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Stripe in Japan

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Re: Stripe in Japan

#71

Post by joering2 »

nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

Its funny but I helped a company setup their MSP from tech point of view (integration) and being in high risk business, 3 years later they got dropped by 4 major MSPs in USA and only one that stays with them is.. Bank of America Merchants.

Not only that, but with high risk their rates used to be 6-8% fee; with BOA its 1.7%.

My take is that BOA is so huge that they don't pay as much attention to chargebacks as other players. Of course eventually you might get kicked out if you misbehave, but on the other hand with EMS they went through 3 months of application process (and over 30 changes to their website to satisfy compliance department), and then got dropped at the first chargeback after processing 500 transactions. EMS explanation - you can't have more than 0.00% chargebacks on your account, which, unless you don't sell online at all, is impossible.

As of stripe, I never looked at them seriously enough, cause I was turned off by their false advertisement: happy woman that says "all my funds are at my bank account overnight, no questions ask". If you ever processed a dollar in USA, you know how far from truth that is -- in fact, process more than 5% of your monthly average with most MSPs and your funds will be on hold for few days for "manual review". That's a standard procedure and google's search for "stripe holds my funds" clearly shows this behavior. Stripe knows this but with their ads they target naive or non-experienced sellers.

Re: Stripe in Japan

#72

Post by Artemis2 »

nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

Stripe is a good option for developers, but they are very expensive. They lowered their prices two times this year in France (2.9%+30c -> 1.8%+25c -> 1.4%+25c), but that's not enough to compete with local alternatives for medium to large businesses. It's very common to get "Interchange+" pricing in France, where the actual costs of processing are passed onto the merchant, plus a more transparent gateway fee (like a few cents).

The fact they lack some critical features for cheap and reliable card payments (3DS, Carte Bancaire network + transparent pricing) is a no-no for more traditional businesses.

Re: Stripe in Japan

#73

Post by globile »

vertex-four wrote: post #57
nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

> no support whatsoever for 3D secure This has always confused me about Stripe. They have integrations with various market-specific systems for many markets, but they don't have something that both vendors and consumers expect in the EU.

3D secure is a funny beast.

We've seen conversion rates with 3D secure for certain products drop up to 40%.

You need to tradeoff fraud/dispute stuff vs usability/conversions.

Re: Stripe in Japan

#74

Post by Vertrauen »

nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

> 3D secure

As a customer, I hate 3D secure. When I get that shit thrown at me, I often just head over to Amazon and buy the same item there. Even if it is more expensive.

Reasons:

The 3D Secure form always looks so unprofessional it makes me shiver.

It often is loaded in an iframe so it could come from god knows where.

Often it plain out does not work. It aborts the transaction with "Transaction aborted" or something like that with no further info. So I sit there thinking "Uhm.. what now? Is my password wrong or what?".

Why would I input even more of my data into your damn form? The more data I give you, the easier you can mess with me. Now my CC card number and verification number is not enough anymore. Now you want my 3D "secure" password. What do you want next?

Re: Stripe in Japan

#75

Post by charlesdm »

globile wrote: post #73
vertex-four wrote: post #57

Earlier quoted context omitted.

> no support whatsoever for 3D secure This has always confused me about Stripe. They have integrations with various market-specific systems for many markets, but they don't have something that both vendors and consumers expect in the EU.

3D secure is a funny beast. We've seen conversion rates with 3D secure for certain products drop up to 40%. You need to tradeoff fraud/dispute stuff vs usability/conversions.

We're talking physical goods, right? I don't see why you would ever use 3D secure for digital "stuff".

Re: Stripe in Japan

#76

Post by jwr »

briandear wrote: post #56
jwr wrote: post #27

Earlier quoted context omitted.

Braintree doesn't ignore the EU like Stripe. Use Braintree.

How does Stripe ignore the EU? It's available in quite a lot of countries here. Perhaps you mean 'ignore my specific country in the EU.'

I am glad it is available in your specific country in the EU :-)

Re: Stripe in Japan

#77

Post by halomru »

Aeolun wrote: post #10
neximo64 wrote: post #4

When will it be 2 day settlement in the EU like it is in the US. I don't get how competitors can do it and yet stripe still holds off.

Can't you request them to do that anyway? That said, I still don't understand why this is so relevant to a business?

Getting your money later means that your you are effectively giving out a free loan to whoever is holding your money. For you that's an opportunity cost because you can't reinvest the money for some period of time.

If your expenses have to be paid before you get your money this can also be a cash flow issue (or make a cash flow issue worse), when a peak in demand leaves you very profitable but unable to pay your bills because you're waiting for your money to arrive.

Re: Stripe in Japan

#78

Post by aaronmacy »

1_listerine_pls wrote: post #42
kyrra wrote: post #24

Earlier quoted context omitted.

Yes. In credit card world it goes auth, capture, settlement. Auth happens within those few seconds when you slide your card. Capture tends to happen at the end of the business day when the "final" total is known and charged against your card. Settlement is when everything has cleared and merchants get their money.

I am very interested in how the whole system works together. Any chance you happen know of any books or guides on the subject?

"Payment Systems in the US" by Carol Coye Benson and Scott Loftesness

Re: Stripe in Japan

#79

Post by nolok »

Vertrauen wrote: post #74
nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

> 3D secure As a customer, I hate 3D secure. When I get that shit thrown at me, I often just head over to Amazon and buy the same item there. Even if it is more expensive. Reasons: The 3D Secure form always looks so unprofessional it makes me shiver. It often is loaded in an iframe so it could come from god knows where. Often it plain out does not work. It aborts the transaction with "Transaction aborted" or somethin…

I can only talk from my experience, but with 3 different (french) banks it has been decent looking (paypal level), clear instructions and errors, let me retry 2 or 3 times if I type the wrong code.

The only issue is that I agree it shouldn't be allowed in iframes. The vast majority of ecommerce here uses it nowaday, except for sum under 20€ usually.

Re: Stripe in Japan

#80

Post by nolok »

Xixi wrote: post #70
nolok wrote: post #49

I evaluated stripe for a French company here in Europe, having heard lots of good things about them, and I have to say that while the integration was top notch, they were vastly inferior to local bank competitors in two areas : no support whatsoever for 3D secure (once you've started using it, you never want to go back), and way higher pricing. National banks (CIC, Caisse d'Epargne) both offered % way, way lower than…

Reduce the employee count from 12 to 1, who isn't even a real employee because the company has no revenue yet, and suddenly Stripe proposition is much more interesting: it allows you to focus on your product, and finding product-market fit, instead of sitting with someone in a bank. Even when that someone is kind, competent and helpful (as has been my experience with several French banks, special mention to the Banqu…

Oh I agree, but I think Stripe and Braintree have pretty much acquired the minds of people in that situation. Where they need to grow I believe is the next stage, the one I was in, "ok so we actually have an actual company that people want to pay for stuff, now we need to monetize on the internet", and in that area they're not that good.
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