Stripe increases fees for EU and UK-based businesses in April
support.stripe.com
Stripe increases fees for EU and UK-based businesses in April
1–10 of 244 posts
Re: Stripe increases fees for EU and UK-based businesses in April
#2Something needs to change in the digital payments sector. 1.5% is ok-ish but 3.25% to accept foreign cards in the EU is a lot of money!
I understand that costs are higher when using credit cards because of the credit part that introduces risk, but in my case for example I have a debit card that runs also over Mastercard, so either I have the money or I don't. Why should a merchant be charged the same fee of using a real credit card if the risk is highly reduced?
I still don't understand why it is so hard to break the Visa/Mastercard duopoly on card payments. Why isn't there a standard for payments that banks can implement? Why are Visa/Mastercard/Amex required? SEPA in EU is already something but it is taking ages for it to become an actual payment platform in everyday's life.
Re: Stripe increases fees for EU and UK-based businesses in April
#3"Businesses in the EEA who are paying out in USD to a US-domiciled bank account will now incur a 1% fee, with a minimum fee of US$2.50 per payout."
This is absurd. A 1% fee to transfer USD to a USD bank account?
The alternative is to charge in another currency - which Stripe will put a 2% currency fee on.
This is already on top of their expensive transaction costs.
Will actively look for alternatives now.
Re: Stripe increases fees for EU and UK-based businesses in April
#4Some European alternatives you might be able to find/negotiate better fees with:
- mollie (Netherlands)
- adyen (Netherlands)
- Klarna (Sweden)
- Paylike (Denmark)
- Mangopay (Luxembourg)
- Quickpay (Denmark) (added in edit)
The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ideally, you'll support at least two providers you can switch between, if you can afford the development of supporting two, as at one point or another, it'll save your ass or at least a bit of money as fee structures change between providers. It'll also be easier to integrate a third one in the future when you eventually find the perfect one (until they turn into the next Stripe).
> Dispute fees (also known as chargebacks) will increase from €15 to €20. Due to costs for managing dispute evidence submissions, we'll no longer refund this fee if the customer's bank resolves the dispute in your favor.
This strikes me as weird. User buys something from me, regrets it and issues a chargeback, dispute gets started and bank says I did nothing wrong, so the charge still sticks, but Stripe gets to keep the fee for handling the dispute?
Re: Stripe increases fees for EU and UK-based businesses in April
#5Leaves the EU and have more financial independence and to negotiate own deals
Gets grouped with EU decisions anyway.
Re: Stripe increases fees for EU and UK-based businesses in April
#6"Businesses in the EEA who are paying out in USD to a US-domiciled bank account will now incur a 1% fee, with a minimum fee of US$2.50 per payout." This is absurd. A 1% fee to transfer USD to a USD bank account? The alternative is to charge in another currency - which Stripe will put a 2% currency fee on. This is already on top of their expensive transaction costs. Will actively look for alternatives now.
Yeah, this one is a bit over the top. 1% fee for USD to USD transfer.
People from Stripe will probably appear in this discussion any moment now. It’ll be interesting seeing them try to explain this one.
Re: Stripe increases fees for EU and UK-based businesses in April
#7"Businesses in the EEA who are paying out in USD to a US-domiciled bank account will now incur a 1% fee, with a minimum fee of US$2.50 per payout." This is absurd. A 1% fee to transfer USD to a USD bank account? The alternative is to charge in another currency - which Stripe will put a 2% currency fee on. This is already on top of their expensive transaction costs. Will actively look for alternatives now.
PayPal does the same...
For non-us citizens, USD's either incur a conversation fee to another currency, or an international withdrawal fee. There is no way to get money out without paying one or other fee.
Re: Stripe increases fees for EU and UK-based businesses in April
#8Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…
Given that 3DSecure is required for all European cards we should have been seeing lower fees since that requirement. Instead fees are going up.
Re: Stripe increases fees for EU and UK-based businesses in April
#9Here we go. Stripe going down the way ↘
Re: Stripe increases fees for EU and UK-based businesses in April
#10Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…
Given that 3DSecure is required for all European cards we should have been seeing lower fees since that requirement. Instead fees are going up.
How can a user dispute a transaction if they used 3DSecure?