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EBay to Ditch PayPal for Dutch Payment Processor Adyen

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Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#111

Post by parito »

ftoo wrote: post #102
parito wrote: post #95

One of the bigger drawbacks of Adyen vs Stripe, although we wanted to work with them a lot, is, they require a crazy reserve (in the millions) if your model is subscription based. The logic behind it from them is, that they must be able to refund all your customers in case you go bankrupt, and you have subscribers left hanging without full-filled service they paid in advance for. Although I get the logic behind it, n…

Wouldn’t they simply require a reserve that is proportional to the amount you’re charging for the recurring payment?

Usually most PSP's do have some reserve rule, like keeping the 5% up to an X amount of sum, but with Adyen their team calculated the X amount to be in the millions - not one PSP (and we worked with all of them) had this.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#112

Post by DrScump »

marcell wrote: post #93
donatj wrote: post #88

Earlier quoted context omitted.

This. Entirely. I used to work for a small ecommerce webdev shop. I’ve worked on sooo many shitty insecure shopping carts over the years I simply know not to trust basically any small website asking for my card. Completely unencrypted, storing CVVs, sending CC details as GET parameters, I’ve seen it all. It’s painfully common! If a company is not a huge name, and is handling your credit card info themselves, they are…

> If a company is not a huge name Not to be snarky, but a huge name is no guarantee of safety. See: Target, Equifax.

Even eBay itself (PayPal's parent) had a major password hack in 2014.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#113

Post by DrScump »

nicoburns wrote: post #87
kevin_thibedeau wrote: post #82

Earlier quoted context omitted.

Going to a well known third party is a guarantee that my payment data isn't sitting in a poorly secured vendor database. That's more important to me than a seamless transaction. PayPal is most useful when you don't fully trust the site you are buying from to have their shit together.

Ebay presumably doesn't have this problem though... they are large enough to be trusted on their own...

eBay itself had a major password hack in 2014.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#114

Post by thirdsun »

mdnormy wrote: post #85
xstartup wrote: post #74

Stripe/Braintree are a lot better than PayPal. PayPal will never take your processing history into consideration if their algorithms decide that your account is connected to some account with past violations. This happened when my developer used his API keys on our production resulting in our account with 1M+ revenue/2 years (very few chargebacks if any) of operation banned. As a small startup, it was a death sentenc…

But the brand name matters. My previous company selling online product to typical non-tech audience, and majority US customer insist on Paypal.

My guess is it's even more popular outside the US, or anywhere where credit cards aren't that common - like europe. We link our banking account to Paypal and use it to have instant payments (and fulfillment) without credit cards. You can't expect people to own credit cards over here.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#115

Post by whazor »

cyberferret wrote: post #14

I've never heard of Adyen here in Australia before this. I assume they are far more Europe/US oriented? I assume they will be rolling out the new integration world wide, so that it will become more ubiquitous? I believe Paypal has a local office in Aus, so I presume Adyen will be setting up local offices in most countries? (I also noticed on the video that it is pronounced "Adi-an" where I first thought "Ad-yen" whic…

I have heard of it as it's a Dutch company and I am Dutch. They are doing really well in the sense of having many payment methods, as in Europe every country prefers a different method. The CEO has a lot of experience in payment integrations and financial transactions, even before starting Adyen. Furthermore, in the Netherlands they are also rolling out payment machines that are cheap and support many payment options (also think about Apple Pay etc).

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#116

Post by reacharavindh »

donatj wrote: post #88
kevin_thibedeau wrote: post #82

Earlier quoted context omitted.

Going to a well known third party is a guarantee that my payment data isn't sitting in a poorly secured vendor database. That's more important to me than a seamless transaction. PayPal is most useful when you don't fully trust the site you are buying from to have their shit together.

This. Entirely. I used to work for a small ecommerce webdev shop. I’ve worked on sooo many shitty insecure shopping carts over the years I simply know not to trust basically any small website asking for my card. Completely unencrypted, storing CVVs, sending CC details as GET parameters, I’ve seen it all. It’s painfully common! If a company is not a huge name, and is handling your credit card info themselves, they are…

This. I wish there was a fundamentally different way of handling payments. Something like a one time hash you give the vendor that serves like a digital check(cheque). This way, if they lose the hash they lost their money instead of the customer's.

Handing a merchant credit card details "feels" like handing them a blank Check and trusting them to not take more than they should because of the risk of them losing the data.

Edit: The digital hash should say where money comes from, to who, for what purpose, time, auth code and so on.

I live in Denmark, and they have a system of phone banking here called "Mobile Pay" it works kind of like that. Where you transfer money to the merchant public phone number and show them proof of sending.. However it only works for in-person payments where you can swing your phone to show.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#117

Post by superplussed »

parito wrote: post #95

One of the bigger drawbacks of Adyen vs Stripe, although we wanted to work with them a lot, is, they require a crazy reserve (in the millions) if your model is subscription based. The logic behind it from them is, that they must be able to refund all your customers in case you go bankrupt, and you have subscribers left hanging without full-filled service they paid in advance for. Although I get the logic behind it, n…

Are you saying that to process recurring fees on Stripe (as so many startups do) that you need this reserve?

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#119

Post by lfxyz »

cyberferret wrote: post #14

I've never heard of Adyen here in Australia before this. I assume they are far more Europe/US oriented? I assume they will be rolling out the new integration world wide, so that it will become more ubiquitous? I believe Paypal has a local office in Aus, so I presume Adyen will be setting up local offices in most countries? (I also noticed on the video that it is pronounced "Adi-an" where I first thought "Ad-yen" whic…

I hadn't heard of them until I moved to the Netherlands and only became aware of them because buying e.g. cinema tickets flashed up on my phone as a payment to Adyen rather than Pathe.

Re: EBay to Ditch PayPal for Dutch Payment Processor Adyen

#120

Post by dingo_bat »

jacquesm wrote: post #80
analog31 wrote: post #54

Earlier quoted context omitted.

I'm using Google Sites. Previously, I wrote plain HTML, but just the most basic sort, that most browsers will typically format into something readable, even if not beautiful. You're right, I mean a static site -- one that cannot run a server side script. At its most basic level, you can pay me by going to PayPal and telling them to send money to my account. PP takes your credit card info. I get an e-mail, and my PP a…

> If I try to screw around with you in any way, PayPal will happily reverse the transaction. And they will also happily reverse the transaction if you don't.

IMO it should be like this, in favour of the buyer.
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