What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
Direct Debit API for 1%; max £2
11–20 of 96 posts
Re: Direct Debit API for 1%; max £2
#12I don't get why the US and UK rely so much on payment methods that rely on the secrecy of some unique codes, that you have to trust every payee to secure. Seems backwards to me.
Here in Portugal we have both direct debits and "service payments" (for one-off stuff), and in both cases the payee is the one telling the bank about the payment (usually on the bank's website or an ATM). There are codes involved (the merchant's), but since they can only be used to transfer money to them, they don't have to be secured.
Re: Direct Debit API for 1%; max £2
#13What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
That's the cost to the seller:
No set up fees, no monthly minimums, and no hidden charges.
Simple, transparent pricing - we charge just 1% per transaction up to a maximum of £2.00.
Re: Direct Debit API for 1%; max £2
#14What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
£2 is the most you'll pay as a fee. 1% or £2, whichever is lower.
Re: Direct Debit API for 1%; max £2
#15What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
The limit is how much they charge you...
Re: Direct Debit API for 1%; max £2
#16I don't get why the US and UK rely so much on payment methods that rely on the secrecy of some unique codes, that you have to trust every payee to secure. Seems backwards to me. Here in Portugal we have both direct debits and "service payments" (for one-off stuff), and in both cases the payee is the one telling the bank about the payment (usually on the bank's website or an ATM). There are codes involved (the merchan…
That requires your customer to actually go to the banks website/ATM and pay you.
Re: Direct Debit API for 1%; max £2
#17What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
The £2 limit is on the transaction fee, not the maximum payment. From the FAQs:
... you will never pay more than £2.00 for a transaction.Re: Direct Debit API for 1%; max £2
#18> Currently we are UK-only. We will be rolling out internationally soon.
That was good to see. For EU payments (no sign they are going global) this would make a great solution. Less use for me while still UK only, but I am sure there are lots of UK businesses that could start using it now.
Re: Direct Debit API for 1%; max £2
#19Hope they come to Germany.
They say in the FAQ they will cover all of EU soon...
Re: Direct Debit API for 1%; max £2
#20What's with the £2 limit though? And what prevents me from splitting my payments into several £2 chunks?
£2 is the most you'll pay as a fee. 1% or £2, whichever is lower.
I wonder if there is a minimum of 1p? Either way this is potentially compelling for micropayment type solutions...