crabroom-logo
Blog
stripe
crabroom-logo

Invalid Date

0 min read

Stripe vs QuickBooks: Evaluating the Best Fit for Your Business


0

0


When selecting a payment processing system, it's crucial for businesses to closely examine the pricing structures and fees associated with each option. Stripe and QuickBooks Payments are two leading contenders, each offering unique features and benefits. This article provides an in-depth comparison of the pricing and fees for both Stripe and QuickBooks Payments, along with an analysis of the different payment methods they support. This comprehensive evaluation will help businesses make informed decisions that align with their financial and operational goals.

Stripe vs QuickBooks

Stripe vs QuickBooks: Overview

Stripe is renowned for its developer-friendly API and extensive support for various payment methods, including credit cards, debit cards, digital wallets, and international payments. Its pricing model is transparent, with no hidden costs.
QuickBooks Payments integrates seamlessly with QuickBooks accounting software and supports credit card payments, bank transfers, and ACH payments. It offers both pay-as-you-go and monthly rate plans.
At Crabroom, we have extensive experience working with both QuickBooks and Stripe, handling integrations and resolving issues efficiently. Our team of experts is well-versed in the intricacies of both platforms, ensuring seamless integration and optimal performance for your business.

Stripe vs QuickBooks: Pricing Structure

Stripe pricing structure

Stripe operates on a pay-as-you-go pricing model, meaning businesses only pay for the transactions they process. This model includes a flat fee per transaction, with no setup or monthly fees. Here's a breakdown of Stripe's pricing:
FeatureStripe
Domestic Transactions2.9% + $0.30 per transaction
International TransactionsAdditional 1% fee
Currency ConversionAdditional 1% fee
ACH Payments0.8% per transaction, capped at $5
Dispute Fees$15 per dispute (refunded if resolved in your favor)
Radar for Fraud TeamsStarting at $0.02 per screened transaction
Connect for Platforms and MarketplacesCustom pricing based on business needs
Sigma for ReportingCustom pricing based on transaction volume

QuickBooks Payments Pricing Structure

QuickBooks Payments offers several payment methods, primarily focusing on businesses within the United States. It provides different pricing plans, including pay-as-you-go and monthly rate plans.
FeatureQuickBooks Payments
Swiped Transactions (Pay-as-You-Go)2.4% + $0.25 per transaction
Invoiced Transactions (Pay-as-You-Go)2.9% + $0.25 per transaction
Keyed Transactions (Pay-as-You-Go)3.4% + $0.25 per transaction
Swiped Transactions (Monthly Plan)1.6% + $0.25 per transaction
Invoiced Transactions (Monthly Plan)2.8% + $0.25 per transaction
Keyed Transactions (Monthly Plan)3.3% + $0.25 per transaction
Monthly Fee$20
ACH Payments1% per transaction, capped at $10
Dispute Fees$25 per dispute

Stripe vs QuickBooks: Payment Methods Supported

Stripe

Stripe supports a wide range of payment methods, making it a versatile choice for businesses operating globally. Payment methods supported by Stripe include:
Payment MethodStripe
Credit and Debit CardsVisa, MasterCard, American Express, Discover, JCB, Diners Club
Digital WalletsApple Pay, Google Pay, Microsoft Pay, Samsung Pay
Bank TransfersACH, SEPA Direct Debit, wire transfers
International PaymentsSupports over 135 currencies
Buy Now, Pay LaterKlarna, Afterpay/Clearpay
Other Payment MethodsAlipay, WeChat Pay, Giropay, iDEAL, Sofort, Bancontact, EPS, P24

QuickBooks Payments

QuickBooks Payments supports several payment methods, primarily for businesses operating within the United States. Payment methods supported by QuickBooks Payments include:
Payment MethodQuickBooks Payments
Credit and Debit CardsVisa, MasterCard, American Express, Discover
Bank TransfersACH payments, bank transfers
InvoicingAllows customers to pay directly from invoices

Stripe vs QuickBooks: Detailed Comparison

Transaction Fees

Transaction fees are a significant consideration for businesses when choosing a payment processor. Stripe's transaction fees are straightforward, with a flat rate of 2.9% + $0.30 for domestic transactions. This simplicity appeals to businesses seeking predictable costs.
QuickBooks Payments offers lower transaction fees for swiped transactions under its monthly rate plan (1.6% + $0.25) compared to the pay-as-you-go plan. However, the monthly fee of $20 must be considered. For businesses with high transaction volumes, the monthly rate plan can be more cost-effective.
If you need help with QuickBooks or Stripe integrations, or if you're facing any issues with these platforms, our team at Crabroom is here to assist you. We offer consultations to help you navigate the complexities of these systems and make the most out of their features.

International Payments

Stripe has a clear advantage in handling international payments, supporting over 135 currencies and charging an additional 1% fee for international transactions. While QuickBooks Payments can handle international payments, it primarily focuses on domestic transactions and does not offer the same level of support for multiple currencies.

ACH Payments

Both Stripe and QuickBooks Payments support ACH payments, but their pricing structures differ. Stripe charges 0.8% per transaction, capped at $5, making it an affordable option for businesses processing large transactions. QuickBooks Payments charges 1% per transaction, capped at $10, which can be more expensive for higher-value transactions.

Dispute Fees

Dispute fees are another critical consideration. Stripe charges $15 per dispute, which is refunded if the dispute is resolved in favor of the business. QuickBooks Payments charges $25 per dispute, making it more expensive in the event of chargebacks.

Stripe vs QuickBooks: Comprehensive Breakdown of Key Features

FeatureStripeQuickBooks Payments
Transaction Fees (Domestic)2.9% + $0.30 per transaction2.4% + $0.25 (swiped), 2.9% + $0.25 (invoiced), 3.4% + $0.25 (keyed) per transaction
International FeesAdditional 1% feePrimarily focused on domestic transactions
ACH Payments0.8% per transaction, capped at $51% per transaction, capped at $10
Dispute Fees$15 per dispute (refunded if resolved in your favor)$25 per dispute
Reporting and AnalyticsSigma (customizable reporting), Radar (fraud detection)Simplified reporting, integrated with QuickBooks accounting software
SecurityPCI DSS compliance, encryption, tokenization, Radar (fraud prevention)PCI compliance, integrated security features with QuickBooks ecosystem
Customer SupportChat, email, extensive documentationPhone, chat assistance, dedicated customer support
For expert help with QuickBooks and Stripe integrations, book a consultation with us. Our team, experienced in QuickBooks accounts, QuickBooks and Stripe integration, and QuickBooks products, is ready to assist you in optimizing these powerful tools and resolving any challenges you may face.
Chat IconGet a free Consultation from our expert right now!Get Free Consultation

Frequently asked questions

1. What are the main differences between Stripe and QuickBooks Payments?

2. Which platform has lower transaction fees, Stripe or QuickBooks Payments?

3. Can I use Stripe and QuickBooks Payments for international transactions?

4. How do Stripe and QuickBooks Payments handle ACH payments?

5. Which platform provides better customer support, Stripe or QuickBooks Payments?

Comments

No comments yet

Comment Anonymous

Related Posts