Stripe Terminal for Restaurants: A Complete Guide
Stripe Terminal is Stripe's in-person payment hardware. It connects to your POS and processes card-present transactions (tap, chip, swipe, digital wallets) at 2.7% + 5¢ per transaction. No markup, no bundled processing, no separate merchant account.
Here's what restaurant owners need to know.
Available Readers
Stripe Reader S700 — The flagship. 7" HD touchscreen, built-in camera, tap/chip/swipe. Runs apps directly on the device, so it can display order details, collect tips, and capture signatures. Ideal for tableside payments. Costs ~$499 from Stripe.
BBPOS WisePOS E — A countertop reader with a 5" screen. Tap/chip/swipe plus PIN entry. Good for counter-service restaurants or as a fixed reader at a POS station. Costs ~$249 from Stripe.
Both readers connect to your POS over WiFi. No phone line, no ethernet required (though ethernet adapters are available for the WisePOS E).
Pricing
Stripe's pricing is simple:
- In-person card payments: 2.7% + 5¢ per transaction
- No monthly fees from Stripe (your POS may have its own subscription)
- No batch fees, PCI fees, or statement fees
- Payouts: Standard 2-day bank transfer (instant available for additional fee)
Compare this to a typical restaurant payment processor that charges 2.9% + 30¢ plus a monthly gateway fee of $10-$25, a PCI compliance fee of $10-$15/month, batch fees of 10-25¢ per batch, and statement fees of $5-$10/month.
Setup Process
- Create a Stripe account at stripe.com (free, takes 10 minutes)
- Order a reader from the Stripe Dashboard
- Connect your POS — if your POS supports Stripe Terminal (like TAB POS), the reader is discovered automatically over WiFi
- Start accepting payments — funds deposit to your bank account on a 2-day rolling basis
The entire process from sign-up to first transaction can happen in a single day once the reader arrives.
Tips and Signatures
The S700 displays tip prompts directly on the reader screen. You can configure preset tip amounts (e.g., 18%, 20%, 25%) or allow custom amounts. Signatures are captured on-screen when required. This means tip collection happens at the table without the server needing to handle a paper receipt.
Offline Support
Stripe Terminal readers can store transactions when offline and process them when connectivity returns. This is critical for restaurants — your payment processing doesn't stop if WiFi drops during a rush.