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Stripe increases fees for EU and UK-based businesses in April

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Re: Stripe increases fees for EU and UK-based businesses in April

#101

Post by captn3m0 »

marcopicentini wrote: post #78
capableweb wrote: post #4

Some 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…

If a customer has already entered its credit card through Stripe for a recurring subscription, how do you migrate to another provider without asking again credit card? Stripe locked us in.

Stripe offers PAN data export https://stripe.com/docs/account/data-migrations/pan-export

> If you decide to leave Stripe for another payment processor, we’ll work with your new processor’s team to securely transfer your credit card data.

Re: Stripe increases fees for EU and UK-based businesses in April

#102

Post by capableweb »

marcopicentini wrote: post #78
capableweb wrote: post #4

Some 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…

If a customer has already entered its credit card through Stripe for a recurring subscription, how do you migrate to another provider without asking again credit card? Stripe locked us in.

> Stripe locked us in.

PAN Migrations.

https://stripe.com/docs/account/data-migrations/pan-export

Different payment providers also can help you with the import, here is an example on how to import data from Stripe to Adyen:

https://docs.adyen.com/development-resources/migrating-payme...

Re: Stripe increases fees for EU and UK-based businesses in April

#103

Post by tallytarik »

gorbypark wrote: post #87
tallytarik wrote: post #67

Earlier quoted context omitted.

If you have a USD-denominated bank account, based in UK or elsewhere, you’ll be hit with the 1% fee. If you have a bank account in another currency, you’ll be charged a 2% currency conversion fee from USD to your currency.

I dont know if it’s common in other countries, but Canadian banks offer USD denominated accounts. From the wording, it seems like only if you are paying USD into a US bank account you pay the fee. Presumably paying USD into a non US bank account (in USD) wouldn’t incur this fee. At least I’d hope so!

Hmm, you’re right about the wording, but the alternate currencies page doesn’t seem to differentiate between where the bank account is based:

https://stripe.com/docs/payouts/alternative-currencies

Here in Australia we’re charged the 1% fee for USD payouts even though the account is with a local bank.

Re: Stripe increases fees for EU and UK-based businesses in April

#104

Post by smca »

mytailorisrich wrote: post #97
smca wrote: post #75

Earlier quoted context omitted.

If you exceed dispute thresholds dictated by card networks, they can place you in a "dispute monitoring program". The fines imposed can be very high if you don't take steps to mitigate disputes. We have a vested interest in ensuring businesses on Stripe aren't affected by these programs. https://stripe.com/docs/disputes/monitoring-programs

Does the dispute threshold includes all disputes or only successful ones (i.e. the ones the seller failed to overturn)?

All disputes. The purpose of the card networks' monitoring programs is to encourage businesses to prevent disputes from occurring in the first place. Some more on this here: https://stripe.com/docs/disputes/monitoring-programs/faqs

Re: Stripe increases fees for EU and UK-based businesses in April

#106

Post by Hamuko »

traceroute66 wrote: post #55
capableweb wrote: post #4

Some 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…

> - Klarna (Sweden) Erm, isn't Klarna a BNPL company ? Important not to conflate BNPL with merchant services (card payments).

I'm pretty sure I've bought stuff from online retailers using some kind of a Klarna widget and I just used my credit card directly.

Actually, I can find several emails that say something along the lines of "Klarna - Card payment" or "Klarna Checkout". Never done BNPL.

Re: Stripe increases fees for EU and UK-based businesses in April

#107

Post by disruptiveink »

superzamp wrote: post #33
01acheru wrote: post #2

Something 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 r…

The problem with SEPA payment, is that it's great for the merchant and a net loss for the user, especially individual consumers. From a UX perspective today, it will always be more cumbersome to initiate a SEPA transfer to the merchant. Some integrations offer a semblance of interactivity with your banking app in an attempt to streamline it, but nothing beats the simplicity entering your cards details or just showing…

This. I would never do a SEPA payment vs a credit card transaction unless there's a significant advantage to me as a user to go with SEPA. And the merchant can't give me a discount for using a specific payment which is not allowed under EU rules, so there's not much the merchant can do there.

Re: Stripe increases fees for EU and UK-based businesses in April

#108

Post by capableweb »

quelltext wrote: post #77
makeitdouble wrote: post #46

Earlier quoted context omitted.

Adyen is relatively solid if you know what you're doing, Mangopay felt like a small hippie solution in comparison. The upside is Mangopay was pretty reactive when we needed a human to talk to, the downside being that many requests would just end in "tough luck, we're too smal for that" We ended up moving to Adyen for that reason.

Doesn't Adyen only take on established companies? You cannot just sign up and get started.

You can signup and get started with a test integration: https://www.adyen.com/signup

But to be approved you need to talk with them. As long as what you're doing is a real company (and you have documentation to prove it), they'll approve you. But you do need to setup a proper business before being able to go live with payments.

Re: Stripe increases fees for EU and UK-based businesses in April

#110

Post by jeromegv »

gggggg5 wrote: post #93
dachryn wrote: post #90

Earlier quoted context omitted.

good luck actually getting that money. What are you going to do, sue over 20 euro?

I don't necessarily disagree, but I guess you could run their card again for the 20 :)

If you're not storing their card (and really you shouldn't), you cannot "re-run" their card.
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