How the Collison brothers turned ‘seven lines of code’ into Stripe

Post by IgorPartola » Tue, Aug 01, 2017, 10:28 PM UTC

robinjfisher wrote: post #82

IgorPartola wrote: post #33

For me, Stripe was a revelation because they eliminated fixed monthly costs. When I ran a side project that took credit cards, I found the cheapest option to be a $20/month merchant account + $20/month to Spreedly. Others had a few months free trials, etc. but ended up being more expensive over the first year. Stripe, while being more expensive than these options per transaction, actually cost me a lot less to start…

So much this. When I started Leavetrack[1] in 2011, it was so difficult to get setup for recurring payments. I was using Chargify to handle the recurring payments/credit card storage, a company in New Zealand (I am in the UK) to handle the interface to my merchant account in the UK. Total costs: - c. US$40 per month for Chargify (which kept increasing) - £20 per month for the payment gateway - £25 per month + transac…

Post by edwinwee » Tue, Aug 01, 2017, 10:45 PM UTC

robinjfisher wrote: post #82

IgorPartola wrote: post #33

For me, Stripe was a revelation because they eliminated fixed monthly costs. When I ran a side project that took credit cards, I found the cheapest option to be a $20/month merchant account + $20/month to Spreedly. Others had a few months free trials, etc. but ended up being more expensive over the first year. Stripe, while being more expensive than these options per transaction, actually cost me a lot less to start…

So much this. When I started Leavetrack[1] in 2011, it was so difficult to get setup for recurring payments. I was using Chargify to handle the recurring payments/credit card storage, a company in New Zealand (I am in the UK) to handle the interface to my merchant account in the UK. Total costs: - c. US$40 per month for Chargify (which kept increasing) - £20 per month for the payment gateway - £25 per month + transac…

Post by jeffasinger » Tue, Aug 01, 2017, 10:46 PM UTC

jameskegel wrote: post #80

jacquesm wrote: post #67

Earlier quoted context omitted.

My hope is they will not be acquired and will keep this stand-alone as a true alternative rather than be eaten and then to lose all their advantages. Acquisitions of companies like this usually spell the end of the line. Here's to hoping Stripe will IPO and will go on to acquire who could now potentially acquire them.

I'm not sure who'd have the ability to make that type of acquisition, to be honest. Maybe First Data? That would may even be a stretch.

Post by ErikAugust » Tue, Aug 01, 2017, 11:08 PM UTC

hwillis wrote: post #132

jacquesm wrote: post #66

Earlier quoted context omitted.

And most importantly: Stripe does not randomly decide your funds are suddenly theirs for the next 6 months to a year.

That's the least of it. Paypal automatically puts you on a 21-60 day rolling reserve once you hit a certain level. Small businesses can and have had 30%+ of their revenue unavailable for two months. That's your entire profit margin gone. It makes it impossible to grow a small business. And of course they will not respond to anything for months if ever. And it never gets better! Companies with millions in revenue stil…

Post by EGreg » Tue, Aug 01, 2017, 11:28 PM UTC

aidenn0 wrote: post #121

EGreg wrote: post #99

Earlier quoted context omitted.

[flagged]

You can shave 4 bytes off of your comment by omitting the redundant "www." in your first link.