Stripe Overview

Mindflow integrated Stripe to enable users to automate their incident management and better protect their information systems.

What is Stripe?

Stripe is a payment services company that allows retailers to accept credit and debit cards and other forms of payment. Some of the world’s major corporations, including Amazon and Shopify, use it.

Stripe payments are best suited for business owners who conduct most of their transactions online. Its distinctive features — such as its open application programming interface and ability to accept more than 135 currencies — are crucial to online sales.

Stripe Features

Customer interfaces – Create the ideal checkout experience that works on all browsers and devices. Choose from various integration options to find the one that’s ideal for you.

Payment options – Expand your business, go global, and increase conversions in other countries by providing your clients with their chosen payment alternatives via a unified connection. Discover and choose the best payment methods to reach a larger audience.

Mobile support – Accept payments using your iOS, Android, or mobile website. Stripe’s mobile SDKs let you start with just a few lines of code and no backend changes.

Process payments – Whether you’re looking to accept one-time payments, set up subscriptions, or power payments for a platform or marketplace, Stripe has you covered.

Reconciliation – Simplify and speed transaction reconciliation and recognition. Access financial and accounting reports automatically right out of the box.

Payouts – Once a transaction has settled, you may quickly get paid via our API or Dashboard.

Insights and reporting – In the Stripe Dashboard, you can view all charges across different payment kinds, countries, and currencies, or you can extract the data straight from the API.

Commercial operations – With confidence, let other team members access your Stripe account. Each user is given an account with fine-grained access control and visibility.

How do Stripe payments work?

Stripe manages the six steps between a consumer entering their credit card information and discovering that their payment was accepted.

1. The customer enters their credit card details online or in person.
2. These card details are sent to Stripe’s payment gateway, which encrypts the information.
   
   
3. Stripe provides such information to the acquirer, which is a bank that will process the transaction on behalf of the merchant. It acts as the merchant in this phase (with the business owner as a sub-merchant). This eliminates the need for users to set up a merchant account, which can be time-consuming.
   
   
4. The payment is sent to the cardholder’s issuing bank via a credit card network such as Visa or Mastercard.
   
   
5. The transaction is approved or denied by the issuing bank.
   
   
6. That signal proceeds from the issuing bank to the acquirer via the card network, then to the customer via the gateway, who sees a message indicating whether the payment was accepted or denied.

Integrated with Mindflow – 

With our no-code approach, it can massively boost your payments infrastructure. With Mindflow’s flows, you can orchestrate APIs to accept payments, send payments, etc. You can transform information, automatically report and triggers, automate payments and collections, and much more.

Benefits of Stripe –

Ease of use – It is intuitive and easy to set up for online businesses; they also have clean backend portals and reporting dashboards to make decisions. Moreover, it allows users to make transactions in a clean and simple-to-use interface.

Diverse support – It supports a variety of payment methods and currencies, allowing your customers to make transactions in the form of their choice effortlessly.

Customizable and Customer Support – It is very customizable, can be curated precisely according to your enterprise’s specific use cases, and has robust 24/7 customer support for setup and any other issues accessible via the phone, email, and chat.