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Gumroad vs Stripe: What are the differences?
Introduction
Gumroad and Stripe are both online payment platforms that serve as intermediaries between sellers and buyers. However, there are key differences between the two.
Pricing Structure: Gumroad offers a simple pricing structure with a transaction fee of 3.5% plus $0.30 per sale, while Stripe offers more complex pricing options with different rates for online and in-person transactions, as well as charges for additional features and services.
Customizability and Branding: Gumroad provides a more limited level of customization and branding options for sellers, allowing them to customize the colors and logo but not the overall checkout experience. On the other hand, Stripe allows for extensive customization, giving sellers the ability to fully integrate the payment process into their own website and maintain a consistent brand experience.
Subscription Management: Gumroad offers built-in subscription management, allowing sellers to set up recurring payments for digital products and memberships with ease. Stripe, on the other hand, requires additional development and integration to set up and manage subscriptions.
Integration and Developer Tools: Stripe offers robust developer tools and extensive documentation for easy integration with various platforms, making it a preferred choice for developers and businesses with advanced technical needs. Gumroad, while also providing integration options, may not offer the same level of flexibility for developers who require custom solutions.
International Payments: Stripe supports a wider range of currencies and provides a global payment infrastructure, making it suitable for businesses that operate internationally. Gumroad, on the other hand, has more limited currency options and is primarily focused on serving customers in the United States.
Support for Physical Products: While both Gumroad and Stripe primarily cater to digital products and services, Gumroad offers additional support for selling physical products, including inventory management features and shipping options. Stripe, on the other hand, does not have built-in features specifically designed for physical product sales.
In Summary, Gumroad and Stripe differ in their pricing structures, customizability, subscription management capabilities, integration options, international payment support, and support for physical products.
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 Gumroad
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
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Cons of Gumroad
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 Gumroad?
What is Stripe?
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What companies use Gumroad?
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What tools integrate with Gumroad?
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