20 Aug 2018

Digital Transactions

An overview for Small Businesses

When you need to have a website where you are selling products or you need to accept payments, there are several companies to choose from, depending on your specific needs. Each company has their own charging scale and methods, once again, specific to certain business transactional needs, and this may be an important factor depending on the frequency that you should receive payments for products are services.

To date, there is no such thing is a transaction service that is free. Through my research, I have included what each service charges, unless specified. The following list shows the user best-rated options.


Through PayPal, you’ll have the ability to place PayPal Checkout buttons on your website. This allows customers access to a PayPal gateway to buy an item from your site. Visitors are directed to a PayPal checkout page where they can use any number of payment methods to pay you. You can also create, send and receive payments for invoices with this service.

PayPal charges 2.9% plus 30 cents per transaction. Rates decline with higher sales volume. Rates also go down if you use the PayPal Here credit card reader.


Square is PayPal’s chief competitor at the moment and offers transaction rates to rival the industry leader. Square offers you a free online store site where you can list and sell your items and services. Items can be embedded onto your own website. These embeds act as the gateway for your customers to complete their transactions. Square also allows you the ability to send and receive payments on invoices. And the company offers a credit card reader for accepting payments in-person from customers.

You’ll be charged a 2.75% fee on every transaction conducted online using Square or with its card reader.


It was Stripe’s goal when it redesigned its Checkout platform not to get between you and your customers. Stripe’s Checkout codes were designed to keep your customers on your website, not redirect them to its own site to complete a sale. Once Stripe payment forms are embedded onto your company’s website, you can begin accepting digital payments from your customers. Stripe works across multiple devices with no extra work on your part.

There is a 2.9% plus 30 cent charge on every transaction completed with Stripe.