Never thought that it can take at least 4% of a company revenue
Up to 6-7% in some cases! Not saying it's not worth it, but it's worth knowing beforehand.
We crunched the fees of Stripe's 21 products
11–20 of 26 posts
Re: We crunched the fees of Stripe's 21 products
#12Very useful content for companies who want to understand the implication of all Stripe's fee layers.
Re: We crunched the fees of Stripe's 21 products
#13Stripe is probably the best payment platform but I'm not willing to give up 5 or 6% of our revenue.
Re: We crunched the fees of Stripe's 21 products
#14Stripe is probably the best payment platform but I'm not willing to give up 5 or 6% of our revenue.
It's the best for payment, but the additional fees come on top of the payment fees, for SaaS products: billing, data sync, etc.
Re: We crunched the fees of Stripe's 21 products
#15I kicked off at my previous co because we paid ~3% on Clearpay transactions, let alone 4% - 8% of turnover!
Re: We crunched the fees of Stripe's 21 products
#16Very useful content for companies who want to understand the implication of all Stripe's fee layers.
In France we would call it a "mille feuilles" (a thousand leaves?), like the pastry!
Re: We crunched the fees of Stripe's 21 products
#17I kicked off at my previous co because we paid ~3% on Clearpay transactions, let alone 4% - 8% of turnover!
Interesting, what did you use instead? How was the experience transitioning?
Re: We crunched the fees of Stripe's 21 products
#18Never thought that it can take at least 4% of a company revenue
Pretty common for small and medium businesses to pay ~3% of credit card revenues to the bank.
Re: We crunched the fees of Stripe's 21 products
#19I think it probably depends a lot on scale.
For a lot of small or medium businesses 4.2% + $.30 is about 1.5-2% more than they would pay for barebones card service. But the addition of tax reporting, and periodic billing more than make up for the cost of having to hire an employee or other service to handle this. PCI compliance, advanced fraud detection, etc...
As you scale, sure, you should maybe think about in-sourcing this, but how many hours per year of employee time do these services save.
This is a great article for comparison, but I think a lot of people who haven't run businesses would be shocked at the cost of handling money. Having worked at a bank I would not be surprised if cash is more expensive than credit card fees.
Re: We crunched the fees of Stripe's 21 products
#20Written by a company who has their current pricing defined as:
> Lago was born to enable any company to build a great pricing stack, starting with billing. However, we haven’t communicated about our own pricing yet
Source: https://www.getlago.com/blog/how-we-think-about-our-own-pric...