Online Payment Processing services and providers

Updated: June 03, 2019

2018. Braintree launches Stripe competitor - Extend



Braintree, the division of PayPal that provides payment services to e-commerce and other online businesses, is making its latest move to help raise its game against competitors like Stripe. It is launching a new solution called Extend, a set of tools to integrate Braintree payments more closely and easily with other services that online companies are using alongside basic transactions. Extend includes integrating loyalty and reward schemes, adding fraud prevention and ‘contextual commerce’ — or the ability for a merchant to sell an item and take payment on a platform that is not its own. Some of the services, such as the contextual commerce option, were already being offered — this is what is used to power Pinterest’s buyable pins, for example.


2015. Payment processing company Stripe partners with Visa



Payment processing company Stripe is now valued at $5 billion following its latest round of financing. Besides, the company raised almost $100 million and inked a deal with Visa which will see the duo work together on a range of projects, including digital transactions and security. The company has been focused on growing its international footprint for some time, which is another reason it is teaming up with Visa. CEO and co-founder Patrick Collison told The New York Times that Stripe will lean on the payment giant’s international presence and know-how to expand its current coverage of 20 countries.


2015. Square launched a dashboard app for iOS



Mobile payment processing service Square has released its second non-consumer app, a dashboard app for iOS that lets business owners track sales in real-time and allows them to dig into the health of their business with analytics. This app isn’t for the barista at the coffee shop, but it was built for the owner who might be watching over things while they’re not at the shop. With this app, business owners can track how many items are left in stock in multiple locations, for example, which can help them make important decisions on the fly without having to sit down at a computer.


2014. Stripe - the new king of online payment processing



Stripe, the ultra-hot payments processing service, has raised $70 million in funding at a $3.5 billion valuation. And this valuation has doubled in less than a year. Stripe was founded in 2010 with the goal of making it easier for businesses to process payments online. Now it helps power commerce services from big names in tech like Twitter and Apple. And it Stripe will power Facebook’s Buy button. "The vast majority of online transactions when we started were processed by this legacy infrastructure of banks and merchants," - says Stripe founder, Patrick Collison announced its previous funding round. "We don't really see anybody else approaching the problem the way that we do and thinking about building the platform of internet commerce."


2014. Global payment processing provider BlueSnap raises $50 million



Global payment services provider BlueSnap has raised $50 million to drive the adoption of new types of processing technologies. BlueSnap started out in Israel as Plimus and allowed merchants the opportunity to sell their digital goods globally online without the normal hassles caused by selling from one international market to another. Then the company was acquired by Boston private equity firm Great Hill Partners in 2011 and rebranded as BlueSnap. The company already operates in 180 countries that speak 29 different languages and process payments across 110 different types of platforms in 60 different currencies. Competitors include payment processing companies like Adyen, Braintree , and the upstart Credorax, which just raised a $40 million round of financing less than a month ago.


2014. WePay launches payment processing API to compete with Stripe


WePay the service providing payment processing marketplaces, crowdfunding platforms and other sites that enable online transactions between third-party buyers and sellers — is taking on another payments juggernaut, Stripe, with the launch of a new product. WePay Clear is a white-label, API-based service that works similar to Stripe that also offers a no-fraud guarantee. WePay Clear works both on desktop web and mobile apps and is already live in the U.S. with launch partner for WePay Clear is Freshbooks.  WePay Clear is charged at a flat rate that mirrors Stripe’s — 2.9% + $0.30 per transaction, although the company will modify those rates on a case-by-case basis depending on the partner.


2014. BitPay makes bitcoin payment processing free



BitPay, the pioneer in BitCoin payment processing is dropping the 1 percent transaction fee on all starter plans. That means merchants who sign up for the starter plan get access to the BitPay API, app and plugins for free, with no transaction costs and no limit on how many (or the amount) of transactions on the plan. The paid plans include things like 24/7 phone support, personal account managers and Quickbooks integration. BitPay's main rival, Coinbase, that processes payments for companies like Expedia and Dell, has a different pricing plan. It charges a one percent fee to cash out bitcoin to a bank account, but only after the first $1,000,000 in sales.