111–120 of 244 posts
Here we go. Stripe going down the way ↘
Did HNers here not realize that Stripe is slowly becoming like PayPal, given the customer support stories of random locked funds and accounts for months? The alternative has always been to use multiple gateways.
One should have at least 3 alternatives and load-balance evenly (or using another strategy depending on fee structures).
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> SEPA in EU is already something but it is taking ages for it to become an actual payment platform in everyday's life. Is there anything stopping merchants from offering different prices to people based on different payment methods? I assume the reason merchants do not list a discount for paying via SEPA or ACH or debit card or whatever local non credit card (and non Visa/Amex/MC) option, is because merchants benefi…
> Traders in the EU are not allowed to charge you extra for using your credit or debit card. https://europa.eu/youreurope/citizens/consumers/shopping/pri...
Swiss (the airline), for example does that.
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Presumably you've got a UK bank account, so you can just use that and take on the currency risk and transaction fees of Wise or similar?
We use Wise but their USD accounts are US-domiciled. So we have 3 options: - Continue paying out to Wise and incur an additional 1% fee (~$30k per year) - Use Stripe for currency conversion which is additional 2% fee (~$60k per year - Find a UK-domiciled USD account to pay out to. Might be possible - no idea really. Need to look into it.
FWIW one of these was readily available from my existing bank (Barclays) last time I needed one (~10yrs ago). Bit of hoop-jumping to go through, but definitely worth it for $30k/year.
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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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1% is enormous for this. I think the cost of a SWIFT transfer is maybe $3 to them, regardless of amount. If you're doing $100k/month of USD sales and payout once a week, it is a huge markup. They are clearly losing money on their (really expensive) forex fees so are trying to recoup this by this payment. There is no intrinsic reason I see why the fees are so high for this. Edit to add: they actually use ACH for US ba…
Again, in my understanding is Stripe not forcing you to—-as a EEA business——settle USD in a US domiciled account; you can settle the USD in an EEA domiciled account and not incur the cost. If you then want to repatriate the money to the US with your bank, you can do so yourself. I also just looked it up how much this costs with my bank, and it's a minimum fee of $25 + agent/intermediary bank fees on top of it, for am…
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I don't necessarily disagree, but I guess you could run their card again for the 20 :)
and when it gets charged back, you have to eat the 20 again?
I recently saw someone mention this on reddit asking for legal advice but didn’t find anyone here talking about it and the original post seems to be gone but they linked to this post https://support.stripe.com/questions/argentina-s-new-inbound...
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…
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>The fee gets taken regardless. The fee gets paid back in full to you by Stripe if you win the dispute.
Not anymore (in Europe at least) from the article.
https://support.stripe.com/questions/pricing-updates-for-bus...