In 2021 there are a few online payment processing options from which to choose, but today we will be focusing on the differences between More Payments, Stripe, and PayPal.

All three are suitable choices for online businesses, and while PayPal and Stripe are more widely recognized brands, More Payments actually comes out in front thanks to its substantially lower transaction fees.

 MORE PAYMENTSSTRIPEPAYPAL
Ideal ForOnline businesses seeking a sophisticated, secure and affordable option to accept online paymentsIdeal For Online businesses seeking a sophisticated, secure and affordable option to accept online payments Online businesses, businesses seeking a customizable platform, international commerce, fraud prevention Online businesses, businesses that want to accept PayPal transactions, low-volume businesses, international commerceOnline businesses, businesses that want to accept PayPal transactions, low-volume businesses, international commerce
Online Transaction Pricing1.5% + $0.15 per transaction gateway fee. Customised rates available for businesses transacting more than $100k per month1.75% + $0.30 for domestic cards & 2.9% + $0.30 for international cards1.75% + $0.30 per transaction for domestic card and 3.60% + $0.30 per transaction (depending on your plan & other factors)
Supported Payment MethodsVisa, Mastercard, Unionpay, AMEX, WeChat, Alipay, PayPal, Afterpay, ZipVisa, MasterCard, Maestro, JCB, AMEX, UnionPayVisa, Mastercard, Discover, AMEX
Standout FeaturesNo lock in contract, 24/7 support, no setup fees, low transaction fees, China specific payment types available.Top-of-the-line developer support, advanced (optional) security tools, strong support for multiple currenciesStandout Features No lock in contract, 24/7 support, no setup fees, low transaction fees, China specific payment types available. Top-of-the-line developer support, advanced (optional) security tools, strong support for multiple currencies Enormous proprietary ecosystem, easy to use, strong international support
What’s Missing?No recurring payment optionsMore support for POS; bundled packages to cut down on transaction costs for advanced featuresWhat’s Missing? No recurring payment options
More support for POS; bundled packages to cut down on transaction costs for advanced features Competitive pricing

Paypal is a household name, which over its lifespan has developed a large portfolio of interconnected products, including financing services.

Stripe has gained some pretty big brand recognition despite it being younger than PayPal, but unlike Paypal with its multiple products, Stripe focuses mainly on online payments.

More Payments is the up-and-coming company in this space; along with its extremely secure online payment solutions, it also offers multi-channel payment solutions, including in-store, online and mobile payments.

So which of the three has the advantage when it comes to online payments?

Stripe vs PayPal vs More Payments: Quick Comparison

All three companies are online credit card processors with a primary focus on ecommerce. While PayPal and Stripe are both well-known names, More Payments stands out for its cheaper transaction fees and multi-channel payment solutions.

Stripe at a Glance

Stripe is almost entirely focused on eCommerce. Its third party payment gateway offers powerful developer tools for integrating its payment features into shopping carts or ecommerce sites. 

PayPal at a Glance

PayPal is easily the biggest brand in ecommerce, with services ranging from digital wallets to loans. It’s known for being relatively user friendly, but has an expensive flat rate pricing for eCommerce when compared to its competitors.

More Payments at a Glance

More Payments has a product that can easily compete with the better known companies despite its more recent entry into this market. Powered by Till, More Payment’s third party payment gateway integration can be effortless for sites using WordPress/WooCommerce, Magento 2, Prestashop or Opencart. But More Payments’ solution is also perfect for developers and can be highly customized for complex & custom sites.

The Key Differences Between Stripe, PayPal & More Payments.

Each of the three companies have some similarities, but the key differences are:

  1. Cost per transaction: More Payments is far cheaper than both PayPal and Stripe.
  2. Ease of Use: PayPal and More Payments are both easy to integrate into sites running the main ecommerce platforms.
  3. Customizability: If you are a developer, Stripe and More Payments win when it comes to customisation.
  4. In Store Payments: More Payments are the clear winners here with a versatile EFTPOS offering. Stripe are due to release a basic card reader which would be suitable for small or micro business. PayPal has just discontinued its card reader, which means it no longer supports in-store payments for small businesses.

Which Payment Processor Is Best For My Business Needs?

Here is our breakdown analysis of which processor would be better for you:

Choose Stripe if….

  • You own a business with complex and specific eCommerce needs
  • You have an in-house development team or are a developer yourself

Choose PayPal if….

  • You want an easy-to-use solution for your eCommerce needs
  • You want to make use of PayPal’s digital wallet ecosystem

Choose More Payments if….

  • You want lower transaction fees than both Stripe and PayPal
  • You own a business with complex and specific eCommerce needs
  • You have an in-house development team or are a developer yourself
  • You want an easy-to-use solution for your eCommerce needs
  • You require specific payment methods including WeChat and Alipay

More Payments VS Stripe VS PayPal Fees

 MORE PAYMENTSSTRIPEPAYPAL
Ideal ForOnline businesses seeking a sophisticated, secure and affordable option to accept online paymentsIdeal For Online businesses seeking a sophisticated, secure and affordable option to accept online payments Online businesses, businesses seeking a customizable platform, international commerce, fraud prevention Online businesses, businesses that want to accept PayPal transactions, low-volume businesses, international commerceOnline businesses, businesses that want to accept PayPal transactions, low-volume businesses, international commerce
Online Transaction Pricing1.5% + $0.15 per transaction gateway fee. Customised rates available for businesses transacting more than $100k per month1.75% + $0.30 for domestic cards & 2.9% + $0.30 for international cards1.75% + $0.30 per transaction for domestic card and 3.60% + $0.30 per transaction (depending on your plan & other factors)
Supported Payment MethodsVisa, Mastercard, Unionpay, AMEX, WeChat, Alipay, PayPal, Afterpay, ZipVisa, MasterCard, Maestro, JCB, AMEX, UnionPayVisa, Mastercard, Discover, AMEX
Standout FeaturesNo lock in contract, 24/7 support, no setup fees, low transaction fees, China specific payment types available.Top-of-the-line developer support, advanced (optional) security tools, strong support for multiple currenciesStandout Features No lock in contract, 24/7 support, no setup fees, low transaction fees, China specific payment types available. Top-of-the-line developer support, advanced (optional) security tools, strong support for multiple currencies Enormous proprietary ecosystem, easy to use, strong international support
What’s Missing?No recurring payment optionsMore support for POS; bundled packages to cut down on transaction costs for advanced featuresWhat’s Missing? No recurring payment options
More support for POS; bundled packages to cut down on transaction costs for advanced features Competitive pricing

Which Is Cheaper, Stripe, PayPal or More Payments?

All three of the processors have simple flat-rate pricing. However, More Payments is the cheapest when comparing transaction fees, in addition to this they have less added fees.

Comparing Stripe VS PayPal VS More Payments: Final Verdict

At the end of the day, unless there is a specific product that you require from a PayPal or Stripe portfolio, More Payments is a great choice for your online payments needs.

Its advanced Payment Gateway allows businesses to process online payments and makes it easier and more secure to facilitate payments from any customer anywhere in the world. For merchants using popular eCommerce platforms there are simple plugin’s available with More Payments, which means no time-consuming or costly development requirements. This also means you can literally setup the Gateway for your online business in a matter of minutes. The platforms available right now for easy integration include WordPress/WooCommerce, PrestaShop, Magento 2, and OpenCart. For custom built websites or other eCommerce platforms an API integration is available.

With the More Payments Gateway the entire customer payment journey is managed directly on the business website, offering a seamless and secure solution for its customers. The accepted Payment types for online payments via the Gateway competes with any other major player and includes Visa, Mastercard, AMEX, UnionPay, Diners, WeChat, Alipay, PayPal. The More Payments ecommerce platform also provides a single integration API into over 150 countries supporting 350 financial connectors.

Other Key Features

More Payments offers no lock in contracts, 24/7 support, and funding is received the next business day. Same day funding is available at an additional 0.10% processing fee. A merchant portal is accessible for full real-time daily, weekly and monthly reporting. More Payments can also offer multi-channel payment solutions across online, instore and mobile.

Application Process

The application process for More Payments’ Online Gateway is simple, with the entire process being completed online within five minutes. Usually, you can have everything setup within seven business days.

Fees:

  • 1.5% + $0.15 per transaction gateway fee
  • $0 monthly fee
  • No setup or early termination fees
  • Customised pricing is offered for businesses with higher turnovers

Visit More Payments here to find out more or to start the application process.