Stripe vs Paypal: Which is BETTER to Receive Payments Online (Online Payment Systems)
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- čas přidán 3. 01. 2021
- So you're ready to receive online payments in your business but now the question is, which is better from these popular online payment systems? Stripe vs Paypal? I have experience with both in my business, so in this video, I will share with you what I use as my payment gateway as well as which system I use to receive online payments for my coaching, courses, and payment plans.
For some context, I used to have a totally different merchant account that was connected to Infusionsoft back in the day, I thought I had the best fee structure but turned out I was wrong. So I wanted to switch to something more friendly and easy to use.
The first and most obvious choice is Paypal. I was worried about PayPal fees for receiving money, but I quickly realized that the fees were pretty much exactly the same as Stripe, another popular payment processor.
Paypal vs Stripe: Which is better? Well, there are pros and cons to each. I do however use ONE of them to process about 80% of my online payments. It allows me to accept credit cards on my website and get more sales.
As a heads up, I use Thrivecart to process all payments using BOTH payment processors, check it out here: heartbehindhustle.com/thrivecart
Here are some other videos where I talk about similar topics:
How to take payments online in your business: • How to take payments o...
ThriveCart Review for 2021: • ThriveCart Review 2020...
#makemoneyonline #paymentsystems #onlinebusiness
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What do you use in your business? Stripe or Paypal?
Stripe
New video on : Online business please
STRIPE
@@mffouzaanmdthis is the way
I am starting my business and that was the entire reason i taped on your video. I am just trying to get some more information about what i should use.
PayPal limits and holds the funds of Countless of people every day out of the blue for their so called "suspicious activity", most of the time they hold it for 180 days(6 Months) and their customer support is nearly useless so overall they're the worst payment processors especially for Small Business owners.
They've just done this to me and are holding my funds for 180 days but won't tell me what they have restricted my account
@@neardeathexperience1111 I'm sorry this happened to U as well.
Well, I guess PayPal is not the place we can trust to do business with Bcoz the moment u start making money, you became Suspicious to 'em and that leads to .......this
Agreee paypal sucks
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
@@satellitecannon9463 Elon musk sold PayPal though. Its still great when Elon musk handled it.
Your color theme from background lighting, walls right down to makeup is great, everything works. Btw great comparison of the two portals.
Thank you so much!!
Really helpful 🤩
I created a PayPal account when I was under 18 just out of curiosity. And now when i really wanted to use it, i submitted my PAN card for completing the KYC and got screwed. They limited my account cus i opened the account when i was under aged. And now after contacting for a long time they gave the privilege to use the same banking credentials on a new paypal account 😑. Still ill have to create a new email id to start with.
Stripe feels cool no headaches.
I had the same problem
Hi, I run Aussie Bow Strings, and I use Paypal, and have just set up stripe (still integrating to my website) but at 7:00 in the video, you mentioned about Paypal doing the dirty and holding money... That has happened to me. They held my money for 2 weeks AFTER the customer had already received the item (6 weeks of holding since the purchase was made, before Paypal released the payment to my account) Which meant I had to pay for shipping myself, which is something I rely on the customers payment for, wait 4 weeks for international shipping, then another 2 weeks the customer had the item, before I had received the payment... That is something that Paypal needs to change
Are you a dropshipper?
I am really astonished by the number of people in the comment section talking about their funds been held by PayPal, I thought this only happens to people from third world countries, it is really unacceptable to put people's money on hold for ridiculous reasons, I am using PayPal business for a while with no problems, however, I still receive small amounts of money, but who knows what happens when I start receiving thousand and more in the future.
I should consider using Stripe as soon as possible before a disaster occurs.
IS stripe sure for third World countries, ( when your bank account does not have a routing number) ?
They literally stole $500 of my money and wouldn't even give me a reason why. Just said I broke their code or something 👀
This is the first video of yours I watched and I love your energy!! You made very solid points on the differences between both. Yeah stripe makes more sense for coaches, etc. Thank you! 🙏
Thanks so much!
@@heartbehindhustle 🥰
@@frugaldude1111 how has your experience been so far?
Found you because FUND ARE ON HOLD in PayPal and it's super frustrating...came here to see which is better! My goodness, thanks for your honesty!
Same with me PayPal has my funds on hold for 21 days looking for a better alternative
@@Sheenasalesthriftytreasures Not fun at all! I've been using Stripe, and so far the experience has been much smoother! 🙏🏼
@@ClaraEaton how are things with stripe?
Great ! Thank you for the valuable information 🔥 .Your content is unique from others and you very helpful ☺️ Thanks
Thanks so much!
Thank You!!! Very helpful video💯💯
Soo happy to hear that! Glad you’re here
thank you for sharing this valuable information, I had a doubt about which was the best option, now I have it clear.
Thank you. This was straight to the point. 😁
Glad you found it helpful
I currently use PayPal Business and if I make anything over $1,000/month they hold the funds for a few weeks unless I mark work completed then it takes about 5-7 days to recieve it. 🤨 So frustrating to not recieve funds right away. Thank you for doing this video. Switching over to Stripe for larger payments.
Awesome!
you can't rent a business that way that's holding money for a month
Hey hun be extremely careful.
They did this to me and stole $500 of my money!
Hey it would have been nice if you talked about the fees/rates, which is one of the most important thing. Helpful video thank you
Both were the same at the time of making that video - 2.8% and 30 cents per transaction
@@heartbehindhustleat the 2:43 timestamp.
Does the first pay out on STRIPE, how long is it for them to deposit the money into my account, And is it like that each time or just the first time? Sorry I’ve many questions
Looking great!!
thank you so much for this video :) !
they (paypal) still hold funds! i would get small donations but once i sold something for just 20 dollars they said it was suspicious!! and i couldnt get my money until 6 months later. they blacklisted my house as well because i had a family member try to make a paypal and it automatically said their account wouldnt be able to receive payments. absolutely ludicrous 😠
Thanks for that! Best video until now hahahahah :)
Glad you liked it!
THanks for this.
new sub! your kind and helpful. thanks girly!:)
Thanks so much!!
I've had Paypal hold money more than once. The strange this is that they make the buyer confirm receipt of the merchandise before they'll release the funds, but what if the buyer is dishonest? I'm currently doing some work for another business, and they're using Paypal, so that's how I stumbled upon your video.
I wanna ask if i have a small business should i make business email or just use the personal email to signup for stripe?
You are a financial saver 🙂
I have PayPal and they always lock my account for no reason like why is annoying and I would like to use stripe but how can you use on twitch for streams
Thank you!!!
im trying to make a store for 3d printed items and i need a payment processor but im under 18 do you have any tips?
Hey Kamila, as a small business owner this information helped me so much. You've helped me be more confident within my business and in myself. Thank You again for your content. Please keep posting & helping others!
Aww thank you for the kind words!! So happy to hear my content has helped. Glad to see you here and hope to see you in future videos comment box too!
Looks like a bot commentary
I just started using stripe last night just curious how long after receiving the payment does it actually take to hit your bank account
Depends on what settings you put in but it’s as quick as 2-3 days
PayPal is not my pal made too much in a month now funds on hold for 21 days I asked for a increase and was denied in seconds I’m going to start using my quick books any suggestions? Thank you
We use stripe its way more professional and isn't that amateur hour looking processor. I always think of bored housewives and PayPal but I take stripe merchants more seriously
Haha love it! I haven’t though of it that way
Thanks lady, I made my mind after this video, stripe it is haha:)
Glad I could help! :)
I have had PayPal hold $100 for over 2 months. I actually hate PayPal but thank you for sharing!
Hey try to remove PayPal limitations then see if it still holds payment
I don't know if it works or not
But I have seen some people who tried after removing PayPal limitations
I'm facing the same problem now. Just earned 100$ as a new user, but they hold it. Can you tell me what happened?
And what to do, to get my money?
Such a shame that Stripe has the same problem or even more
How long took strike shows balance in it as I’m airing 3days and my money did not receive in stripe yet 😢
I have a question...
There is paid status on stripe that money has been transferred from stripe to my bank account. But as I checked my bank account it doesn't show any payments received from stripe? But on stripe the status is paid
what did happen. Did you receive it ?
As a developer paypal is a nightmare for me the api docs are so outdated
can i trust using my ssn and connecting my bank account with stripe? this is the only reason im debating it.
what about if one has a multiple benificiary LLC and a wise bank account registered on it, as we know wise doesnot offers debit cards or virtual cards on a multiple users LLC.
Thank you for. the video! I am using PayPal for shipping some goods. It's convenient to create a label im PayPal when the purchase is made. I wonder if it is possible to do that with Stripe? Do you have any insight on that? Thank you!
I’m not sure as I don’t sell physical products
Yes you can do that with Stripe. It's a lot more broad platform.
Can i use both as online banks
I use Paypal but have an online platform that only accepts stripe and I need to set it up for the purpose of selling my courses.
Both PayPal & Stripe
Well, yes... Paypal is holding my funds and that is not fun! I'm looking into Stripe but it appears there's an "eligibility criteria" after the first 7 to 14 hold of the first sale inn order to move to the 2 day payout. The person in chat is not being clear as to what this "criteria" is, so how do I know when my funds will be released? Any idea you can give me?
It'll be like with Paypal in the sense they want to make sure its nothing illegal, after that will be the usual timescales as per Stripe
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
For the first payout, Stripe will hold your money for 7-14 biz days just for security purpose. After thst u can receive the money normally.
Do I, as an Internet service seller, need to get a Visa And Mastercard approval to clear through Stripe?
I’m not sure what you mean by that
That's what I was worried about buying something on stripe and the seller having and seeing my card information. It's scary because you don't know if the person will take all of your money. I feel safer with PayPal.
They don’t see your exact CC information so they can’t use it outside of stripe
I'm still hearing that Paypal doesn't only hold someone's funds for months, but when you fineally could back your money, you still don't get it because they "use it as combination for the trouble you caused". It's messed up. I'm trying so hard to find a way to safely start commissions but god it's hard.
I just opened a Stripe account this year for my coaching business and Stripe is currently holding hostage over $19,500 of our funds because we were too successful for their automatic fraud detection algorithm. Stay away from Stripe if you can because their terms literally allow them to cancel the services agreement AT ANY TIME FOR ANY PURPOSE. After raising disputes over the phone and email with Stripe and then launching a Better Business Bureau complaint resolution process, I was able to refund half my customers within 30 days, but my account is permanently disabled without cause and over $10,000 is being held hostage for 120 days “in case of dispute or refund” despite customers confirming that all charges were fully authorized. We will never use Stripe again.
Wow! Sorry you had that experience. What did you move to?
Hey man!! I am about to start an online business, what do you recommend me? PayPal? Or is there any other?
I’m so sorry that happened! Could I pls ask you which one are you using now?
This just happened to another content course creator who receive their payments and Stripe did that same thing.
Does stripe require a business bank account to use their service?
No it doesnt at all I don't have a business bank account and I have got an active (though is in test mode right now), but could make it active.
Hell no thumbnail got me rolling yo 😂
I think they are the same Stripe also holds your funds from what I heard.
PayPal only works in the favour or the buyer not the seller. The buyer can file a chargeback everytime.
I’ve won a dispute before with PayPal as a seller.
@@heartbehindhustle when they dispute it as a unauthorized payment via their bank ?
Nice video Heart Behind Hustle TV! I just started an online store. Stripe asked for my phone number, does the customers see my phone number in the receipt or something? Thank you!
I highly doubt it will to a customer (though never used it yet) unless of course you've disclosed that to them, rather will be for just contact reasons for Stripe or 2 Factor Authentication purposes (SMS messaging to login).
@@jsmithmultimediatech Thank you!
Paypal is definitely still holding funds. Someone in my group mentioned Paypal holding their $2000 for 20 days! Just wild.
Yep I’m on hold for 21 days because they said I made too much I asked for a increase and it was denied in seconds . I’m looking to find something better then PayPal
Is stripe available in Canada? Great video !
Yes I believe so
It sure is! Just had a $100k month using it 💪🏼💪🏼
@@KoryMacKinnon you didnt have this problem of stripe holdijg your funds?
@@123telamon stripe holds for 3-4 business days? Not as fast as some providers but not terrible. In the beginning it was 5-6 business days but after a month or so of use they loosen up!
excellent delivery
Yeah that's true..
I used to have PayPal but it permanently locked my account for 'suspicious activity.' I made a single sale of $15. It does let you take your money back, but it will permanently prevent you from sending or receiving money. It really sucks because everyone uses PayPal.
same
Its May 2023 now and I’m still waiting an incoming $75 to my PayPal since Sep 2021…I wish I watched this sooner :’
I have Stripe
YES PAYPAL IS STILL DOING IT HOLDING FUNDS
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
Stripe is currently holding my funds hostage, they actually asked me for pictures of what I do to earn money while holding a paper with todays date on it. Been going on for about 2 weeks now… wtf?!?!?
What industry are you in?
@@heartbehindhustle Aviation
I've heard the same thing about paypal.. holding peoples money for over 6 months..
Paypal & stripe booths are 19/20 deference but your 100% beautiful 😍
They still do it my funds have been hold up for 6 months of $2,698 dollars
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
Both
Paypal is notorious for that!!! I have found that if the customer emails them and confirm that they indeed authorize the charges they will send the funds.
Paypal currently, heard about stripe
PayPal is holding my funds for 180 days.
PayPal still holds money. Happening to me now.
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
Me too
Just had my funds held over a big sale over PayPal. So mad right now.
The video gets very slow, I think PayPal doesn't like your video, thx for the advice
Anyone else get a PayPal ad while watching this? 😂
😂😂😂
Is it safe? Stripe
Totally safe
PayPal does put holds on any amount
Pay pal is also very willing to offer finanacial transactions on your commerce shop to local goverments.
Anyone have experience with using Paypal WITHOUT proof of business? Its so hard to be a nomad
I would use Stripe over PayPal. At least Stripe will support your rights and not find you $2500 just because! 🤣
Damn!!!❤❤❤
Paypal has held my funds for 12 hours.
Stripe said 2 days....estimated delivery 6 days later. Bye.
I love you. I love how your brain operates. I love your communication skillz. I love that you prefer Stripe vs PayPal. I agree wholeheartedly. I have international PayPal experiences that will prevent me from EVER using their services AGAIN. I’m so glad I watched this video till the end. Maybe I had too much to drink before typing this message, but as they say… alcohol keeps you honest. No disrespect to your significant other… the lucky bastard. Cheers to you both 🥂 Let me go sleep this intoxication off now 🌙
Haha this comment was awesome!! 😂Cheers 🥂 thank you for watching!
@@heartbehindhustle My pleasure, lovely. Keep blessing us with great content.
im freaking out i think this website was a scam and i put all my bank info on this website and and stuff
Which website?
PEA-pal ?
No PayPal
I'm moving to stripe, because in the long run PayPal will start off helping you, but somewhere Along the line... THEY WILL SCREW YOU! They like to punish people for succeeding, or not being stupid.
STRIPE HAS MANY ISSUES
Examples?
I currently use PayPal
Awesome! How do you like it?
@@heartbehindhustle It's been good so far, but I need a better payment system for my higher ticket programs and services. Stripe seems like a viable solution. Thanks for the content!
Paypal still holds funds.
pass
Why cant it just be 5mins 😊😳
Because that’s not my style
I recently got my Paypal account permanently closed without a reason. This is so frustrating, Stripe could be good but it isn't used by many people.
Pretty much everyone in the online business space uses stripe
The thing is you wouldn't have control much if you get identified as a high-risk merchant what you can do is set up a merchant account with MSP or ISO which are registered and regulated. czcams.com/users/Agapayusa
I've definitely heard about that! lol not good...
Remember paypal wanting a $2500 fine for misinformation? Also paypal supports abortion. I hate using companies that and against my values. I'm looking for something I can use to receive payments that doesn't go against my values.
Is Stripe different?
@@Sweven521 I don't know but a good guess would be no. I hate giving money to people against my values.
@@johngagne33 If they were serious about missinformation - there would be no marketing in our usa 🙂
paypal is bad
This video could've been literally 3 minutes long. Or at least you could've changed the title to "Strive vs Paypal: Plus a f**kton of my own personal bs", just so that I'd know what to expect, being a potential business owner looking for some real information, and less personal anecdotes.
You do realize this is my channel right? It’s branded under my name… of course I’m going to share my personal opinion ON MY OWN CHANNEL. 🤦🏻♀️
@creators remorse. stupid!!!!!!!
I really thought you're a CGI...
Lol why did you think that?
@@heartbehindhustle Everything in the video is flawless... especially the foreground.
I hate paypal.
Too much usless side chatter.
Rambling…had to stop watching
I’d love to see one of your videos so I can learn how to do it better. Send it over!
3 minutes wasted on her life story!!
Aren’t you a negative Nancy
Hi Sam, welcome to 2021. There's a white-ish bar in every youtube video, when you hover with your cursor on it mate. The one that gets more and more red as times passes, have a look! It's also in this video. You can use it to skip through videos, it's super useful if you are in a hurry and need no backstory but just pure facts for example. I hope this helps you, Sam.
@@heartbehindhustle lol - Love fact that you are so unbothered by trolls.
I hate paypal as a customer and a business owner! their practices are criminal and i really hope someone sues them. people just starting out are the ones who need that money the most. more often than not people who start a business will spend all they have to get out the products and then paypal holding the money for months is soooo detrimental. For example one of my businesses sales POD canvas wall art and lets say i sell them at $60 a piece but its costs me roughly $30 to send it to them because not only am i paying for the service to make it and the materials i also cover shipping costs until the clients payment goes through which in some cases can be a really really long time. now imagine your shop absolutely explodes which sounds amazing but actually it isnt unless you have tons of funds already. lets say you get 500 sales thats $15,000 you have to pay up front and then wait until they pay you back $30,000 and thats only 500 sales. imagine you get lucky and go viral on tik tok or something and make thousands of sales and now you're trying to find a way to cover all of those expenses or even worse having the stop the sales because you can't cover them. paypal is a safe haven for scammers and they protect them over business owners and thats why i will never use them again.