Stripe Overview: How It Works, Features and Reviews
Everything you need to know about using Stripe as an Indian business, how it works, what international card payments actually cost you, where it falls short on compliance like FIRA, and why B2B wire receivables are a challenge. Plus a straight comparison against Skydo's flat fee pricing so you can decide what works best for your business.
What Is Stripe?
Stripe is a US-based fintech founded in 2010 by the Collison brothers. It powers payments for millions of businesses globally and is widely considered the best developer-first payment platform.
For Indian businesses, Stripe is currently invite-only and is primarily used to accept card payments online from international customers, perfect for SaaS, subscriptions, and online checkout.
It's most commonly used by Indian SaaS companies, online businesses, and developers who want a powerful payment API.
How Does Stripe Work in India?
Stripe in India is a developer-first payments platform, available on an invite-only basis. Once you're in, you get access to a powerful SDK that supports multiple payment methods and integrates cleanly into your product.
Card payments are settled to your Indian bank account in INR after currency conversion, typically within 2-5 days. The window is longer than wire-based platforms because Stripe holds a buffer for potential chargebacks and risk review.
Where Stripe falls short for Indian exporters is on compliance. FIRA is not provided directly by Stripe. You have to go back to your bank, request it separately, and pay a fee for it. eBRC is not automated either. Unlike platforms built specifically for Indian export payments, compliance here is largely something you have to figure out on your own.
Stripe Key Features
Stripe is a top-tier developer platform. Here are the features Indian SaaS founders care about most.
Stripe Elements / Checkout
Pre-built card forms or hosted checkout, fully customisable.
Subscriptions & billing
Recurring billing, plans, trials, proration, dunning, invoices.
Stripe Connect
Build marketplaces with multi-party payments and automated payouts.
3D Secure & SCA
Built-in compliance with strong customer authentication globally.
Stripe Radar
Machine-learning fraud detection on every payment.
Tax & invoicing
Stripe Tax handles global tax calculation and invoice generation.
Powerful APIs / SDKs
Best-in-class developer experience, libraries in every language.
International cards
Accept Visa, Mastercard, Amex, JCB, and many local cards.
Real-time dashboards
Granular reporting, exports, webhook events for every action.
Stripe Pricing and Fees
Stripe's headline rate is 4.3% for international cards plus 2% currency conversion. Effective cost on a typical international invoice is 6%+.
Stripe is excellent for B2C card checkout. For B2B wire-paying clients, fees compound — Skydo charges a flat $19/$29 with zero FX markup on those.
Stripe Pros and Cons
- Best-in-class developer platform with powerful APIs.
- Pre-built checkout, subscriptions, and tax tools.
- Stripe Radar fraud protection on every payment.
- Stripe Connect for marketplaces and split payments.
- Strong global card acceptance.
- Real-time dashboards and webhook events.
- Transparent fee structure on the headline rate.
- Excellent documentation and developer community.
- 4.3% + 2% FX = ~6% effective cost on international cards.
- Settlement takes 2-5 days for international cards.
- No FIRA provided directly; relies on partner-bank workflow.
- No automated eBRC for Indian exporters.
- No India-specific GST invoicing.
- Card-only — no wire transfer rails for B2B.
- India dashboard / reporting is basic compared to global product.
- Support is mainly email and docs; no India-based team.
Stripe for Indian Businesses
Stripe is great for some workflows and a poor fit for others.
When Stripe makes sense. You sell SaaS or online goods with card checkout. You need recurring billing and subscriptions. You build marketplaces requiring split payments. You want a top-tier developer platform with deep APIs.
When Stripe stops being worth it. Your B2B clients pay via wire transfer (where Stripe charges full card rates and FX). You need FIRA, eBRC, GST invoicing. You receive $5K+ invoices regularly. This is where Skydo wins on cost and India compliance.
Stripe User Reviews: What Customers Say
Quotes paraphrased from public G2, Trustpilot, and Reddit threads from Indian Stripe users.
"Stripe's developer platform is the best in class. But for B2B wire receivables we use Skydo to save on fees."
"Stripe Connect is brilliant for marketplaces. The FX cost on international cards adds up though."
"Stripe billing handles subscriptions perfectly. For wires from enterprise clients, we ask them to pay through Skydo."
"6%+ effective cost on cross-border cards is real. We moved B2B wire clients off Stripe to save."
"Stripe is great if your buyers pay by card. For wire-paying clients, the math is brutal at scale."
"Best developer experience hands down. Just understand Stripe is a card platform, not a B2B receivables tool."
Reviews paraphrased from publicly available sources. They reflect individual experiences, not Skydo's endorsement.
How Does Skydo Compare to Stripe?
Here is a straight side-by-side comparison across pricing, compliance, and payment experience.
| Feature | stripe | |
|---|---|---|
| Best for | Online card checkout, subscriptions | B2B wire receivables, exports |
| International card fee | 4.3% | N/A (2% flat InstaLinks) |
| Wire transfer rails | × | ✓ ACH, SEPA, Faster Payments |
| Forex markup | ~2% | Zero. Live mid-market rate. |
| FIRA | Not direct; partner-bank workflow | Free, instant, per transaction |
| eBRC for Amazon sellers | × | ✓ Automated |
| Settlement time | 2-5 days | Within 24 hours |
| India-based support | × | ✓ |
| RBI authorisation | Partner bank arrangements | Full PA-CB licence |
| Developer APIs | ✓ Best-in-class | ✓ Available, less extensive |
Frequently Asked Questions About Stripe
Is Stripe available for businesses in India?+
How much does Stripe charge in India?+
Does Stripe provide FIRA?+
Can I hold USD in my Stripe account in India?+
Should I replace Stripe with Skydo?+
Does Stripe support international card payments to India?+
Is Stripe RBI authorized?+
What is the best Stripe alternative for B2B exporters?+
Stop Losing 6%+ on Every Stripe Payment
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- Real time payment tracking and instant FIRA