+65 83551210 Every store owner realizes that their businesses need to have an online presence since people all over the world are shopping on the Internet. Among topics about what to sell online and how to start an online store, the most puzzling is how to accept credit and debit card payments online.
Here’s a solution: Stripe payment gateway - A smart payment solution connecting your e-commerce website and bank. Stripe and PayPal emerge as the market leader in Payment Gateways.
Global Link Asia Consulting will give the best solution for startups and small and medium-sized enterprises to make the most simple online payment with Stripe – A smart payment gateway.
1. What is a Stripe payment gateway?
Similar to PayPal, Stripe is an online payment gateway that helps individuals/businesses receive payments from their online business website and conveniently withdraw money to their bank accounts:
- In 2011, in San Francisco (California), Stripe was born to expand the e-commerce market and become a reliable product for today's Startups.
- Stripe is based on seven simple lines of code, helping traders to accept payments online. The job is done quite easily by copying - and pasting the code into the trader's website.
- Stripe also built an easy-to-use Application Programming Interface (API) to accept credit cards. Therefore, businesses are very fond of Stripe's API for its clear documentation and extremely low transaction fees.
2. Why should you choose Stripe payment methods?
Online purchases and payments can be made easily through international wire transfers, e-wallets, etc. However, there are many risks to both buyers and sellers when the payment is made through the online payment gateway with cards such as Visa/Mastercard/American Express, etc. Criminals cheating on online transactions are becoming more diverse and sophisticated.
So why don't customers use the Purchase app available on Apple's iPhone (Customers do not need to download or register this application)? This is because even though the application is convenient, you must still pay up to 30% for Apple.
If you do not want to spend this fee, your business needs to have a Stripe account for the following reasons:
Stripe users, including the small business owners we spoke with, rave about how easy the service is. Stripe is not only easy to use for businesses, but it also simplifies checkout for customers.
“Stripe made payment acceptance and now card issuance easier than ever and transformed a business into a technology decision”
Ryan Gilbert, fintech investor and General Partner at Propel Venture Partners
What also makes Stripe a favorite amongst small business owners is its flexibility. There are two ways businesses can accept credit card payments on Stripe: via the dashboard or by integrating the service into their online stores.
Stripe only charges a flat fee per transaction for which the merchant receives money from the buyer. All withdrawal fees to the merchant's bank account are free of charge. Compared to other online payment solutions, Stripe has a huge advantage.
Important note
Stripe has been present in more than 42 countries around the world, including the USA, Hong Kong (China), and Singapore. So you have to register an overseas company to register for a Stripe Business account.
We can help you register a Stripe account if your businesses are located in non-listed countries.
3. How can we help you set up a Stripe Business account?
We advise and help you Set up a company and open a bank account in Singapore, Hong Kong, and the U.S
To open a Stripe account, business needs:
- Register to open a Stripe account at Stripe Singapore
- Link your Stripe account to your Singapore corporate bank account
- Verify Stripe account
We assist customers in integrating the Stripe payment gateway into the website.
Owning a Stripe account is very beneficial. However, the registration process involves various steps and complicated documents, which can cause unnecessary difficulties in opening a Stripe account.
Understanding that problem of your business, Global Link Asia Consulting launches the following services:
- Instructions for registering a Stripe account by the standard process, especially for merchants who have ever had problems making online payments or signing up for a Stripe account.
- Support for Stripe account management and maintenance, optimizing international money transfers, etc.
- Consultancy on international online payment solutions, etc.
4. FAQs about Stripe
Payments through Stripe only require a flat fee per transaction. For example, each payment for an online purchase will be charged at 2.9% of the price + 30 cents. Stripe has no signup or setup fees.
Stripe is a great choice for businesses that:
Have an e-commerce sales channel;
Want the best possible security;
Conduct international cross-border sales
Have a high demand for payment workflow customization
To register for Stripe Business, you need to have a company and a business bank account in a country that Stripe supports such as Singapore, Hong Kong, USA, etc. Otherwise, you can only register for Stripe Individual.
You can read our article hereto see how Stripe performs compared to its largest competitor: Stripe vs PayPal - Which is the best payment gateway for businesses
With over a decade of experience serving as a trusted partner to more than 750 business owners seeking professional development and breakthroughs in the international market, we are an expert strategic corporate service provider helping you incorporate and operate successfully in 10 different countries
Our areas of expertise include:
- Strategic Consulting and Company formation in over 10 different countries worldwide such as Singapore, Hong Kong, the U.S., Australia, Thailand, Malaysia, and offshore destinations like BVI, Belize, Seychelles, and more.
- Account opening for personal and corporate bank accounts, as well as setting up PayPal and Stripe gateqays in countries like Singapore, Hong Kong, and the U.S..
- Tax Consulting and Preparation for SFRS IFRS financial reports, corporate income tax returns, VAT/GST (Value Added Tax/Goods and Services Tax), and more.
- Opreation support:
- Registered adress;
- Foreign consular legalization;
- Trademark and patent protection registration in Singapore and the US;
- Employment Pass application in Singapore and Hong Kong;
- Website design, international SIM number provision;
- DUNS registration.
With over 10 years of experience and a team of experts with 5 to 25 years of experience (international standard certifications) as well as direct partnerships with institutions such as OCBC, UOB, DBS, PayPal, and Stripe, we are proud to offer professional, legal, transparent, sustainable services with no hidden costs.
Global Link Asia Consulting Pte. Ltd. is pleased to announce the publication of the above insightful and informative article on our official website, Global Link Asia Consulting on 08th April 2018. The copyright for this article is exclusively held by Global Link Asia Consulting Pte. Ltd. Any unauthorized reproduction or distribution of this content without our express written permission is strictly prohibited. We value the protection of our intellectual property and appreciate your cooperation in adhering to these guidelines. Thank you for your continued support of Global Link Asia Consulting Pte. Ltd.
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