If I wanted to have 2 payment methods on the site is it possible to change the display name of the method used (e.g. instead of displaying "Stripe" could it simply display the "Credit card details")
I would like to use PayPal and Stripe. Is it possible to display PayPal and Credit Card
Yes. It is possible. You just need to go to Payment Plugins section of the extension, click on the payment method to edit and change title directly from there