How Wind River compares to Stripe is a question I hear pretty regularly at trade shows, sales meetings, even in elevators. It’s certainly a reasonable question. You’re looking to integrate a payments solution in your software so a comparison of integrated payment providers makes complete sense.
The short answer is that, like Stripe, Wind River processes credit and debit transactions for merchants. That’s pretty much where our similarities end. In fact, the laundry list of how Wind River is different from Stripe payments is quite long, but for sake of simplicity, I’ll focus on four key areas: Approach, Service Level, Pricing, and Revenue Opportunity.
Rather than just another feature in your platform, Wind River believes payments should play a greater role in the strategy of your product and your business. How can payments fuel your growth and help you achieve your objectives? That starts by understanding what you’re looking to accomplish – short term and long term.
Now compare that to a Developers First approach that believes “payments is a problem rooted in code, not finance,” and the difference becomes crystal clear.
Payments are your customers’ lifeblood. If there is a question or an issue, they’re going to want it resolved immediately. This ranks customer service high on the priority list of your customers, which makes it high on your list too.
True service goes beyond 24/7 phone and chat support and provides access to a dedicated account representative who knows your customers and has taken the time to understand their business. This means they won’t have to bring a different customer service rep up-to-speed every time they call.
We find Stripe’s price model to be rigid when it comes to looking for ways to lower rates for customers. This can negatively impact the number of your customers that use your Stripe integrated payment offering as they just don’t have the appetite for pricing they deem above market.
A HUGE difference between Wind River and Stripe is that Stripe does not offer a revenue share as a part of its partner program.
At Wind River, we believe that integrating payments requires a lot of time and work on your part, therefore, you should have the opportunity to generate revenue out of that effort. This creates a reliable flow of income you can apply to all sorts of initiatives to grow your business, such as development funding, staffing, or marketing and advertising. It’s what a true partner does.
So, there it is in a nutshell – a brief comparison of Wind River to Stripe payments. If you’d like to see the complete laundry list of how we’re different, I’m happy to share it with you. Just drop me a note.
Regardless of whether you partner with Wind River or with Stripe, just make sure you choose the integrated payment partner that is right for your business and right for your customers.