Competitors
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      1. Sales Enablement
      2. Competitors

      STRIPE COMPARISON (SUITESYNC)

      Stripe primarily offers payment processing software and application programming interfaces for e-commerce websites and mobile applications.

      Download the external facing PDF here.

       

      Feature

      Paystand

      Stripe
      Core Strengths 0% Fee Digital Bank Network Rail with Real-Time Funds Verification and Next-Day Funds Transfer capabilities instead of standard 3-7 day wait. Competitive payment processor for online sales. It can accept dozens of payment methods and currencies. Useful developer tools provided you can code.
      Overall ROI Long term ability to control A/R costs, move to fixed rate, and reduce costs with free bank network—even as revenue grows. Customers have experienced ROI starting at the 3-8 month mark. Stuck in legacy card processing model, where costs continue to increase as revenue increases all while card networks keep periodically increasing fees.
      Credit Card
      Payments
      through Sales
      Orders/Invoices      		 Modern: Blended, fixed, wholesale rate
      across all card types.
      Base rate
      2.39% + $0.50 per transaction      		 Standard plans start at:
      2.9% + $0.30/txn.
      + 0.5% for manually entered cards
      + 1.5% for international cards
      + 1% if currency conversion is required
      Direct ACH Payments through Sales Orders/Invoices Accelerated ACH = 0.35% basis points per
      transaction. Speed: 2 days
      Legacy Plan = $0.35 basis points per
      transaction      		 Legacy ACH (Debit Only), Requires your
      customer to create account with Plaid.
      0.8%/txn ($5 max)
      Free Payment Rail Paystand's B2B Network
      (0.00% + $0.00 per transaction)      		 Not offered
      Fixed or Variable Costs SaaS: Fixed subscription based on annual volume processed through the system. Variable custom volume-dependent
      package design.
      Fee Reconciliation Automates payment reconciliation process by integrating with ERP systems for real-time syncing and settlement. 100% manual reconciliation of fees at the end of every month, once the interchange report/card statement is released.
      Fee Management Robust, native fee management with thresholds and convenience fees. Fees, even when surcharged, are reconciled at the time of the transaction with proper journal entries automatically updated. Robust on the front end, with manual reconciliation of convenience fees within ERP.
      Implementation Time Frame 4-6 Weeks 1-3 Months
      Fully
      Customized &
      Branded
      Billing Portal      		 Completely customizable to your brand, with smooth customer experience, modern UI/UX, partial payments, and real-time balance updates. Requires custom development to brand, modern UI/UX, no real-time balance updates.
      Requires 3rd Parties None Requires Plaid for ACH transactions.
      Cash Application (Bank Reconciliation) Real Time: payment records instantly written to ERP to auto-update balance on invoice. Requires login to Stripe and manual effort.
      Bank Deposit Reconciliation Daily deposit records updated in ERP automatically, with no manual intervention from staff. Eliminates end-of-month reconciliation. Can be automated with Stripe Invoicing, but costs 0.4% to 0.5% per paid invoice.
      Customer Statements Enable your customers to view and pay multiple invoices/account balance with a few clicks, payment records automatically written to corresponding invoices. Access to a Customer Portal through the Stripe Invoicing module.
      Automated Payments Create advanced & automated recurring billing schedules for any required configuration (monthly, quarterly, net terms, installments, usage based, etc) directly within NetSuite environment. Possible through additional module, Stripe Billing. Requires paying between 0.5% and 0.8% on recurring payments.
      PCI Compliance Funds-on-file are automatically tokenized in a PCI Compliant manner, relieving the merchant of PCI Compliance restrictions. System is PCI DSS and SSOE 1086 Compliant. Paystand does not hold onto client data and will happily migrate. Stripe customers absolved of need to become PCI Compliant: all PCI compliance concerns handled as part of overall product offering.

               

       

      We highly recommend you visit Cartmill’s Versapay/Stripe competitive training: https://docs.google.com/presentation/d/19MSTD5TEZ9tCzeVMMVQH1ipud-sHWvgO-XUxym_84EI/edit?usp=sharing