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Gov.uk has replaced Stripe with Dutch provider Adyen

theregister.com

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Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#121

Post by JumpCrisscross »

trumpdong wrote: post #116
colechristensen wrote: post #54

Earlier quoted context omitted.

Payment processing costs are a scam. They're 10x as expensive as they need to be to fund rewards programs and fund the financial system. EU max credit card transaction fees are 0.3%, in the US they can be up to 4%. It just doesn't cost 4% of a transaction to handle the exchange of funds. Just wealth transfer to finance people and the upper class who take advantage of credit card perks.

The funny thing about that is that HN used to say if the fee was 4% it's because that's what it costs and if it was any lower the card networks would just abandon the country that forced it to be lower, since they'd lose money.

> HN used to say if the fee was 4% it's because that's what it costs

Do you have a link to the comment you're thinking of?

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#122

Post by trumpdong »

notpushkin wrote: post #39
siren2026 wrote: post #13

I wish Adyen was as good at marketing and hype as Stripe was. Stripe is really good at making themselves look like a way bigger deal than they are.

There’s a huge difference for small business owners. Stripe has a Get started button. You click it, fill out a form, get your site approved in maybe a day, and start making money. Adyen has a Talk to our team button. You close the tab and never think about it again until you’re making serious money. --- Edit: that is, of course, by design. Adyen doesn’t want small businesses. From the sibling comment: > only able to…

Sadly pretty normal for European companies. The penalties they face for signing up a bad customer are so much harsher they won't risk letting just anyone sign up without actual KYC not just checkbox KYC. This is the same reason Hetzner turns away 50% of its customers.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#123

Post by omcnoe »

Calvin02 wrote: post #35
randunel wrote: post #32

Earlier quoted context omitted.

No point in marketing when you outright reject customers: Thank you very much for the comprehensive feedback. I have taken a look at the information you have provided and unfortunately, at this time, Adyen is only able to support businesses currently transacting more than €5M per year or businesses which are currently supported by a Plugin built by Adyen. The reason for this is so that we are able to provide the righ…

At some point you realize that your smallest customers generate the least value but require the most support. Shedding low value users to others makes you stronger and them weaker.

Small customers grow into bigger ones later on. At least they do in the US, maybe this doesn’t happen so much in Adyen’s part of the world?

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#124

Post by trumpdong »

zuzululu wrote: post #53
maelito wrote: post #33

Adyen refuses small clients, under the million :/

they probably dont have the scale for support for anything lower vs stripe im amazed that stripe is able to handle small guys like me

They can't afford it because they have no customers, because they turn down small customers and then Stripe already has them when they become big enough for Adyen.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#125

Post by trumpdong »

johannes1234321 wrote: post #69
m101 wrote: post #29

The solution to all these expenses is to just have the user pay the transaction costs. Then everyone will start using bank transfers.

The issue with bank transfers today is that the SEPA system is robust and established, but got no web compatible API. But there are two projects (why one, if you can have two!?), one being Wero by different banks, the other being the Digital Euro by the European central bank. If either finds good adaption (Wero is rolling out slowly and for quite a bunch of banks every customer already got a Wero account automaticall…

I believe the usual SEPA flow is either scan this QR code or type this IBAN+reference into your bank's mobile app? SEPA is a "giro" system, meaning the person who owns the money has to push it, rather than a cheque system where the money owner writes something to the merchant who then pulls money from the money owner. These are always less convenient because the money owner has to contact their bank. They're also more secure.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#126

Post by trumpdong »

TRiG_Ireland wrote: post #83
johannes1234321 wrote: post #69

Earlier quoted context omitted.

The issue with bank transfers today is that the SEPA system is robust and established, but got no web compatible API. But there are two projects (why one, if you can have two!?), one being Wero by different banks, the other being the Digital Euro by the European central bank. If either finds good adaption (Wero is rolling out slowly and for quite a bunch of banks every customer already got a Wero account automaticall…

I'm Irish, but I've built a website for an Australian client and they integrated something which did that. In the checkout, you could choose to pay with a system which would log you into your bank's website, where you could approve a payment, then return to the site on which you'd made your purchase, where it would instantly be marked as paid. I think that it may have taken a few days for the money to actually arrive…

This is POLi and it's a massive security risk that they have everyone's bank passwords.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#127

Post by JumpCrisscross »

m101 wrote: post #29

The solution to all these expenses is to just have the user pay the transaction costs. Then everyone will start using bank transfers.

> solution to all these expenses is to just have the user pay the transaction costs

Then I offer an all-in price and take your customers.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#128

Post by colechristensen »

bijowo1676 wrote: post #71
colechristensen wrote: post #68

Earlier quoted context omitted.

>it is illegal for Merchants to charge credit card processing fees by law, This is only true in 4 states.

the typical Merchant bank agreements all have clauses forcing them to absorb these fees and explicitly barring them from separately charging customer CC fee. and most small/med businesses dont have clout to protest that, so they have to accept these terms in order to earn money

This hasn't been the case for a wide variety of payment processors for quite a while now. Many of the new startup-based ones have features to help you pass through the fees even. Small business can use Stripe, Square, Clover, or one of many other payment processors that don't ban them from passing credit card fees forward to consumers.

Re: Gov.uk has replaced Stripe with Dutch provider Adyen

#130

Post by mahmoudimus »

bigfatkitten wrote: post #115
matt-p wrote: post #81

Earlier quoted context omitted.

Interchange average in the UK was about 0.2% last time I looked (which was a few years ago), it't not much anyway. Also the government doesn't really do card transactions. I imagine this is for fairly rare things like renewing your passport, booking a driving test or buying a title copy. Oh and visa fees maybe? Small beer anyway, it's not like people are paying taxes via card.

> Small beer anyway, it's not like people are paying taxes via card. I do. If I’m going to give the government a big pile of money, I may as well earn some points for my trouble.

They charge a surcharge when you pay by card, don't they?
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