Stripe Alternatives: What Should Your Business Consider?

If you’re researching Stripe alternatives, the first thing to consider is how much you are actually paying to process each transaction. Stripe is a popular payment provider for businesses selling online, offering card payments and integrations for websites, apps and ecommerce platforms.

However, as a business grows, payment fees, support, integration options and international payments can all have a bigger impact on operating costs.

So, is Stripe still the right payment provider for your business?

What Should You Look for in a Stripe Alternative?

Before switching payment providers, consider more than just the headline transaction rate.

1. Payment Costs

Look at your actual processing costs and calculate what you’re paying each month and year.

Even a small reduction can become significant when you’re processing a high volume of transactions.

2. Ecommerce Integration

Make sure the provider works with your existing platform, whether you’re using WooCommerce, Magento or another ecommerce system.

For example, Breathe Payments provides online payment gateway integrations for platforms including WooCommerce and Magento. Breathe Payments online payment solutions

3. Payment Methods

Customers expect convenient payment options. Consider whether your payment provider supports cards, Apple Pay, Google Pay and other payment methods relevant to your customers.

4. Support

Consider what type of support is available if you experience a payment or integration problem. Phone, online and other support options may be important depending on your business.

How Much Does Stripe Cost in the UK?

Stripe uses a pay-as-you-go pricing structure for its standard payments service. Its current UK pricing includes 1.5% + 20p for standard UK cards, with different rates for premium and international cards. Currency conversion can also add an additional 2%.

Stripe also offers customised pricing for businesses with larger payment volumes.

For the latest pricing, businesses should check Stripe’s UK pricing page before making a comparison.

Why Does the Fixed Fee Matter?

When comparing Stripe alternatives, it’s important to look at both the percentage and fixed transaction fee.

For example, on a £10 transaction at 1.5% + 20p:

15p + 20p = 35p

That’s an effective cost of 3.5%.

On a £100 transaction:

£1.50 + 20p = £1.70

That’s an effective cost of 1.7%.

This shows why businesses should compare the total cost per transaction, rather than looking only at the percentage rate.

What Does a £30 Transaction Really Cost?

A £30 average transaction value (ATV) is a useful example for many online businesses.

Using Stripe’s standard UK rate of 1.5% + 20p:

• 1.5% of £30 = 45p
• Fixed transaction fee = 20p
• Total payment fee = 65p

That gives an effective payment cost of approximately 2.17% on a £30 transaction.

For a business processing 1,000 transactions at £30 each, that would represent £30,000 in sales and £650 in payment fees at this rate.

This is why comparing Stripe alternatives using your own average transaction value can provide a more realistic picture of potential costs.

What Other Costs Should You Consider?

Transaction fees are only one part of the overall cost.

When comparing Stripe alternatives, look at:

• Percentage transaction fees
• Fixed transaction fees
• Monthly gateway fees
• International card fees
• Currency conversion charges
• Chargeback or dispute fees
• Payment method charges
• Integration costs
• Hardware costs

A payment provider with a lower headline percentage isn’t automatically cheaper once all of these costs are taken into account.

International Payments

If you sell internationally, check international card and currency conversion fees carefully.

Stripe currently lists separate pricing for EEA and other international cards, with an additional 2% where currency conversion is required.

Some businesses may also choose to have euro or US dollar accounts so that payments can be settled in the currency in which they were received.

If transactions are converted back into GBP, however, additional currency conversion costs may apply.

What Are the Alternatives to Stripe?

There are several Stripe alternatives available to UK businesses.

The most suitable option will depend on factors such as transaction volume, average transaction value, card mix, international sales and the type of payment technology required.

Options can include:

• Independent payment gateways
• Merchant service providers
• Ecommerce payment providers
• Traditional acquiring banks
• Providers offering both online and face-to-face payments

For businesses processing larger volumes, it can also be worth requesting a tailored quotation rather than relying solely on publicly advertised rates.

Breathe Payments as a Stripe Alternative

Breathe Payments is one option businesses can consider when comparing Stripe alternatives.

Breathe currently publishes online payment gateway pricing starting from 0.9% + 12p per transaction on its PAYG option, with a monthly option of 0.6% for debit cards or 0.8% for credit cards, plus 10p per transaction.

Breathe also supports online payments through website integrations, payment links, hosted payment pages and Apple Pay and Google Pay.

For businesses that also take payments in person, Breathe provides card machines and EPOS solutions, allowing online and face-to-face payments to be considered together. Explore Breathe Payments

Is Stripe Still the Right Choice?

For many businesses, Stripe remains a suitable payment provider. Its technology, integrations and international capabilities make it useful for a wide range of online businesses.

However, as transaction volumes increase, it can be worthwhile reviewing your payment costs and comparing them with Stripe alternatives.

The right comparison isn’t simply:

“Which provider has the lowest percentage?”

Instead, consider:

Percentage rate + fixed transaction fee + monthly fees + international charges + other costs.

Final Thoughts

There is no single payment provider that will suit every business.

When researching Stripe alternatives, calculate your actual annual payment costs and compare them with the pricing, integrations, payment methods and support available from other providers.

A different pricing structure could potentially save a business hundreds or thousands of pounds over a year, depending on transaction volume and average transaction value.

Before switching payment providers, look at what you’re actually paying and compare the complete cost of your payment setup.