WePay focuses on platform-based businesses, especially those facilitating payments between users (such as marketplaces). It provides seamless integration with Chase Merchant Services, offering faster payouts and enhanced fraud protection. While Stripe offers strong developer tools, WePay’s platform-first approach is more tailored to platforms and marketplaces.

Ayden

Ayden is a robust alternative for businesses that need a global payment solution. With support for multi-channel payments, fraud prevention, and strong reporting capabilities, Ayden is suited for scaling businesses that require advanced features to optimize payment processing. Its competitive pricing model and customizability make it a popular choice for businesses with high transaction volumes.

Ayden vs Stripe

• Transaction Fees: Ayden uses interchange-plus pricing, where the transaction fee is based on the exact cost set by card networks. For European cards, Ayden charges €0.10 + 0.6%, which is lower than Stripe for local transactions. For international transactions, fees can vary widely but tend to be lower than Stripe's.
• Key Differences: Ayden is better suited for large enterprises and businesses processing a high volume of international transactions. While Stripe offers more flexibility for smaller businesses, Ayden’s focus on omnichannel payments and risk management makes it a strong choice for companies needing robust global transaction support.

Authorize.Net

Ideal for small businesses that want customizable payment solutions, Visa's Authorize.Net allows you to accept payments from a variety of methods, including credit cards, e-checks, and digital wallets. It integrates easily with third-party merchant accounts, offering flexibility for businesses that want more control over their payment processing.

Authorize.net vs Stripe

• Transaction Fees: Authorize.Net charges 2.9% + 30¢ per transaction, in line with Stripe’s pricing. However, it also charges a monthly gateway fee of $25, making it slightly more expensive for smaller businesses that process fewer transactions.
• Key Differences: Authorize.Net offers more flexibility with 13 configurable fraud filters, which is not a feature provided by Stripe. For businesses that need more advanced fraud prevention tools and flexible payment options (including PayPal, Apple Pay, and e-checks), Authorize.Net is a robust alternative.

2Checkout (Verifone)

2Checkout offers a straightforward, global-friendly solution for businesses looking to scale internationally. With support for over 200 countries, 45 payment methods, and 30 languages, it’s an ideal choice for small businesses with global ambitions. Its simple setup and customizable features help entrepreneurs manage payments without needing extensive coding or technical expertise.

2Checkout vs Stripe

• Transaction Fees: 2Checkout has a tiered pricing structure, starting at 3.5% + 35¢ per transaction for their basic plan, which is slightly higher than Stripe. However, it includes more features tailored for international sales without additional setup fees.
• Key Differences: For global businesses, 2Checkout’s all-in-one platform simplifies international transactions. It supports over 45 payment methods and 100 display currencies, making it a better choice for businesses aiming for a global audience. Stripe is also global, but 2Checkout focuses more on small businesses looking for simplicity in international payments.

ChargeBee

ChargeBee is perfect for subscription-based businesses or companies with complex billing models. Its flexible platform allows for one-time payments, recurring billing, and pay-per-use setups, making it ideal for startups and growing businesses. Its automation features help small businesses manage their revenue streams without manual intervention.

ChargeBee vs Stripe

• Transaction Fees: ChargeBee doesn’t handle transaction processing directly, but it integrates with payment gateways like Stripe and Braintree. Its pricing starts at $249/month, which covers billing, invoicing, and subscription management features.
• Key Differences: ChargeBee is ideal for subscription-based businesses, offering advanced billing models and workflow automation. While Stripe offers subscription tools, ChargeBee is more tailored to companies needing extensive subscription lifecycle management. For small businesses growing quickly in the subscription space, ChargeBee’s specialized features may justify the higher monthly cost.

Conclusion

While Stripe remains a popular choice for many businesses, it’s not the only option available—nor is it always the best fit for small businesses and entrepreneurs. Depending on your business model, transaction volume, and growth plans, one of these Stripe alternatives could offer the flexibility, simplicity, or cost savings you need to scale more efficiently

I hope this article helps you find the right payment solution for your business, so you can focus on driving revenue and growing faster with the tools that fit your unique needs.