PayPal is definitely a full service payment processor, while Stripe isn’t. In fact, PayPal is effectively a bank with many people using their PayPal account as they would a checking account.
Stripe, on the other hand, does one thing, which is process card payments, and it does it very well. Stripe is great for tracking your buyer transactions and doing things like giving refunds. Any other features, such as getting the buyer address and sales information, and printing orders and packing slips, is the responsibility of the ecommerce platform that integrates with Stripe, such as DPW.
A good question is why accept card payments through Stripe when PayPal accepts card payments even without having a PayPal account?
It comes down to cost, customer service, and policies. Stripe transaction fees are 2.9% + 30 cent per transaction where PayPal fees are 3.49% + 49 cents. As you can see, the seller ends up paying for the extra features PayPal provides.
Customer service can be a bigger issue. Many sellers and some buyers have found PayPal service and policies to be less than friendly and the trend not being positive. This includes, difficulty in contacting support, onerous and continuing identity verification issues, and holding funds for extended periods of time. Further, PayPal leans in the favor of the buyer often at the expense of the seller. Stripe, on the other hand, has consistently better service and friendlier policies.
A buyer can pay with a card through PayPal without needing a PayPal account, however, if the buyer has a PayPal account, PayPal will require the buyer to sign in to it. With Stripe, not only doesn’t a buyer need a Stripe account, they cannot have a Stripe account unless they are also sellers. A buyer doesn’t even need to know or care about Stripe. To the buyer, they are simply paying with their card.
All of this is why we decided to offer Stripe to give both our artists and buyers an alternative to PayPal. With Stripe, an artist can be a member of DPW without needing a PayPal account at all.
DPW does provide many of the features PayPal has that Stripe doesn’t. DPW lets you view and print an order for the artist’s records and a packing slip for the buyer from the “I want to…” drop down menu for the artwork in the Art Tracking Grid. Both the order and the slip have the buyer’s email and shipping address. You can also view a sales report.
As for shipping labels, for US artists, you can’t do better than the click and ship feature on the USPS.com website, where you can pay for and print Priority Shipping labels with tracking and insurance, both of which we strongly recommended. There is no membership fee to be able to do this and you pay the same amount as you would at the post office. All you need is an inexpensive scale. As a plus, USPS will deliver Priority shipping boxes to your house for free.