The Samwer's are effectively a tax on innovation. They contribute nothing new, only cut into the potential profitability of web innovators
But they are here in Germany where Stripe is not! So for us germans the do contribute.
Samwers Clone Stripe
151–160 of 167 posts
Re: Samwers Clone Stripe
#152Earlier quoted context omitted.
You want a local, independent gateway and acquirer anyway (same jurisdiction, language, support…) which both Spreedly.com and Recurly.com support with http://www.WireCard.com/ In bad circumstances you don't want to lose all your payment infrastructure e.g. if paymill or stripe go out of business/have issues. That's why dealing with 2 parties may look odd but in the end it is worth the effort. If you have problems pay…
If you have problems paying the 50-100$ monthly fee, then your business is the problem. Why should a scrappy startup pay an extra 50-100$ when it doesn't have to? Why should a scrappy startup deal with the horrible paperwork of payment gateways on top of the horrible integration, when it doesn't have to? You make no sense.
Seconded. I run an ecommerce site that has more than 100k in sales per year but only 10 to 20% go through credit cards. I sure will not file endless paperwork and do long integration just to move away from paypal. But I signed up for paymill in a second because it will provide what I really need (a nicer payment process) and spare me a lot of hassle. The processing fees on 20k is 580 for Paymill so it would even be cheaper. If the shop grows tenfold then sure lets integrate with the XML over fax machine API of a real bank.
Re: Samwers Clone Stripe
#153The Samwer's are effectively a tax on innovation. They contribute nothing new, only cut into the potential profitability of web innovators
If I get to repeat a patio11 by integrating them they might earn me a lot of money.
Also how innovative is Stripe really. They provide a service that is fairly obvious when you worked with Paypal or a large bank. The point is providing the service is a lot of hard work, thats what we pay them for. The mere idea of payments should not suck this hard is not their business. It is actually depositing your customers money in your bank account and frankly they don't offer that in Germany.
Re: Samwers Clone Stripe
#154The best part about Stripe is, and has always been, their amazing understanding of developer needs and their top-notch customer service. No copy-cat can provide that at the same level as Stripe. Helping a website accept credit cards is only half of the equation.
Re: Samwers Clone Stripe
#155Earlier quoted context omitted.
However, wires need about 2 days to process This is how you pay: the bank earn the interest rate for those two days.
That's less than 0.1 percent. I guess most people would accept higher tranfer fees to speed up the process :)
Not really, very few bills must be payed immediately, so most transfers are specified to be made at some later date.
Besides, transfers within my country (Denmark) to other banks arrives next day. If you pay for the transfer, you can get the money transferred immediately. So next day = free, same day = pay.
For free transfers I don't get interest rate for the day when the money leave my account. The recipient don't get interest rate for the day he receives the money. So even if the transfer only takes a few hours (If I pay just after midnight, he'll have the money at 6am), the bank earns interest rate for 2 days.
Banks transfer huge amount of money so the interest rate adds up for them.
Re: Samwers Clone Stripe
#156Only seems to support German bank accounts at the moment (not any European) - though they're not terribly difficult to open.
I'm a french citizen, do you know what is required for other EU citizens to open a german account? E.g, In the UK its a nightmare, but in Spain, it seems easy
Re: Samwers Clone Stripe
#157Only seems to support German bank accounts at the moment (not any European) - though they're not terribly difficult to open.
You also need a German business license.
Re: Samwers Clone Stripe
#158Earlier quoted context omitted.
The only gap is, that Recurly and Spreedly were not able to tell the EU founders that their service is available and working perfectly fine with European payment gateways. They all have JS and REST-APIs and a lot more: - http://recurly.com/ - http://spreedly.com/
Nope. Although Recurly could be technically used in Europe, it generates invalid invoices (at least here in Spain). We are switching away from it, and personally, I do not recommend it anymore.
VAT is a tricky area with a lot of special rules - this is why most recurring billing providers don't take it on.
After hearing additional requirements from dmarinoc and a few other merchants located in Spain, we have since implemented a solution for merchants using VAT.
Diego - I'll follow up with you directly about the changes :)
Rachel - Recurly Support
Re: Samwers Clone Stripe
#159Earlier quoted context omitted.
The only gap is, that Recurly and Spreedly were not able to tell the EU founders that their service is available and working perfectly fine with European payment gateways. They all have JS and REST-APIs and a lot more: - http://recurly.com/ - http://spreedly.com/
Nope. Although Recurly could be technically used in Europe, it generates invalid invoices (at least here in Spain). We are switching away from it, and personally, I do not recommend it anymore.
[deleted]
Re: Samwers Clone Stripe
#160Earlier quoted context omitted.
Groupon makes more revenue outside North America than it does within it (in Q2: $308MM for international; $260MM for N.A. on a total customer base of 38MM users) Groupon already has a presence in the UK, its international expansion particularly in europe was helped via an acquistion of another Samwer Brothers company MyCityDeal.de which became Groupon.co.uk, Groupon.de etc. The reason Groupon is only growing 31% in E…
And what were all of the costs associated with expanding to the UK? What's the ROI of simply setting up shop vs buying a company outright? > the merchants aren't getting the same value Groupon (much to the OP's point) is like every mindless American out there who thinks that you can simply copy and paste an American business model into any part of the world. The world does not simply work this way, but we (Americans)…
At Groupon's Q2 2012 earnings call[1], CEO Andrew Mason actually stated reasons why the International Market wasn't doing as well as it North American Market and in particular he focused on Europe, as highlighted by my points above.
The reason the merchants aren't getting the same value is because of what I explained above, that merchants aren't willing to give the same level of discount as their North American counterparts so people aren't redeeming as many deals, due to the discount not being as significant meaning the European market is only growing at 31%.
I'm actually from England, and Groupon actually made a smart acquisition from the Samwer Brothers of the MyCityDeal.de brand, even though it has received a lot of complaints (some of them were before the acquistion, and because the advertising laws across Europe all vary) however, Groupon has cleaned up these issues and openly admits to them which is why its outselling LivingSocial in the UK by 14 to 1[2].
Simiarly, whenever a company does any M&A it calculates the costs associated to expanding to the UK on its own, and the ROI from building its brand from scratch as opposed to purchasing a company outright and folding it into its brand. Whenever the costs benefits from an acquisition outweighs the decision to start from scratch, a company will always try and complete the M&A. Always.
[1] http://investor.groupon.com/eventdetail.cfm?eventid=116788
[2] http://techcrunch.com/2011/08/30/groupon-uk-is-outselling-li...