Stripe Terminal Review 2024

Stripe Terminal is built with a developer in mind. While the coding required isn’t very extensive, it is more than a general layperson can do without help. You may find a third-party integration easier if you can’t code it yourself, although that will usually require a monthly charge.

While there are no monthly fees, Stripe Terminal does charge a standard credit card processing fee of 2.7% plus 5 cents per successful card transaction. If your business processes a larger volume of payments, contact the sales department for custom pricing. In addition to the per-transaction fees, you must also purchase a pre-certified card reader.

Hardware options include the following:

• BBPOS WisePOS E
• BBPOS Chipper 2X BT
• WisePad3
• Verifone P400
• Stripe Reader M2

If a customer makes a purchase online, they can pick it up in-store. Stripe provides a software development kit (SDK) that makes it simple to include into your own mobile and web applications, resulting in a unique in-store checkout experience.

With Stripe Terminal integration, you can track all of your online and off-line transactions in one place, making reporting and reconciliation easier. Terminal works with Stripe Payments, Connect and Billing—so you can send invoices, set up subscriptions and receive payment for products and services. With its centralized fleet management solutions, you may efficiently manage in-person payments as your business grows.

You can order EMV-certified hardware directly from Stripe, so your business has fraud protection. Its hardware accepts chip cards and contactless payments like Apple Pay and Google Pay, although some reviews say it doesn’t always work the greatest.

Your first payout can take up to ten business days, but after that, it’s a standard two-business-day wait to get your funds. For a 1% fee of the payout amount, you can get access to your funds immediately with Instant Payouts.

To receive your payouts within minutes, you must have an eligible debit card for the funds to transfer to. This means you can access your money 24/7—including evenings, weekends and holidays. There are daily payout limits, so check your dashboard for yours. As your business grows, so can your limit.

Don’t expect to have your Stripe Terminal ready to use the moment you sign up. First and foremost, it’s a developer-friendly tool; if you lack developer experience, you will have difficulty setting this up without help.

Some users complain about their funds getting held for an indefinite amount of time while their account is in review. This is helpful when there are fraud issues, but for other businesses without these issues, it can put them in a bind to wait for payment.

Lightspeed and eHopper POS are easier to use than the Stripe Terminal. However, a developer can completely customize the terminal to make your own checkout experience, whereas the other two POS systems aren’t as flexible. Each of these systems allows software integrations to help expand functionality. With Stripe Terminal being relatively new to the in-person retail scene, there aren’t as many integrations as eHopper and Lightspeed, although an open API could change that quickly.

If you’re a developer or employ one, you’ll love Stripe Terminal thanks to its flexible API. Otherwise, you’ll need to spend some time getting acquainted with the setup. This terminal is best for online-first retailers who already know and like Stripe’s e-commerce features.