Stripe basics for business owners
What Stripe is, how it works, what you can do with it, and whether it is the right payment processor for your business.
Stripe is one of the most widely used payment processors in the world. If you are building or running an online store, there is a good chance your developer has mentioned it. This guide explains what Stripe is and what it means for your day-to-day business.
Quick summary
Stripe is an all-in-one payment processor that lets your website accept credit cards, debit cards, and digital wallets. It handles everything from the checkout form to the payout to your bank. There are no monthly fees — you pay a small percentage per transaction.
What Stripe does
Stripe sits between your website and your customer's bank. When a customer checks out, Stripe:
- Securely collects the card details
- Requests authorization from the card network (Visa, Mastercard, etc.)
- Holds the funds
- Pays you out to your bank account, minus its fee
Your customers never go to a separate Stripe page. They stay on your website throughout. This creates a smooth, professional checkout experience.
What you can do with Stripe
Beyond basic card processing, Stripe supports:
- One-time payments — standard checkout for products and services
- Recurring billing — subscriptions charged automatically on a schedule
- Invoicing — send a payment link by email with a professional invoice
- Digital wallets — Apple Pay, Google Pay, and more
- Buy now, pay later — installment payment options (availability varies)
- International currencies — accept payments from customers around the world
- Saved cards — customers can store a card for faster repeat checkout
The Stripe dashboard
Once Stripe is connected to your site, you get access to the Stripe Dashboard — a website at dashboard.stripe.com. From there you can:
- See all recent payments and their status
- Issue refunds
- Track your upcoming payouts
- Download reports and tax documents
- Manage customer subscriptions (if you have recurring billing)
- View and respond to disputes
You do not need to log in regularly, but it is useful to know it is there, especially when you want to issue a refund or check on a payment.
Stripe fees
Stripe charges a fee on each successful transaction. There is no monthly fee to use Stripe. See Stripe payouts & fees explained for the current rate and a full breakdown.
Fees are deducted automatically
Stripe does not invoice you for fees. Instead, it deducts them from each payout. The amount that arrives in your bank is already net of fees.
How payouts work
Stripe collects your revenue and pays it out to your linked bank account on a rolling schedule. By default, payouts are sent every two business days in the US. The money appears in your bank one to two days after Stripe initiates the transfer.
See Stripe payouts & fees explained for more detail on payout timing and how to read your payout history.
Is Stripe right for you?
Stripe is a strong choice for most online businesses. It works particularly well if:
- You are running an online store (WooCommerce, Webflow, Squarespace Commerce, etc.)
- You want a clean, on-site checkout experience
- You need recurring billing or subscriptions
- You sell internationally
Stripe may not be the best fit if:
- Your customers strongly prefer PayPal (consider adding both)
- Your business type is restricted by Stripe (check their Restricted Businesses list)
- You are still a sole trader without a business bank account (you may need to complete additional verification)
Giving Chykalophia access to your Stripe account
If Chykalophia is setting up or maintaining your payment integration, we will need access to your Stripe account. See Give us access to your Stripe account for instructions.
Common questions
Related guides
- What we need to set up Stripe
- Stripe payouts & fees explained
- PayPal vs Stripe
- How online payments work
- Give us access to your Stripe account
Need a hand?
Learn more
Payment processors explained
What a payment processor does, how it differs from a payment gateway, and how to choose the right one for your business.
What we need to set up Stripe
A complete checklist of information and access Chykalophia needs from you to connect Stripe to your website and get payments flowing.