Elavon vs Stripe: Full Comparison of Fees, Features & Alternatives

Please note that the information about the companies in this article was sourced from their respective websites as of May 2025. This information may be subject to change.

Choosing a payment provider isn’t just about ticking a box—it directly affects how quickly you get paid, how much you lose to fees, and how easy the checkout experience is for your customers. You’ve probably looked at big names like Stripe and Elavon. Maybe you’re already using one of them and wondering if there’s a better option out there.

In this article, we break down what Stripe vs Elavon actually offer for online payments with a focus on the UK and EU merchants. We’ll look into how they compare on pricing, features, and ease of use—so you can make a more informed decision. We’ll also introduce an alternative to Stripe and Elavon, an open banking provider Noda, and a simpler setup through open banking.

Elavon vs Stripe for Online Payments

Elavon Payment Processing Online 

Elavon is a payment processor that supports both online and offline payments. Elavon’s merchant services are mainly aimed at smaller UK businesses, offering tools like card machines, online checkouts, phone payments, and mixed payment options. Elavon operates in some countries across Europe and Americas, and also acts as a merchant acquirer.

Merchants can access features like a Virtual Terminal, Pay by Link, multi-currency conversion, and recurring payments. Elavon’s payment gateway only supports card-based payment methods like major card types and digital wallets like Apple Pay, Google Pay, and UnionPay, and also integrates with e-commerce platforms. For setup, businesses can choose from a hosted payment gateway, API integration, or easy-to-use plugins.

Elavon Service Fees

Elavon uses a freemium model for face-to-face payments—there’s no monthly fee to start, but you’ll still pay transaction fees and software costs depending on your setup. There are also paid plans for scaling up.

For online payments and gateway services, there is only one plan:

• £25 monthly gateway fee
• From 0.99% per transaction

Elavon doesn’t reveal its pricing for chargebacks or payouts. It’s also unclear how much exactly a merchant would pay per payment method.

Stripe for Online Payments

Stripe is a well-established player in the payments space, offering a broad range of tools—from online and in-person payments to financial services, billing automation, and even card issuing.

Its online gateway features the Optimised Checkout Suite, which includes a hosted checkout page, flexible UI options, support for 100+ payment methods, and Link—Stripe’s one-click payment experience. Businesses can also use Stripe to create and share simple payment links.

On the payout side, Stripe enables global money transfers, allowing merchants to send one-time or recurring payments and monitor success rates. It’s suitable for platforms like marketplaces, fintech apps, and online retailers.

Stripe Fees

Stripe offers a wide range of online payment features, which makes its pricing structure quite complicated. There’s no charge to use its checkout, but you’ll still pay different fees depending on the type of transaction or service.

Stripe’s Transaction Fees

Read: How to Reduce Card Processing Fees

Stripe’s Other Fees

Stripe also charges fees for things like payouts, chargebacks, disputes, and other payment-related services.

Smarter Alternative: Noda’s Open Banking

Looking for a simpler, faster way to get paid online? Noda could be just what you need.

Unlike Elavon or Stripe for business, Noda is the expert in open banking—so your customers can pay you directly from their bank accounts, with no cards or middlemen involved. And while Stripe limits open banking to the UK, Noda gives you access to 2,000+ banks across 28 countries in the UK and Europe. This means lower fees, faster payments, and no hidden charges for things like instant payments & payouts and international transactions.

Noda also keeps things simple with clear pricing and quick setup. You’ll get all the essentials—pay-by-bank, payment links, plugins, and API integration—plus your own personal manager to support you during onboarding and beyond. We’re just a call, message or email away, whenever you need help.

How Open Banking Checkout Works

Open banking—also known as pay-by-bank—is a modern payment method that bypasses card networks entirely. Customers simply pay through their bank’s app or online banking. Here is how it works:

1. Your customer selects Pay-by-Bank at checkout
2. They pick their bank (Noda connects to 2,000+ banks across the UK and Europe)
3. They approve the payment in their banking app — using Face ID, fingerprint, or passcode
4. You get paid — instantly

Pay-by-bank means lower fees, no chargebacks, smoother checkout, and fewer abandoned carts. It’s already trusted by over 14 million UK users and 63 million across Europe—especially popular with Gen Z and Millennials.

Why Merchants Choose Noda’s Pay-by-Bank

• Fully regulated under PSD2 with secure, bank-level APIs
• Fast, flexible setup: plugins, payment links, QR codes, or full Open Banking API
• Prefer both cards and open banking? We offer card payments too, with smart routing and built-in fraud protection—so you can manage both cards and open banking in one place, with a single provider
• Plus, you get your own personal account manager for hands-on support from day one

Which Provider Is a Better Fit: Elavon or Stripe?

The key difference between Elavon and Stripe is how modern and flexible they are.

Stripe is built for online businesses. It offers more features, faster payouts, and supports more payment methods—including open banking.

Elavon is more traditional and geared toward smaller UK businesses that also need offline tools, like card machines.

Elavon vs Stripe Fees

Stripe is generally more expensive, especially for international and premium cards. Elavon keeps things simpler with a flat £25 monthly fee and rates starting at 0.99%, but doesn’t clearly show all its extra charges.

Stripe shows all its fees upfront, but they can add up—especially with chargebacks, currency conversions, and instant payouts. If you want transparency and simplicity, Elavon might feel easier. But if you want flexibility and modern features, Stripe is worth the cost.

Elavon and Stripe Comparison: Final Thoughts

Choose Elavon if you're a small UK business focused on in-person or traditional card payments and don’t need open banking.

Choose Stripe if you’re a tech-savvy business operating globally and want access to a wide range of payment tools—but are prepared for complex fees and setup.

Choose Noda if you're an online business in the UK or Europe looking for lower fees, instant payouts, and a seamless checkout experience through open banking—with the option to add card payments and get hands-on support from a personal manager.