Need advice about which tool to choose?Ask the StackShare community!
Mercado Pago vs Stripe: What are the differences?
Introduction
Mercado Pago and Stripe are both popular payment processing platforms, but they have key differences in terms of features and functionalities. Here are the top 6 differences between Mercado Pago and Stripe:
Supported Countries: Mercado Pago primarily operates in Latin American countries, including Argentina, Brazil, Mexico, and Chile. In contrast, Stripe is available in over 40 countries worldwide, including the United States, Canada, United Kingdom, Australia, and many others.
Payment Methods: Mercado Pago offers a wide range of payment options, including credit and debit cards, local payment methods, and even cash payments through offline channels. Stripe, on the other hand, primarily focuses on credit and debit card processing, although it does support popular digital wallets like Apple Pay and Google Pay.
Integration Complexity: Mercado Pago provides extensive documentation and resources for developers, but its integration process can be more complex compared to Stripe. Stripe offers a developer-friendly API and clear documentation, making it easier for businesses to integrate and start accepting payments quickly.
Pricing Structure: Mercado Pago's pricing structure varies depending on the country, payment method, and transaction volume. They charge different fees for different payment options, and this can make it more difficult to forecast costs. Stripe, on the other hand, has a straightforward pricing model with fixed transaction fees and no additional charges for different payment methods.
International Payments: Stripe is well-known for its robust international payment capabilities. It supports multiple currencies and provides sophisticated tools for managing cross-border transactions. Mercado Pago, although expanding its footprint in Latin America, does not offer the same level of global payment infrastructure and support.
Third-Party Integration: Stripe has a vast ecosystem of third-party integrations and plugins, making it easier for businesses to connect their payment processing with other tools and services. Mercado Pago, while offering some integrations, may have a more limited range of options in comparison.
In Summary, Mercado Pago is more focused on the Latin American market, supports a wider range of payment methods including cash payments, and has a more complex integration process. Stripe, on the other hand, has a global presence, offers a simplified pricing structure, and provides robust international payment capabilities.
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 Mercado Pago
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
- Connect1
- Checkout.js1
- Great UI1
- So easy to use1
- Payments without own backend (using Stripe Products)1
Sign up to add or upvote prosMake informed product decisions
Cons of Mercado Pago
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
Sign up to add or upvote consMake informed product decisions
What is Mercado Pago?
What is Stripe?
Need advice about which tool to choose?Ask the StackShare community!
What companies use Mercado Pago?
Sign up to get full access to all the companiesMake informed product decisions
What tools integrate with Stripe?
Sign up to get full access to all the tool integrationsMake informed product decisions
Blog Posts
+17
+31
+46+42+25
+44
+20
+35