Today, business takes place on a global scale with all transactions and purchases made possible online. To support this, many online payment gateways have been born, and you can choose which one suits the nature and activities of your business. In this article, we will introduce one of the most popular payment gateways today – Stripe and how to sign up for it.
About Stripe payment gateway
Stripe is a payment gateway originating from the US, considered the best online payment gateway for sales and e-commerce websites thanks to many preeminent features. The Stripe payment gateway processes hundreds of billions of dollars in transactions each year from businesses around the globe and executes many transactions daily from multiple countries. Although Stripe has been present in 46 countries, Stripe is currently not supported in the Vietnamese market. So, if you are a business in Vietnam that wants to do business internationally, integrating the Stripe payment gateway will make it easy for you to transact with international customers conveniently.
Stripe has the same payment policy and functionality as the Paypal payment gateway. That means Stripe accepts a wide range of cards, including MasterCard and Visa. Another advantage of Stripe that overcomes the limitations that Paypal often encounters is that sudden policy changes can be annoying for users.
Technically, Stripe provides an SDK that allows the application to work well on both iOS and Android operating systems, the two most popular platforms today. Stripe also provides APIs for programming languages like Java, Ruby, Python, GO, and more.
Features of Stripe . payment gateway
Stripe offers many features to facilitate transactions on business websites. The first is the main feature – Transaction (Payment). Unlike Paypal and 2Checkout, Stripe allows users to directly enter the card code to pay without having to switch to another page, saving time and making it more convenient. Users can pay directly on the merchant's website using a computer or mobile device. The Stripe payment gateway accepts a wide range of cards from both domestic and international, ensuring the security of transactions and supporting automatic conversion between currencies, simplifying the process for users.
Next is the Connect feature. This is a toolkit that helps Stripe automatically convert currencies, allowing multiple devices and platforms to connect to support business. Through this feature, the payment will be automated and the identity of the international seller will be rigorously verified.
In addition, the Atlas feature helps international businesses connect with banks and businesses in the US, making it convenient to open an account in the US. Legal issues will also be supported to help international companies join the startup network.
Finally, the Radar and Relay feature helps prevent fraud in e-commerce, ensures the safety of transactions and allows creating product catalogs on mobile devices, managing order information on any platform. platform easily for sellers.
Conditions to prepare to register for Stripe
To integrate the Stripe payment gateway into your sales website, there are a few important legal and policy conditions that need to be met. Here are the factors you need to keep in mind when signing up for Stripe.
EIN number:
An EIN, also known as a federal tax identification number, is a requirement after starting a business and wants to do business with American businesses and banks. To get an EIN, you need to contact the US Internal Revenue Service to get an application. The procedure after that is not too complicated, just fill in the required information correctly.
Personal identification documents
Previously, verification of name and nationality required you to have a passport. However, now you have an additional option of using a driver's license.
If you do not own both a passport and a driver's license, it is best to give priority to passport issuance. Passport jobs are quite affordable, although the waiting time can be long, about 30 days, but this Passport will be valid for 10 years. How to apply for Passport can look up information on Google.
One important thing to keep in mind when you have a passport is how to take pictures. To ensure a valid passport photo, you should take it at a 90-degree angle and clearly show the 4 edges of the passport and the background. Avoid using scanned copies of your passport, as this is not accepted.
In short, if you do not have a passport or driver's license, priority is to apply for Passport because it is affordable and has a long term. Also, be sure to take the correct passport photo to ensure smooth authentication.
Business registration in the US:
Registering a business in the US makes it easier for you to get an EIN. You can use the service to register or buy a business address in the US. Some online services support this, but need to research carefully before using. In addition, transshipment and warehousing services in the US - Vietnam are growing and can support your business operations.
Other information and banking in the US:
Make sure to have a business address and phone number in the US to communicate and work smoothly with the agencies here. For banking, you need to open an account at a bank in the US. Stripe is not available in Vietnam yet, so you can use an intermediary like Payoneer to link to a US bank or use an EIN number to register a bank account in the US, or you can sign up for supporting US banks. registered foreign sources such as Wise and Mercury.
Stripe registration website
To integrate the Stripe online payment gateway into your website, you first need a website to sell products. Stripe also aims to prevent phishing problems on the internet.
Building a website is not difficult, you can use platforms like WordPress or landing page creation services to create a website easily.
However, after building the website, keep the following points in mind:
- Choose 1st level domain: It is recommended to use a first-level domain name instead of using free domains. This helps your website look more professional and trustworthy.
- Logos: Make sure the site has a unique logo that represents your brand. Logos help build uniformity and recognition for your business.
- Business email: Use a professional email address created with your domain name. This helps increase professionalism and trust from customers.
- Contact page: Provide a contact page for customers to easily contact and ask questions about your product or service.
- Sales policy page: Make sure to have a clear sales policy page, helping customers understand the terms and conditions when buying on your website.
- Product page: Create a product page that contains detailed information about the products you are selling. Display clear images and descriptions to capture customer interest.
- SSL Certificate (https:): Make sure your website has an SSL certificate to protect your customers' personal information and transactions. SSL makes the website more secure and reliable.
How to sign up for the Stripe . payment gateway
Here's how you can easily sign up for Stripe:
Step 1: Visit the Stripe.com homepage and select “Sign Up” to start registering an account.
Registration will be much easier if you have all the necessary information on the drive. You should use the email domain name that matches the domain name of the company website you want to register to gain more credibility for your account.
For example, does your business have a website? abc.com then you should use email as owner@abc.com to sign up for a Stripe account.
Then Stripe will send a confirmation email to create an account to the email you just registered, you need to click on the verification link in that email.
Step 2: Fill in the necessary information Stripe asks about your business.
You need to provide the following information:
- Registered business address: You fill in your business address and select the country as the US.
- Type of Business: You choose Individual
Step 4: Fill in the requested business owner information, including:
- Legal name of person: Fill in your name according to the registered name EIN
- Date of Birth: Your date of birth
- Home Address: Your address, as shown on the document you used to sign up for Stripe.
- Social Security number (social security number): Use the requested EIN instead.
Step 5: Add business details to account activity.
Stripe will ask for the following information:
- Industry: The main line of business.
- Business website: Business website.
- Product description: Description of the product/service the business is providing (in English)
Step 6: Link a bank account with Stripe.
The information Stripe requires in this section is: Routing Number, Account number
You can use your pre-opened US banking information or use Payoneer, but using Payoneer the trust level will not be equal.
Banks in the US that are worth using for non-US residents are: Mercury and Wise.
Step 7: Complete two-factor authentication for security and submit your information to Stripe for review.
Conclude
Although registering and using Stripe still faces some difficulties for businesses in Vietnam, it is still a popular payment gateway when doing business internationally. Take advantage of Stripe to expand your business opportunities today.
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