Which merchant should I choose: Stripe or PayPal?
In order to choose the right merchant for your event you need to consider the pros and cons of both Stripe and PayPal. The information below pertains to how Ticketstripe is integrated with Stripe and PayPal.
- Stripe allows you to pass on credit card processing fees to the ticket buyer.
- Stripe’s credit card processing fees are 2.9% + $.30 cents per transaction (cheaper than PayPal).
- Stripe allows Ticketstripe’s service fees to be automatically deducted from every order, which:
- eliminates the hassle of invoices
- enables you to receive the full value of your ticket price
- Stripe funds your account after every sale. Payouts depend on your account settings. Check Stripe’s payout information for more details
- Stripe enables you to sell tickets and merchandise on location with our Box Office mobile app.
- Give your customers the option to buy now and pay over time with Klarna.
If you or your organization already has a Stripe account that should be your merchant of choice. If you do not have a Stripe account, you can sign up for a Stripe account via Ticketstripe’s dashboard OR directly at Stripe.com.
Stripe saves event organizers time and money, making it the preferred merchant for ticket sales online.
Many event organizers choose to sell tickets to events with PayPal because they have an existing PayPal account. However, it’s important you understand how this will affect your event:
- PayPal does NOT allow you to pass on credit card processing fees to ticket buyers. PayPal deducts their merchant fee from every order, which comes out of your proceeds.
- PayPal’s credit card processing fees are from 2.99% to 3.49% + $.49 cents per transaction (which is more expensive than Stripe).
- PayPal does NOT allow Ticketstripe to deduct our service fees automatically at checkout. If you pass on service fees to your ticket buyers, those fees will be paid by your buyers on top of the ticket value and deposited into your PayPal account. Ticketstripe invoices twice a month to collect the service fees you received or that you chose to absorb.
- PayPal frequently holds funds until after the event or until proof of ticket receipt is provided.
- At checkout, PayPal will try to get your customers to sign up for a PayPal account, which creates a LOT of confusion.
- PayPal frequently restricts new accounts which interrupts your ticket sales temporarily.
Ready to switch to Stripe? This article will show you exactly what to do.