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MANGOPAY vs Stripe: What are the differences?
Introduction
MANGOPAY and Stripe are both online payment platforms that provide businesses with solutions to accept and manage payments. However, there are several key differences between the two platforms that make them unique in their own ways.
1. Pricing Structure: MANGOPAY charges a setup fee and a fixed fee per transaction, while Stripe does not charge a setup fee and has a transaction-based pricing model. This means that businesses using MANGOPAY will incur a fixed cost for each transaction, whereas with Stripe, businesses pay a percentage of the transaction amount.
2. Integration Flexibility: MANGOPAY offers a more flexible integration process with customizable payment workflows and the ability to seamlessly integrate into existing systems. On the other hand, Stripe provides a simpler integration process with ready-to-use libraries and plugins, making it easier for businesses to get started quickly.
3. Supported Currencies: MANGOPAY supports a wide range of currencies, including both major and minor currencies, allowing businesses to accept payments globally. Stripe also supports multiple currencies, but the number of supported currencies may vary depending on the country where the business is based.
4. Payouts and Funds Management: MANGOPAY provides comprehensive tools for managing funds, allowing businesses to easily collect, hold, and distribute money to users. Stripe, on the other hand, focuses more on payment processing and does not provide a full-fledged funds management system. Businesses using Stripe may need to build their own payout infrastructure or integrate with third-party solutions.
5. Dispute Resolution: MANGOPAY offers a dispute resolution service as part of its platform, providing businesses with a streamlined process to handle payment disputes and chargebacks. Stripe also provides tools for handling disputes, but the process may require more manual intervention from the business owner.
6. Additional Features: MANGOPAY offers additional features such as e-wallets, KYC (know your customer) compliance, and escrow services, making it suitable for crowdfunding platforms and marketplaces. Stripe, on the other hand, focuses primarily on payment processing and does not provide these specific features.
In Summary, MANGOPAY and Stripe differ in their pricing structure, integration flexibility, supported currencies, funds management capabilities, dispute resolution processes, and additional features.
We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.
We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.
With COVID-19 looming over us, businesses are, more than ever, looking for ways to set up online payments.
And having recently gone through implementing both Stripe and GoCardless to get monthly subscriptions set up and automated on my company website, I felt there was no better time to write this blog post!
If you're currently looking at working with a Payment Gateway provider API, or you're currently working with one but are not a fan, are looking to automate things a bit more, or are just generally thinking about changing, then you should have a read of my latest blog post where I compare Stripe and GoCardless.
I compare APIs in depth, specifically the subscription checkout flow that both offer (they're very similar, with some BIG differences).
There are plenty of code examples on how to set it up in a Node.js environment and right at the end, I rate each API based on the following factors:
- API ease of use
- API documentation
- Payment pages
- Costs / fees
- Security
- Developer appeal
- Customer experience
- Free Trial
So feel free to check it out, and I hope you like it. Please leave any feedback as it is very helpful. Thanks!
Stripe was made with developers in mind first so the extensibility of it is great! This makes it very easy for us to integrate and automate as much as we need with its APIs and SDK. It allows a lot of customization of exactly what we need to build our applications. They also manage all of our customers from a tax and accounting perspective which makes it easy from a business standpoint.
Pros of MANGOPAY
Pros of Stripe
- Easy setup302
- Developer friendly292
- Well-designed api248
- Great documentation191
- Clear pricing169
- Secure75
- Reliable74
- Full integration with webhooks63
- Amazing api43
- Great customer support38
- Easy11
- Credit cards never hit your server - no pci worries6
- Recurring billing5
- No merchant account/gateway required4
- BitCoin3
- Easy to integrate3
- Support for SCA (Strong Customer Authentication)2
- Fast UI2
- Great app2
- Beautiful1
- Payments without own backend (using Stripe Products)1
- Connect1
- Checkout.js1
- Great UI1
- So easy to use1
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Cons of MANGOPAY
Cons of Stripe
- Connect4
- CANNOT withdraw USD to a Canadian Bank Account2
- Does NOT have a currency conversion option like Paypal2
- They keep 25% of the income for 60 days2
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What is MANGOPAY?
What is Stripe?
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What tools integrate with Stripe?
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