We have used Stax, they are pretty good.
Ask HN: What are some low cost payment processing alternatives to Stripe?
111–117 of 117 posts
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#112Hello, (I’m co-founder of MonoPayments, white label payment platform for fintechs.) If you want to pay less, you have to use local processors with local currencies. This would be a complex operation. 1. Establish a company at that jurisdiction 2. Make agreements with processors, it could be banks or wallet providers. 3. You need a treasurer (or CFO) 4. Foreign Exchange rates will be a concern after a while.
I currently operate only in US and I am willing to put in the effort for integration, PCI compliance etc. Do you have any recommendations for the local processors you mentioned?
For US, I recommend Paypal. If your payment gateway supports paypal it will cover 80% of transactions.
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#113Earlier quoted context omitted.
We currently use them as our main PSP. It's ok. Unfortunately they seem to have stopped working on their main payment product for years and it stagnated. I asked a sales rep years ago if they have plans to integrate Amazon Pay. He said yes. It is still not available. They have Apple Pay, but not Google Pay. After PayPal, these wallets are the most important payment methods in e-commerce here, yet they don't seem to k…
Does any gateway provide Amazon Pay besides going straight to Amazon?
Adyen does. I previously used a smaller German company, Payone, they did too.
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#114Earlier quoted context omitted.
Other answers are good but keep in mind that other brands can be pretty expensive. If you are B2B but most of your business is using a credit card, Visa and Mastercard business card and government purchase card transactions are more costly than American Express. I don't think Stripe loses any money on a transaction. All interchange rates are less than 2.99%, but some are very close. For very low volume/low ticket pri…
In my experience people with American Express also carry a Visa or Mastercard, so there’s limited downside to refusing to accept it. Crazy that we live in a world where 3% is “a good deal”. In Europe the fees are capped at 0.15%, and I’m sure even that is well above the true costs of payment processing. Interchange fees are such a clear case of market failure that I’m surprised they haven’t been regulated.
I agree, and the rewards system gives consumers a false idea that they are getting a net benefit. The new game is charging a 3.99% service charge to the customer to pay with card, which takes the pressure off the vendor and allows the processor to take a larger cut. In some places, like tourist traps, you don't have any other options. The ATM in town might charge $3.99 withdrawal fees as well.
I was told by an insider that the reason why emv+pin is not used in the US is because Visa/MC actually profit from fraud. If fraud were cut considerably, you could argue that the network is only providing 5-10¢ of value per transaction, and cut their rates with legislation.
If we went to a system like PIX in Brazil, and dropped rewards, we could do away with most of the industry. People would only use credit cards if they needed credit.
Maybe we'll see some legislation in the future.
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#115Mollie - https://www.mollie.com/
We currently use them as our main PSP. It's ok. Unfortunately they seem to have stopped working on their main payment product for years and it stagnated. I asked a sales rep years ago if they have plans to integrate Amazon Pay. He said yes. It is still not available. They have Apple Pay, but not Google Pay. After PayPal, these wallets are the most important payment methods in e-commerce here, yet they don't seem to k…
This is not the experience I have with Mollie. Their API and payment integrations with the subscriptions API is pretty good. Very stable, fast to integrate and all European payment methods we need.
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#116For non-US residents (digital nomads), besides Stripe and PayPal, other payment companies have strict KYC requirements. Most payment companies require local residency and SSN. Why should Stripe be avoided? Is it difficult to pass their underwriting policy?
Re: Ask HN: What are some low cost payment processing alternatives to Stripe?
#117Every country has couple, if not dozens, of payment processors. Most of them will support foreign customers as well. So you have hundreds and thousands of options here. Bottom line will be that they are all essentially the same when it comes to functionality and pricing because they are the middlemen between you and visa/mastercard/... and not much else. So there is very little variety possible in this little space.…
Exactly my concern, I'm basically looking to get a service provider that is as close to card networks or banks as possible. Not looking at which one is "pretty" at all. Willing to work with that provider to integrate them with my website
most banks offer their own gateways so that is as close to the "wire" as you can get.