Stripe vs TransferWise: What are the differences?
What is Stripe? Payments for developers. Stripe makes it easy for developers to accept credit cards on the web.
What is TransferWise? An online account that lets you send money, get paid, and spend money internationally. It bypasses pricey international payments entirely by using two local transfers instead of one international transaction. If you want to convert your pounds to euros, you send the money in pounds to its UK-based account.
Stripe and TransferWise can be primarily classified as "Payment Services" tools.
Some of the features offered by Stripe are:
- Full-stack payments- You don’t need a merchant account or gateway. Stripe handles everything, including storing cards, subscriptions, and direct payouts to your bank account. Stripe.js lets you build your own payment forms while still avoiding PCI requirements.
- An API that gets out of your way- It’s so easy, we’ve embedded a bunch of examples right here. Copy some of these requests into your terminal and check out what happens. With wrappers in Ruby, PHP, Python and more, you can get started in minutes.
- Pricing like it should be- 2.9% + 30 cents per successful charge. No setup fees, no monthly fees, no card storage fees, no hidden costs: you only get charged when you earn money.
On the other hand, TransferWise provides the following key features:
- Invite friends to TransferWise
- Send us verification documents
- Set up Amount Lock transfers on available currency routes
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What is Stripe?
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