Good for them. Self-reliance is a good thing especially weaning off hostile Americanism.
Gov.uk has replaced Stripe with Dutch provider Adyen
141–150 of 253 posts
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#142The solution to all these expenses is to just have the user pay the transaction costs. Then everyone will start using bank transfers.
> The solution to all these expenses is to just have the user pay the transaction costs.
so the ticketmaster model?
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#143Earlier quoted context omitted.
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.
It could also be something PSD2 based. You should be able to create payment using PSD2, but the client still has to approve it inside their bank app.
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#144It seems to me like whole Western countries, especially Britain being outside the EU and Eurozone and with its own currency, ought to have at least one big domestically-based option for something this fundamental. It’s an odd thing to have to rely on foreign countries for.
Is there a company that’s basically like “Stripe but British-owned”?
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#145I 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.
Stripe processes like $2T in txns per year – how do they look bigger than that?
Adyen is used by Microsoft, Meta, Netflix, Booking, etc
Stripe only outpaced after last year 34% vs 8% growth. Volume 1.9T vs 1.6T
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#146It seems to me like whole Western countries, especially Britain being outside the EU and Eurozone and with its own currency, ought to have at least one big domestically-based option for something this fundamental. It’s an odd thing to have to rely on foreign countries for. Is there a company that’s basically like “Stripe but British-owned”?
Yes, the 3rd competitor to Stripe and Ayden being Checkout.com
Also running payment processor per country would not be an easy feat or probably feasible.
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#147It seems to me like whole Western countries, especially Britain being outside the EU and Eurozone and with its own currency, ought to have at least one big domestically-based option for something this fundamental. It’s an odd thing to have to rely on foreign countries for. Is there a company that’s basically like “Stripe but British-owned”?
> Is there a company that’s basically like “Stripe but British-owned”?
British payment processors usually sell out / get taken over by US firms
Checkout.com isn't terribly British just headquartered there (Swiss guy founded it in Singapore, tons of foreign investors). They opened a SF office last year, after a big US push prior, so if their financials stay adequate I imagine it'll be another that sells out to the US
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#148Earlier quoted context omitted.
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.
I used to work at Stripe and they subject to the same penalties as Ayden. There is a misconception that Stripe is an American only company, they have dual HQ model in Ireland and San Francisco. Since they are an Irish founded company and they have an EU entity “Stripe Technology Europe”. They can be kicked out of entire countries and regions if they didn’t have an extensive KYC systems and be fined just the same.
Since Stripe operates by working with a BIN (banks that sponsor them within each country) generally like all payment providers. While the decline rates for new customers are not public, they are very high, especially for industries that aren’t allowed like Adult Content, Weapons, and Gambling [1]. Also revocation of existing accounts can happen often if KYC systems flag anything, like Stripe Identity, Connect, and Radar.
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#149Good for them. Self-reliance is a good thing especially weaning off hostile Americanism.
Stripe is an EU and US company dual headquartered in Ireland and subject to the same EU regulations as Ayden. They spend a lot developing and maintaining talent in Ireland.
Re: Gov.uk has replaced Stripe with Dutch provider Adyen
#150doesnt seem like stripe has anything to worry about here the total contract value is of irrelevant scale i guess i expected it to be more significant seeing that its the UK gov
Most government processing is prohibited at Stripe that is why it always tends to be small. Too much risk being exposed to more regulatory scrutiny that is not worth it as payments processor.
> “Prohibited Businesses… Government services… Disbursement of government economic support, such as grant” [1]
[1]: https://stripe.com/en-br/legal/restricted-businesses