Stripe Connect is a dedicated payment gateway for Stripe account holders, which is why it’s best for Stripe users who transact internationally and want to streamline their payment process. Its features include multi-country support, payment routing, onboarding, compliance, and platform management. Stripe Connect’s fees start at $2 per active account, per month + 0.25% + 25 cents per payout for express and custom accounts.
Stripe Connect Pros and Cons
Integration with Stripe products
Unintuitive user interface
Recurring billing solutions
No gift card options
Helpful customer support
Who Stripe Connect Is Best For
- Those who have an existing Stripe account will find it convenient to use a payment gateway option from the same provider. The software also supports transactions in multiple countries such as Brazil, Australia, Germany, Spain, the United Kingdom, Japan, and Denmark.
Stripe Connect Pricing
Stripe Connect’s pricing page states that it’s free for Standard Stripe account holders but starts at $2/account/month + 0.25% + 25 cents per payout otherwise. If you process over $150,000 per month or marginally lower monthly volumes, then you may reach out to Stripe Connect to inquire about alternative pricing options.
Standard Stripe Accounts
No additional fees
Express or Custom Stripe Accounts
$2/account/month + 0.25% + 25 cents per payout
$2.99 per e-filing or mailing,
$4.99 per W-9 form collected
Stripe Connect Alternatives 2020
Stripe Connect Features
The software provides Stripe account holders with streamlined solutions for processing payments in the US and other countries. Let’s take a look at some of Stripe Connect’s features below.
Stripe dashboard: Easily access tasks (such as view, create, find, inspect, update, and send funds to accounts) in one place. You can also manage connected accounts, largest accounts, and more.
Payment routing: Stripe Connect enables you to track balances, batch earnings into payouts, time transfers with local cutoffs, and retry failed transfers. You can route one-to-one, one-to-many, many-to-many, process account debits, Connect payouts, top-ups, and hold funds.
Instant payouts: You can send funds to a supported debit card in real time. The provider accepts requests 24/7, even on weekends and holidays, and your recipient gets the funds within 30 minutes of the transfer request.
Onboarding and verification: The signup process is kept lightweight by staggering data collection. The software also provides receipt onboarding UIs for quick turnaround.
Compliance: You can provide dynamic risk-based KYC/AML checks, API-based OFAC and sanctions screening, IRS tax threshold tracking and 1099 support, card industry blacklist filtering, licensed money transmission from the US and UK FCA, and screening for bad actors using data from the Stripe network.
International support: Stripe Connect gives you access to any country where Stripe already operates. You may process credit card payments in over 30 countries and accept payments in over 135 currencies.
Data security: The provider ensures your data’s security by maintaining its PCI Service Provider Level 1 certification. All transaction data are encrypted at rest with AES-256 and decryption keys are stored on separate machines.
Summary of Stripe Connect Reviews
Users who left positive Stripe Connect reviews said that they appreciate its recurring billing solutions and its seamless integration with other Stripe products. Meanwhile, some users find that the software has a steep learning curve and its unintuitive user interface aggravates that.
Flexible billing options
“Stripe is one of the best online payment providers. It offers a variety of features and payment options convenient for every use and different payment frequencies suitable for every customer type. They also provide excellent customer support so if you ever need help and have questions, they will find a way to help you.”
A user who left a negative review on G2 said that his Stripe Connect work board is very disorganized, which made it difficult to orient himself with the software. He also noted its limited compatibility with many standardized document formats.
Stripe Connect Frequently Asked Questions (FAQs)
Which third-party applications does Stripe Connect integrate with?
Stripe Connect can integrate with most popular marketplaces, but the specific platforms are not declared on its website.
How does Stripe Connect hold funds?
Depending on the client’s preferred setup, Stripe Connect can accept funds from customers and hold it for up to two years before payout. This can be useful for events and transactions with product return or refund options.
Does Stripe Connect offer user training programs?
No details about user training are available on its website, but Stripe Connect gives you access to detailed documentation, 24/7 customer support, and a knowledge base.
Our Top Payment Gateway Picks
If you aren’t sure if Stripe Connect is right for you, then this article on the best payment gateways is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, security, ease of use and set up, sales channel served, and features among others.