Small Biz Stripe Tips

Stripe Tips and Advice for Small Businesses

How to Set Up Stripe Subscriptions with ChargeStripe to Prevent Late Payments

How to Set Up Stripe Subscriptions with ChargeStripe to Prevent Late Payments

Setting up Stripe subscriptions using ChargeStripe can help prevent late payments and improve customer relationships.

Stripe subscriptions with ChargeStripe allow you to set up ongoing payments for your customers, which can help reduce costs, prevent late payments, and as a result, improve your customer relationships. 

Subscription-based companies like Netflix, Dollar Shave Club, and Microsoft have been thriving for a long time. By using ChargeStripe to process Stripe payments, your company can too. 

We’ll show you how to set up subscriptions with Stripe and discuss some use cases and benefits in this post. 

Table of Contents

Download ChargeStripe Now

Download on the App Store   Get it on Google Play

How to Set Up Stripe Subscriptions with ChargeStripe 

You can set up ongoing Stripe subscriptions within minutes from your phone. 

Step 1: Download ChargeStripe 

Our app is available for iOS and Google Play app stores and is free to download. 

Step 2: Log in with your existing Stripe account

To use ChargeStripe, you’ll need a Stripe account so if you don’t have one, create one hereAfter downloading ChargeStripe to your phone, you need to log into your Stripe account using your email address and password. 

Step 3: Create a Stripe Subscription Plan 

Once you log in, create a Stripe subscription following these instructions: 

  1. Find the subscription feature on ChargeStripe’s menu.
  2. Click on + to add a new subscription plan to your Stripe account.
  3. Set up the Stripe recurring payment information (Product or Service name, amount, frequency).
  4. Click Save.

After creating the subscription plan, select the customer or customers that will pay for the recurring subscription: 

  1. Go back to the subscription feature on ChargeStripe’s menu.
  2. Click on the subscription you created.
  3. Add client’s personal and credit card information.
  4. Click Save.

Then, your client will be billed the amount you’ve set for the subscription plan at the chosen frequency. 

How can I confirm a successful payment? 

If a credit card expires or is canceled, the payment cannot go through. Even though you set up a subscription for a client, it’s imperative to confirm payments periodically. You can do this within your ChargeStripe account by going to the app’s menu and clicking on Previous Transactions. 

Why Stripe Subscriptions will Grow Your Business and How ChargeStripe Can Help

Many businesses rely on subscription models to keep costs low and customers engaged. For example, companies like Spotify and Netflix use subscriptions to give customers access to their services for a monthly fee. 

spotify stripe subscriptions

Spotify’s subscription offerings.

This approach has several benefits for both businesses and customers. 

First, it helps businesses to predict and manage their costs more effectively. 

For example, in Spotify’s case, offering monthly subscriptions at set prices helps them predict revenue for that month. 

If they have 2,567,890 customers on the Individual plan for $9.99/monthly, they know they’re guaranteed to make $25,653,221.10 that month from this plan.

Second, subscriptions give customers a convenient way to access the services they need without making a large upfront payment. 

GoDaddy uses subscriptions to its advantage. GoDaddy, founded in 1997, is a leader in web hosting services. 

godaddy stripe subscriptions

If you started a business but need a fast, inexpensive way to design a website, GoDaddy makes it attainable with its low start-up cost. $11.99/monthly is a small price to pay to create a website. 

Finally, it allows businesses to offer discounts and other incentives to encourage customers to sign up for and maintain their subscriptions.

hbo max stripe plans

HBO Max is a master of this strategy. They:

  • Offer free trial periods for new customers. This allows potential subscribers to try out the service and see if it fits them before committing to a monthly or yearly subscription. 
  • Offer discounted rates for customers prepaying annually. This helps to keep existing customers from canceling their subscriptions and encourages new customers to sign up for longer-term memberships. 
  • Offer discounts to subscribers who choose a limited ads subscription. This gives customers control over the experience they want from the service. 

Download ChargeStripe Now

Download on the App Store   Get it on Google Play

Subscription models offer a host of benefits to businesses, so how can ChargeStripe help?

chargestripe benefits

ChargeStripe is a Stripe payment processing company that helps small businesses accept mobile credit and debit card payments from anywhere and anyone. Taking payments is a simple, two-step process:

  1. You type, scan, or send mobile payments by typing in card information, scanning card details, or sending a payment request to customers through email or text.
  2. The customer pays you! 

Payouts take 2-3 days to hit your bank account, and we don’t charge hidden fees. 

Customers who use ChargeStripe for Stripe subscriptions have seen many benefits, including: 

Reduced late payments

Subscriptions use auto-pay. Every month or year, you bill your customers for your services. This automatic payment reduces the likelihood of missed or late payments that harm your cash flow.

chargestripe testimonials

More free-time

Instead of manually sending individual invoices, ChargeStripe sends payments automatically, saving businesses precious time and minimizing invoices and paperwork.

chargestripe testimonials

Improved customer experience

Customers never need to guess when their next payment will occur with Stripe subscriptions. They always know, and this consistency breeds satisfaction. 

chargestripe testimonials

Safe payments

ChargeStripe’s payments go directly through Stripe, offering two-factor authentication and annual Payment Card Industry (PCI) compliance validation.  

chargestripe testimonials

ChargeStripe is an excellent choice for small businesses that need an affordable way to start recurring billing.

How Stripe Subscriptions Keep Your Costs Low

why use stripe subscriptions

A Stripe subscription is an ongoing billing service allowing you to bill your customers regularly. It’s ideal for businesses with recurring revenue streams, such as the subscription SaaS (software-as-a-service) industry. 

Unlike other subscription platforms, Stripe does not charge additional fees for using its service. This makes it an extremely cost-effective solution for businesses of all sizes. In addition, Stripe offers a wide range of features that make it easy to manage your subscription business. For example, you can use Stripe to send invoices to your customers instantly, track recurring payments, and offer discounts and coupons. 

The Little-Known Benefits of Using Stripe 

In 2018, IDC conducted a Stripe-funded study measuring the impact of using Stripe as a payment processing platform. Their results were astounding. 

By using Stripe, customers have seen:

Business and revenue growth

27.6% of the global population shops online. Online transactions aren’t the future; they are the present, and organizations require a payment platform with usability, scalability, and affordability. 

IDC’s analysis through interviews with Stripe customers shows that, on average, businesses using Stripe realized 7% higher revenue, worth around $324,000 per year. 

Increased Reliability

By using Stripe, customers saw significant performance improvements and, as a result, higher conversion rates and lowered abandonment rates due to increased user experience. On average, customers reduced their business losses by 39%. 

Reduced Costs

When it comes to running a business, every penny counts. IDC’s analysis showed that Stripe customers take online payments more efficiently than non-Stripe users. That’s because Stripe customers:

  • spend less developer time building and updating their payment platform. Less developer time = time spent on more mission-critical tasks.
  • incur lower costs per transaction. Precisely 73% lower than costs incurred by average organizations and 52% lower than costs incurred by higher transaction volume organizations. 

Overall, Stripe is an excellent choice for businesses that need an affordable way to start recurring billing. 

Frequently Asked Questions about Stripe Subscriptions

Why use Stripe Subscriptions? 

Stripe subscription payments offer a convenient way to set up regular billings for your customers or clients, like your Netflix account or gym membership. With Stripe, you can define the date and frequency of automatic payment requests (invoices), so you can rest assured that payments will regularly come. Stripe subscription payments are simple, efficient, and take the hassle out of billing. 

How much does Stripe cost? 

Stripe costs 2.9% plus 30 cents per transaction to accept online card payments and 2.7% plus 5 cents for in-person payments. There are no recurring monthly fees. 

What is a good recurring billing solution for Stripe? 

ChargeStripe is the best app for recurring payments for Stripe. There are no recurring membership fees, and setup can be done in less than 5 minutes. 

Is ChargeStripe safe? 

Yes. ChargeStripe uses Stripe’s security to process payments. Stripe has strict 2FA (two-factor authentication) and PCI compliance. 

Ready to set up subscriptions for your business? 

It’s easy! Just download our app, integrate it with your Stripe account, and set up a subscription for your customers. If you have any questions, don’t hesitate to contact our team of experts. We’re happy to help you get started with Stripe subscriptions and save money while improving your customer relationships.

Download ChargeStripe Now

Download on the App Store   Get it on Google Play

 

The Best Mobile Card Readers for Small Businesses in 2022

The Best Mobile Card Readers for Small Businesses in 2022

Mobile card readers are a great way for small businesses to accept physical sales wherever they are. These readers make it straightforward for customers to pay for a product or service and for you as a business owner to make a sale. Yet, not all mobile card readers are the same since they have different payment processes, systems, and pricing plans.

To choose the best mobile card reader for your business, you’ll need to research the options available. To help you out, this article reviews the best mobile card readers of 2022 for small businesses.

Download ChargeStripe Now

Download on the App Store   Get it on Google Play

Mobile Card Readers Comparison

We’ve analyzed the five best mobile card readers available for small businesses in 2022. Here’s a quick overview of them:

Solution Cost Fees Accepted credit cards Contactless payment
ChargeStripe Free 1% on each Stripe transaction
(which is 2.9% + $0.30 per transaction)
Credit and debit cards from Visa, Mastercard, Discover, Amex, Japan Credit Bureau, China Union Pay, and more Yes
Stripe Terminal
(also offered by ChargeStripe)
Varies Varies Credit and debit cards from Visa, Mastercard, Discover, Amex, Japan Credit Bureau, China Union Pay, and more Yes
Square Reader for Magstripe Free for first reader
($10 each thereafter)
2.65% per credit card transaction Credit and debit cards from Visa, Mastercard, Discover, and Amex With hardware upgrade
Shopify Chip & Swipe Reader $29.00 2.5-2.7% per credit card transaction Credit and debit cards from Visa, Mastercard, Discover, and Amex With hardware upgrade
PayPal Chip and Swipe Reader $24.99 2.7% per credit card transaction EMV chip cards and traditional magstripe credit and debit cards No

Mobile Card Reader Reviews

ChargeStripe

best mobile card reader of 2022

As a small business owner, you probably already know Stripe, one of the best payment processors available for all types of businesses. You can use Stripe to accept all kinds of payments – from recurring payments to online shopping – but with ChargeStripe, you turn your Stripe account into a powerful, inexpensive mobile card reader.

ChargeStripe is a Stripe verified partner app that helps you transform your phone into a credit card reader. All you have to do is create a Stripe account, if you don’t yet have one, and download ChargeStripe on your mobile device. 

Features

With ChargeStripe, it’s possible to take credit card payments from anywhere without the need for a card reader machine. You do this by simply scanning a card with your phone’s camera or adding the card’s details to the payment interface on the app, working like a contactless solution for your physical payments.

You can purchase a card reader through ChargeStripe, either the Stripe or Magtek model, and choose between two different options:

ChargeStripe accepts the same credit cards that Stripe does, making it a complete solution for all businesses and customers.

Pricing

ChargeStripe’s low pricing makes the app one of the best mobile card readers of 2022 for small businesses. Since it has Stripe integration, the tool will only charge you 1% on top of each transaction (which is 2.9% + $0.30) made within the interface. There are no monthly or extra fees, and you only pay by use.

You can also purchase a Magtek card reader for the following cost:

Fees for using ChargeStripe and Stripe remain the same for those businesses using a Magtek card reader.

ChargeStripe also offers the Stripe Terminal, which we’ll get into below.

ChargeStripe Pros

  • Cheapest solution to accept credit cards anywhere
  • Charges just 1% above each Stripe transaction (which is 2.9% + $0.30), with no extra or monthly fees
  • Fully integrates with a Stripe account
  • A contactless option, with no need for a mobile card reader machine
  • Easy to use – just download the app and log in
  • Offers trustworthy mobile card reader machines for businesses who need them
  • Customer support available 24/7

Try the Best Mobile Card Reader of 2022

Download on the App Store   Get it on Google Play

Stripe Terminal

stripe terminal mobile card reader

Stripe Terminal is the mobile card reader solution Stripe offers its customers. You can also order it through ChargeStripe.

The card reader consists of a machine that connects a Stripe account into the offline world, making it possible for retailers and other businesses to manage online and offline shopping within a unique Stripe dashboard.

Features

With Stripe Terminal, you’ll enjoy the following features:

  • A simple, unified payment management system for offline and online purchases
  • Omnichannel integration for all payment channels, including in-person and online reservations with in-store pickup
  • Mobile card reader machines with contactless solutions
  • Accepting all credit cards authorized on Stripe’s payment gateway
  • Easy scalability with new hardware and remote reader configuration

Pricing

Stripe offers pre-certified card-readers with cloud-based fleet management for the following prices:

[HAIDEN: could you please update the prices below & in table above with USD amounts? https://stripe.com/en-ca/terminal#pricing
Thanks- they won’t display the US page for me since I’m in Canada.]

  • C$79 – BBPOS WisePad 3
  • C$299 – BBPOS WisePOS E

If you process large payment volumes or have a unique business model, contact Stripe’s sales team for pricing.

Stripe Terminal Pros

  • Stripe solution 
  • Integrates offline and online purchases
  • Mobile reader accepts all types of credit cards and has contactless solutions

Stripe Terminal Cons

  • Upgraded hardware is pricier than other readers

Square Reader for Magstripe

Square credit card reader

Square is one of the most popular payment systems available for all businesses. Like Stripe, they offer a mobile card reader solution for its customers, the Square Reader for Magstripe

To use this solution to accept credit card payments, all you need to do is download the app (available for iOS and Android), sign up and get a free card swipe reader.

Features

Square’s solution is simple to use and accepts all major credit cards. Once you sign in to Square, you’ll get the free card reader with no monthly fee or long-term commitment required.

The reader works with iOS and Android mobile devices. You simply connect the machine to your smartphone or tablet and open the application. There, you can manage all your purchases and get detailed information about your store’s inventory and budgets.

Pricing

Square charges a flat 2.65% fee for each credit card transaction made on its terminal. No extra or monthly fees are applied, though.

However, you will be charged if additional service is required, like:

  • If you need to add transaction information manually, Square charges 3.4% + $0.15 per transaction.
  • To accept magstripe payments, your first reader is free and it’s $10 for each additional reader.
  • To accept contactless payments, you’ll need to purchase the Reader for Contactless and Chip for $49 or the Stand for $169.

Square Reader for Magstripe Pros

  • Trustworthy payment processor and services
  • Free card reader with no monthly fees or long term commitment

Square Reader for Magstripe Cons

  • Charges some of the higher fees on the market 
  • Extra services (contactless payment, manual transactions) require additional fees or equipment purchase

Shopify Chip & Swipe Reader

Shopify mobile card reader

If you run a Shopify store, the Shopify platform itself offers a good solution for working with in-person sales: the chip and swipe card reader.

The Shopify Chip & Swipe Reader is an app and card reader that connects your Shopify online store to your offline activities, taking payments from customers wherever they are.

Features

You need to have a store based in the US to use Shopify’s card reader. It’s available for all iOS and Android devices (including tablets), accepts payments from American Express, Discover, Visa, and Mastercard, and has 24/7 customer support. 

Once the card reader is connected and paired with the device, you can log into your Shopify account using the app and start collecting in-person credit card payments. 

Pricing

[I can’t verify these prices as both items are out of stock & pricing doesn’t show.
Image above is old. Current on website only shows Android compatibility but we said iOS last year- not sure if they discontinued this or it isn’t available:
https://hardware.shopify.com/collections/card-readers-1/products/chip-swipe-reader-android-only]

You’ll need to purchase the card reader for $29 to start using this Shopify solution. If you want to accept contactless payments, you must buy an extra card machine for $49.

For Shopify basic plan users, all in-person transactions will incur a 2.7% fee. But this fee can go as low as 2.5%, depending on the plan you sign up for.

Shopify Chip & Swipe Reader Pros

  • Best Shopify store solution for connecting all payments into one platform
  • App and card reader are easy to install and use
  • 24/7 customer support

Shopify Chip & Swipe Reader Cons

  • Only available for US-based Shopify stores
  • Need to purchase an extra machine for contactless solutions
  • Transaction fees are some of the highest on the market

PayPal Chip and Swipe Reader

PayPal mobile card reader

PayPal is one of the most popular payment processors worldwide, and it offers a solution for businesses needing to take in-person credit card payments.

The PayPal Chip and Swipe Reader is one of the most easy-to-use and affordable mobile card readers on the market.

Features

PayPal’s mobile card reader uses Bluetooth technology, allowing this machine to accept payments from any credit card within the range of the mobile device to which it’s connected, including an iPhone, Android, or Windows phone. Plus, with PayPal, you can manage all your income in one account, customize receipts, manage inventory, and access multiple online tools and resources.

Pricing

The reader costs $24.99, and PayPal has a 2.7% flat fee for each transaction. Though there are no monthly or extra fees, you’ll incur a 3.5% + $0.15 fee per manually-entered payment.

PayPal Chip and Swipe Reader Pros

  • Trusted PayPal solution
  • Uses Bluetooth technology

PayPal Chip and Swipe Reader Cons

  • Fee of 3.5% + $0.15 for any manually-entered payment

How to Use ChargeStripe as a Mobile Card Reader

using Chargestripe mobile card reader

It’s so easy to get started with ChargeStripe as a mobile card reader:

Step 1: Sign in to Stripe

Create a Stripe account and link your bank account to transfer funds.

Step 2: Download ChargeStripe

Download ChargeStripe on your smartphone for free. It’s available for iOS or Android devices.

Step 3: Log in with your Stripe account

Once ChargeStripe is installed on your phone, log in with your Stripe account.

Step 4: Use ChargeStripe as a mobile card reader

Use your contactless mobile card reader simply by logging into ChargeStripe on your smartphone.

Why Should Small Businesses Have Mobile Card Readers?

Each year, an increasing number of people rely on credit and debit cards as their preferred payment method, rather than cash or bank transfers. Don’t miss this opportunity! Make this the year you accept card payments to convert more sales into in-person purchases. 

This is a simple and effective way for small businesses to increase their revenue and make it easier for their customers to choose between different payment methods.

Best Mobile Card Readers FAQ 

What is the best credit card processing system?

The best credit card processing system is the one that matches your business needs in terms of security, dependability, accepted credit cards options and cost-benefit. 

ChargeStripe addresses all of these things, making it one of the best and cheapest options available for all types of businesses. It uses Stripe as a payment gateway and processor and transforms your mobile device into a robust credit card payment machine.

Can I turn my phone into a card reader?

Yes. With the help of ChargeStripe, you can turn your smartphone into a complete card reader with no monthly or subscription fees. You just need to open a Stripe account, download ChargeStripe and start accepting payments through your mobile phone.

Best Mobile Card Readers of 2022 Recap

Above, we presented the best mobile card readers of 2022, which are:

  • ChargeStripe
  • Stripe Terminal
  • Square Reader for Magstripe
  • Shopify Chip & Swipe Reader
  • PayPal Chip and Swipe Reader

Get started with the best cost-benefit option on the market, ChargeStripe. With it, you can turn your mobile device into a complete credit card reader with just an app, and enjoy lower fees with a high level of service and security.

Try ChargeStripe Now

Download on the App Store   Get it on Google Play

Increase Your Business Revenue Through the Stripe Terminal Card Reader

Increase Your Business Revenue Through the Stripe Terminal Card Reader

If you’re a store owner looking to consolidate both your in-person and online payments, do we have some exciting news for you. Stripe’s new reader for chip and contactless payments, Stripe Terminal card reader, has been released. Keep reading to learn all about:

read more…

5 Tools You Need for Running a Bed and Breakfast or Serviced Apartment

5 Tools You Need for Running a Bed and Breakfast or Serviced Apartment

Running a bed and breakfast or serviced apartment can be a pretty lucrative venture when managed well. There are many aspects and functions of this business to pay attention to regularly, like sales, marketing and finances, along with the routine, day-to-day tasks like cooking, cleaning, restocking, payment processing and invoicing.

When it comes to taking payments online or at your on-site point-of-sale, it’s key to have a trusted credit card processor, like ChargeStripe. This just makes the payment process as smooth as it can be for both you and your guests. Here, we’ll go over:

  • What bed and breakfasts and serviced apartments are and what the US sector looks like.
  • 5 top tools to more easily run a B&B or serviced apartment, so you can enjoy less stress and more free time.
  • Some key bed and breakfast or serviced apartment management tasks to pay attention to.

read more…

Selling Handbags Online: How Luxury Goods Resellers & Marketplaces Can Collect Credit Card Payments

Selling Handbags Online: How Luxury Goods Resellers & Marketplaces Can Collect Credit Card Payments

Selling handbags online can be a lucrative business, whether you’ve decided to open up an online store, or you already own a marketplace, reseller, or auction site. One of the most important parts of your business is the point-of-sale process. Whether you want to sell your products online or in person, you’ll need a trusted credit card processor to make the payment process as simple as possible for both you and your customers. In this post, we’ll take a look at how to use ChargeStripe to sell handbags, designer watches, or other luxury items online. 

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The 7 Best Software Tools For Small Business

The 7 Best Software Tools For Small Business

Small businesses are responsible for an essential part of the US economy. And, if you are a small business owner or employee, you know that to keep up with managing the various needs of your business, digital tools can come in handy.

To keep small business leaders one step ahead of the pack, this article prepared a list of the best software for small business that can support you in basic activities to keep your business up and going. Check it out!

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What is the Cheapest Way to Accept Credit Card Payments?

What is the Cheapest Way to Accept Credit Card Payments?

It’s no secret that small business owners are constantly looking for ways to make their businesses more profitable. One way is by finding the cheapest way to accept credit card payments. But with all of the different providers out there, how do you know which one will work best for your needs?  This blog post will look at some of the most common credit card processing services, including ChargeStripe for mobile credit card payments.

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How to Set Up Stripe Recurring Payments on your Phone

How to Set Up Stripe Recurring Payments on your Phone

For small businesses or contractors that provide ongoing services (like delivery subscriptions, health professional appointments, or cleaning services), setting up recurring payments for clients is an excellent way to control cash flow and improve financial planning.

If you use Stripe as a payment method for your business, you can benefit from setting up a subscription-based payment for your clients.

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How to Send a Stripe Invoice/Payment Request from Your Phone

How to Send a Stripe Invoice/Payment Request from Your Phone

If you run a business that accepts mobile payments, you know how important it is to make the payment process simple – for both you and the customer. But what if you need to send invoices for your products and services? For Stripe users, there’s a super-easy way to send a Stripe invoice or payment request via text or email and collect payments, without having to add a complicated payment portal to your website.

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How to Not Get Your Stripe Account Rejected

How to Not Get Your Stripe Account Rejected

As a merchant, one of the biggest perks of using Stripe is the ability to start accepting payments immediately after you sign up. All you have to do is fill in basic information about your business and bank account, and your account will be approved. 

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