Stripe vs. Adyen : Which is Better for Merchants?

Trying to decide between Stripe and Adyen? You’re not alone in trying to figure out which payment provider is better.

While Stripe and Adyen are both globally recognized brands, each has pros and cons that must be considered before making a purchase decision. Their functionality, international reach, and support of different payment methods vary significantly. Read on to learn more about Stripe, Adyen, and how to choose the best payment system for your business goals. 

Stripe vs. Adyen : Which is Better for Merchants?

What is Stripe?

Stripe is a San Francisco-based tech company and payment platform that has built economic infrastructure to support making and accepting payments. Stripe processes card payments, ACH payments, and some digital wallets and local payment methods like ApplePay and Klarna.

Rather than requiring you to set up merchant accounts or payment gateways, Stripe already offers these functionalities embedded in their payment processing. This means Stripe will directly accept payments for merchants and then transfer these into their accounts. Pricing is transparent, and done pay-as-you-go, with a fee taken from every payment transaction.

Stripe: Key Product Features

Stripe is known for its full-stack payment processing, easy API integration and clear pricing.

• Full-stack payments – Stripe handles everything, so there’s no need for a merchant account or gateway.  This includes storing cards, subscriptions, and direct payouts to your bank account. 
• Easy to use API – There are countless examples and requests to copy into your terminal to get started right away. They provide wrappers in Ruby, Python, PHP and more so that it’s easy for your technical team to get set up quickly.
• Clear Pricing – Stripe has a simple pricing structure: 2.9% + 30 cents per successful charge. 

Stripe: Pros and Cons 

PROS

• Works with businesses of all sizes, especially smaller businesses
• Developer-first product with easy integration
• Three types of 24/7 support and a user forum.
• High speed and high-security payment processing

CONS

• Only available for businesses based in 44 countries in Europe, Asia and North America, merchants located in other countries will need another solution
• Stripe has limited coverage for Latin American Merchants
• Can be difficult and confusing to set up and maintain for non-technical users
• Does not accept high-risk merchants 
• Does not accept PayPal 

What is Adyen?

Adyen is a Dutch Payments company that provides online payment processing and POS systems for merchants and serves as a payment gateway and payment service provider. 

Its integration lets you accept multiple payment methods and a variety of different currencies from around the world. They allow businesses to accept credit cards, bank transfers and a range of other digital payment methods. 

Adyen: Key Product Features

Adyen accepts many different payment methods, customer support, and a range of merchant features.

• Accepts many alternative payment methods – Adyen was created to help global merchants connect directly with card services and other payment types. 
• Standard merchant features – They provide various merchant features including risk management, one-click recurring payments, analytics, and revenue protection. In terms of integration, Adyen has hosted payment pages and a direct API.
• Offers many payment methods – Adyen offers card processing, POS Systems, eWallets, local payment methods, and alternative payment method (APM) support for businesses. 
• Merchant support – Adyen provides support via email with dedicated account managers for each account. They also offer training in-person, live online, and developer documentation.

Adyen: Pros and Cons 

PROS

• Supports different payment methods
• Merchant support

CONS

• Only available for businesses based in Europe, North America, Australia and Singapore. Merchants located in other countries will need another solution
• Limited invoicing capabilities
• Not built for small businesses. No self-service onboarding – must talk with a sales representative.
• Merchants may be able to reduce processing fees, especially in Europe, with other solutions

Stripe vs. Adyen: Which is better for your business?

Stripe and Adyen have noticeably different international reach, functionality, and support of different payment methods. By carefully reviewing the pros and cons of each and understanding what other payment providers are available, you can confidently decide which is the best online payment system for you.

However, if you stick to just comparing Adyen and Stripe you may be missing the bigger picture. Like most other providers in the market, Adyen and Stripe do a great job of supporting cards. What can really differentiate providers is the depth and breadth of payment methods across the globe. In fact, as many as 16% of shoppers will abandon their cart when their preferred payment option isn’t available. [FuturePay].

If your company is looking for a platform that supports a significantly wider range of merchant locations all across the world, with local payment options and currencies, Rapyd can provide the comprehensive solution you are seeking for all your local and international payment needs.

Sources

FuturePay. “The Big Ticket: What’s Stopping Shoppers? A study on consumer online shopping habits and payment preferences.” 2017. https://futurepay.com/wp-content/uploads/2017/01/FuturePay-The-Big-Ticket-Report-2017-1.pdf 

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