Mastering Stripe: A Beginner’s Guide to Online Payments

If you’re looking for an efficient way to collect payments online without any initial investment, Stripe stands out as an excellent choice. This guide will walk you through setting up a new Stripe account and starting to receive online payments seamlessly.

[0:06.940] [Stripe dashboard showing how to create a checkout page in a few clicks.]

Stripe is a powerful payment service provider designed to empower a wide range of users. Whether you’re running a business, managing a non-profit organization, or operating as an individual, Stripe provides the tools to accept debit and credit card payments with ease.

[0:15.010] [Stripe product catalog with an overlay indicating it’s for Businesses, Non-Profits, and Individuals.]

One of Stripe’s key advantages is its versatility. It can be integrated into virtually any website, including popular platforms like WordPress, Wix, and Shopify, making it a flexible solution for your online payment needs.

[0:21.820] [Stripe dashboard overview with logos for WordPress, Wix, and Shopify.]

Getting Your Stripe Account Ready

[0:27.107] [Stripe homepage with the headline “Financial infrastructure to grow your revenue.”]

The first step is creating a Stripe account, which is completely free. Simply head over to stripe.com to begin.

[0:34.807] [Stripe’s business verification form, “Let’s start with your business type.”]

Once you log in, Stripe will guide you through the setup process. You’ll need to provide essential business details, including your bank information for payouts and documents to verify your identity. This verification is a crucial step that helps Stripe ensure all transactions are secure.

Your First Payment: Creating a Payment Link

[0:48.337] [Stripe dashboard with the “Payment Links” section highlighted.]

With your account set up, you’re ready to collect your first payment. The simplest method is by creating a payment link. This feature generates a shareable link that directs customers to a payment page for a specific product, service, or subscription, without needing a full product portfolio.

[0:55.227] [The “Create a payment link” interface in Stripe.]

Start by adding your product. For instance, if you’re selling a “Lilac Candle - Spring Collection,” you’ll enter that as the product name.

[1:12.797] [The “Add a product” modal in Stripe, showing fields for name, description, and image.]

You can enhance the payment page by adding a detailed product description and an image for each item.

[1:27.187] [“More options” section in the “Add a product” modal, showing tax settings.]

Next, you’ll handle more complex details like taxes.

[1:33.647] [Stripe’s main tax settings page for business information and product prices.]

Tax information varies widely based on your location and what you’re selling. You can configure your default tax settings within your business settings to ensure accurate collection.

[1:47.887] [Setting the payment amount for a product in the Stripe modal.]

After setting up taxes, choose whether the payment is a one-off or recurring transaction, and then enter the amount.

[1:54.407] [Stripe’s adaptive pricing and unit quantity options for a product.]

Stripe’s Adaptive Pricing automatically adjusts the price to the customer’s local currency, providing a better user experience. Once you’ve set the unit quantity and reviewed the details, click “Add product.”

[2:06.397] [Payment link creation page after a product has been added, showing options to add more products or collect customer info.]

You have the flexibility to add more products to the same payment link or collect additional customer information, such as an address or phone number, which is useful for building a lead list. The preview on the right shows you exactly what the customer will see.

[2:27.527] [The “After payment” tab for customizing the confirmation page.]

You can also customize the confirmation page that customers see after a successful payment. Once you’re satisfied with the setup, click “Create link.”

Sharing Your Payment Link

[2:39.117] [The generated payment link with options to copy, get a buy button, or create a QR code.]

Now that your link is ready, you can copy it to share in emails, on social media, or anywhere else you connect with customers.

[2:52.027] [HTML code for embedding a Stripe Buy Button on a website.]

For website integration, you can create a “Buy button” and embed it directly onto your site using the provided code snippet.

<script async 
    src="https://js.stripe.com/v3/buy-button.js">
</script>

<stripe-buy-button
    buy-button-id="buy_btn_1P3RFPPAlQglJSj9f2ye7LACKT"
    publishable-key="pk_test_510..."
>
</stripe-buy-button>

[2:55.937] [A QR code generated for a Stripe payment link.]

Stripe also offers the ability to generate a QR code at no extra cost. This is perfect for in-person sales, like at a market or street fair, allowing customers to scan and pay instantly with their phones.

Understanding Stripe’s Pricing and Dashboard

[3:34.407] [Stripe dashboard illustrating a successful payment and the resulting USD balance.]

Stripe’s pricing is straightforward. There are no monthly or annual fees. Instead, all fees are per-transaction. For online sales, the cost is 2.9% + 30 cents per transaction. For example, on a $12.00 sale, you would receive $11.35.

[3:40.897] [A populated Stripe dashboard showing an overview of payments, balance, and payouts.]

Your Stripe dashboard gives you a complete overview of your finances. Payouts are typically sent to your bank account within 24-48 hours. You can also track upcoming payouts, use the instant payouts feature, and monitor any failed transactions to take appropriate action.

Building and Managing Your Product Catalog

[4:13.387] [The Product Catalog page in the Stripe dashboard.]

If your business offers multiple products or services, you’ll want to build a product catalog. This centralizes all your items for easy management.

[4:24.477] [“Add a product” modal for adding new items to the product catalog.]

Adding products to the catalog follows the same process as creating a single item for a payment link. While Stripe doesn’t have a bulk CSV upload feature, there are other ways to manage large inventories.

[4:37.337] [Stripe Connect information page for API integration.]

For developers or businesses with technical resources, Stripe Connect allows you to use the API for bulk product uploads. You can contact the sales team directly for assistance with this.

[4:47.467] [Zapier’s integration page showing various “zaps” for connecting Stripe with other apps.]

Alternatively, third-party automation tools like Zapier can sync your product catalog from platforms such as HubSpot, Shopify, or Salesforce, saving you a significant amount of time.

[5:12.447] [A populated product catalog in Stripe with options to export prices and products.]

Once your catalog is populated, you can easily edit products, view detailed sales information, or export your product data as a .csv file.

Invoicing and Customization

[5:51.527] [The Invoices section of the Stripe dashboard.]

Creating and sending an invoice is another core feature. The process is similar to creating a payment link.

[6:17.387] [The invoice creation page showing added line items.]

You’ll start by selecting a customer, confirming the currency, and adding items from your product catalog or as new line items.

[6:28.187] [Payment collection settings for a Stripe invoice, including due date and payment methods.]

Next, confirm the payment details. You can set a due date, schedule the send date for future invoicing, and select which payment methods to accept. If the customer has a payment method on file, you can even auto-charge them.

[7:21.037] [Additional options for customizing a Stripe invoice.]

Stripe offers extensive customization options for your invoices. You can add a personal touch by including a memo, a footer, or custom fields. You can also create and use invoice templates to automate this process for future invoices.

[8:03.957] [The branding settings page in Stripe for customizing icons, logos, and colors.]

To maintain a consistent look, use the branding settings to add your company’s icon, logo, and brand colors. These elements will appear across all your Stripe-hosted pages, including invoices, receipts, and the customer portal, creating a streamlined and professional aesthetic.

[8:32.197] [Sending a finalized invoice in Stripe.]

Once you’re happy with the final invoice, you can send it directly to your customer.

[8:43.917] [A sent invoice’s detail page, showing recent activity and summary.]

After sending, you can track the invoice’s activity, add internal notes, and download a PDF copy for your records, all from the invoice details page.

Advanced Features and Mobile Management

[8:58.743] [The Reports section in Stripe for tracking money movement and automating accounting.]

From basic tools to advanced solutions, Stripe provides options for everyone. The platform also includes powerful reporting features to help you track money movement and automate your accounting.

[9:03.963] [Stripe’s intuitive mobile app for managing payments on the go.]

Finally, don’t forget to use Stripe’s intuitive mobile app. It allows you to track sales, create payment links, add customers, and manage your entire product catalog right from your phone, giving you the power to manage your business from anywhere.