Stripe and Authorize.net are two prominent payment solutions you can utilize when accepting credit card payments. These two platforms help you process cards online. They provide secure platforms to help you stay online and to keep things more functional and sensible.
Both of these choices are useful in many ways, but they are still different in some forms. Let’s look at how these two compare to figure out which choice is the best. These two are different over how they operate, what they charge, and how you can manage your transactions. But both can help you accept credit card payments and manage your data well, giving you the power your website deserves.
General Work Support
Stripe and Authorize.net use distinct platforms for work. Stripe is mainly for developers, as it supports APIs that can help collect payments and other bits of data as necessary. Authorize.net takes care of most of the work for you instead.
Stripe will use an API to review the payment info you collect. It will provide a token when the payment is verified to let you know the payment will clear soon. Your token will enter a private server through a web app to process the transaction. The Stripe server will respond to the token you send to the outside server, eventually giving you a response.
Authorize.net uses a simplified approach to handling payments. Authorize.net will collect credit card info and route the data through a merchant bank, a credit card network, and other necessary parties. The process works with a traditional bank network and does not require any additional APIs or tokens, making it easier for people to manage. The network will secure all transaction info and will settle your payment in about two to four days on average.
In summary, Stripe offers a fully customizable approach that can work with whatever APIs you wish to use. But it may be too complex for some businesses. Authorize.net is easier to manage, as it provides a streamlined approach and does not require any extra APIs on your end. It provides a faster and more reliable approach to processing card payments.
Platform Support
Next, let’s look at how these payment gateways can support different platforms. Both Authorize.net and Stripe will support a web-based platform and mobile iOS and Android-based setups. Neither can support the Windows Mobile platform, although that could change someday as the operating system becomes more prominent and widely available.
Security Features
Authorize.net offers more security features than Stripe provides. Authorize.net offers an advanced fraud detection program that uses multiple filters to identify and block potentially fraudulent transactions. The system helps you keep track of what transactions are going through your business and how you can prevent questionable things from going forward.
Stripe also provides help for managing custom filters for how you’ll receive data and flag questionable transactions. The system is not as comprehensive as what you would get from Authorize.net.
Integration Support
Stripe supports more integrations than Authorize.net, with Stripe focusing on API development. The Relay API can handle mobile in-app purchases while Sigma creates customized reports, for example. Stripe also works with the Atlas platform that helps the business incorporate in the United States and to receive the legal and tax support it needs for operation. Some of the integrations that Stripe offers aren’t as commonly used as what Authorize.net provides, but you’ll still have the help you need when you demand it for your work.
Authorize.net still provides support for various platforms and systems, including the QuickBooks accounting system. Authorize.net will sync your data with your QuickBooks account, providing you full details on what you’re managing.
One advantage Authorize.net has on the integration front is how it can work with your existing payment infrastructure. You can start a new account with Authorize.net in moments. Stripe requires you to use its dedicated integrations, although they will still work on your platform.
You can also test transactions with Authorize.net through its Sandbox feature. You can test a transaction before putting your network online, helping you check on how well you’re processing your content when working. You can learn more about how your business is handling transactions and payments when you look at your Authorize.net results.
How Long Does It Take To Get Your Funds?
It takes about one to seven business days for you to get your funds through Authorize.net transactions. Meanwhile, it takes two to seven business days to do the same with Stripe.
Authorize.net is more likely to process funds in less time, as the system goes through routine bank networks and does not rely on APIs that may not be reliable or programmed well. Stripe can still process funds fast, but that depends on the transaction volume the Stripe network receives and how well your API infrastructure works.
What About Pricing?
Stripe and Authorize.net charge the same amount for each online payment you collect. You’ll spend 2.9% plus 30 cents on each transaction. The charge assumes you are using the Stripe API or an Authorize.net merchant account partner. Stripe also charges 0.4% on all recurring payments you process.
Authorize.net charges $25 per month for access to its gateway. But that total is negligible when you consider how much money you might bring in through your account. Stripe does not charge any monthly fees.
Which Is the Better Choice?
Based on these points, we find that Authorize.net is the better choice for your payment gateway needs. Authorize.net provides an easier approach to processing payments and doesn’t require as much technical knowledge as you might expect. Authorize.net also processes transactions faster and includes more advanced security features than what Stripe provides.
Look at your business operations to see which solution is right for your needs. You can choose a smart solution that works for whatever you want to plan. The solutions for your use can be worth noting when finding a system you will appreciate for your work needs.