Stripe vs. Sila: Choosing Your Payment Partner

Stripe vs. Sila Choosing Your Payment Partner

If you have a good business idea that involves sending money through the Automated Clearing House (ACH) system or the blockchain network, you’ve likely come across the menagerie of payment vendors you can choose from. 

Entrepreneurs and business owners looking to include a payment option in their business are finding it increasingly difficult to get a payment vendor who works for them and supports their great idea. Luckily, more and more fintech companies are emerging that offer clients more features than ever before while maintaining the security and ease that should come with online banking services. 

Many business owners have turned to companies like Stripe for point-of-sale (POS) and online payment processing. There are other options as well, such as choosing a fintech powerhouse like Sila. You might use Stripe and Sila for completely different business ideas or the same one. It’s all about the versatility of the product and why you need it. 

To help you decide, this article will compare Stripe vs. Sila. 

What do Payment Processing Platforms Offer?

A payment processing platform is a solution, service, or company that provides online payment processing for businesses. Largely this service is useful for internet businesses, but it can also be used on a mobile app for payments in person some of the time. 

When it comes to payment processing platforms, recognize that if you use them to process your business’ payments, then you most likely need to agree to their Terms and Conditions and the fees and scheduling that they use. So if you want to be able to receive ACH debits, bill pay, or credit cards, then there will be a list of fees associated with each one, along with processes to abide by. 

Nonetheless, payment processing platforms do provide payment infrastructure for all kinds of businesses. Usually, the product comes in the form of an API, pre-built and branded app, or web integration, thereby allowing customers the option of clicking through and paying in several ways. 

Here’s What Stripe Offers

Stripe provides payments infrastructure to businesses of all sizes. Through Stripe’s software and APIs, businesses can send money, accept payments, and manage their business’ financials online. 

Stripe boasts of a “fully integrated suite of payments products,” which can be used for both online and in-person retailers. Stripe can also be used for subscription-based services, software platforms (SaaS), marketplaces, and more. 

Stripe’s core services lie in its payments API. This API, which is designed for developer ease-of-use, can be easily adapted for your company and integrated into your website, app, and eCommerce platforms like Shopify, NetSuite, and WooCommerce. 

With this payments API, users can:

  • Accept payments
  • Issue refunds
  • Monitor sales revenue
  • View analytics for business operations
  • Handle disputes
  • Generate reports
  • Issue cards
  • Issue corporate cards
  • Move money easily
  • Invoice
  • Billing (subscriptions and recurring payments)
  • Terminal or point-of-sale transactions
  • And more

Extra perks include:

  • Fraud features
  • Virtual cards
  • Physical cards
  • Available financing
  • Business spend management

Stripe’s products differ through direct payment options, multiparty payments, business operations, prebuilt components (like the UI components), and financial services. 

Whether you want to build a web or mobile integration and start accepting payments online or in person, Stripe will help you with that. 

You also don’t need a full integration to get started. You can create payment links, send Stripe invoices, and offer basics in terms of payments (like payouts and subscription options) with a small amount of code. 

When it comes to pricing, most of it is based on a high charge fee. Complete access to the payments platform comes with “simple, pay-as-you-go pricing” at 2.9% + .30 per card charge. This comes with payments management, feature updates, and no monthly fees. 

Of course, you can always go with a customized option, which can get you larger discounts by volume and country specifications. 

Sila’s Full Suite Payment Infrastructure

Sila is a payments API that users build through their integrated and easy-to-use Developer Sandbox. Don’t be scared away by working with code as Sila’s product can also be used out-of-the-box. With access to the Scale or Grow pricing options, Sila gives users affordable and easy-to-understand payment options.


Users can use the product as-is, and it already comes white-labeled, to provide payouts, accept money transfers, send and receive ACH credits/debits, hold money in an FDIC insured account, access an FBO account, send and receive digital money on the blockchain ledger, access secure bank account linking, and rest assured with compliance-as-a-service. 

Sila provides:

  • Payment infrastructure
  • Secure FDIC-insured digital wallet bank accounts
  • Access to the digital blockchain and stablecoin issuance
  • International money transfers with the SILAUSD stablecoin
  • Access to ACH money transfers
  • Compliance-as-a-service
  • KYC/KYB identity verification
  • Card Issuance
  • Much more

Once you get the Sila API, you aren’t just handed the keys and you’re on your own. Sila stays on to work with you as their partner. 

Furthermore, Sila wants you to remain compliant even within the complicated banking system. For example, upon onboarding, all users have to go through the KYC/KYB verification. Therefore, you know that any active user who is able to send money has been cleared.

Sila vs. Stripe

At the outset, Sila’s suite of APIs might seem similar to what Stripe offers. However, you’ll find that the core functionality differs. Stripe is a payment vendor which grants users access to accepting payments. So while they do accept money transfers and credit card transactions, they are still limited to customers in a few ways. First, users have to access the customized packages in order to send money internationally. They also don’t offer blockchain or stablecoin payments and they also charge a hefty fee to their customers for almost every charge. 

We don’t want to discourage you from wanting to make a sale! That’s why we at Sila offer extremely low fees per charge (as little as $0.10 per transaction) and then provide all of our services, including compliance-as-a-service, so you can rest at ease. 

Another huge difference is that Sila offers KYC/KYB. With KYC/KYB, you know that every user you are interacting with is totally secure, minimizing the level of risk that your business might be exposed to. 

When it comes to choosing payment products, Stripe is really just a payment vendor. While they might provide security in their API, they are limited in the identity verification and compliance services they provide. 

With Sila you get much more. Since Sila is a bank agent, Sila has an FDIC-insured bank account up to $250,000 so that you know that your money is secure in Sila. Tap into Sila’s fintech marketplace and work with our trusted customer agents for everyday banking compliance. With Sila as your partner, your idea will get off the ground much faster than you dreamed possible!

Choose Sila: The Best Payment Infrastructure API

If you want a reliable payment infrastructure partner, then choose Sila. We not only help you at onboarding and understanding how the product works, but we continue to provide ongoing compliance services and support. 

We also have our fintech marketplace where Sila users gain access to the security and support of our partners, meaning that you don’t have to go out and get access to new vendors for every little thing. We’ve got you covered!

See today how Sila can transform your business!