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

support.stripe.com

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

#161

Post by Aeolun »

01acheru wrote: post #20
pifm_guy wrote: post #12

Earlier quoted context omitted.

It's the chicken and egg problem... If you started a new card provider today, you'd need to get consumers onboard, banks onboard, merchants onboard, and every card machine in the world replaced to accept your new card type. The closest we get to that is loyalty cards and gift cards that only work in one shop. Some of those have managed to be compatible with a few shops, but nowhere near what would be needed for a con…

I totally understand you and you are perfectly right IMHO. This is why I don't understand why isn't there a payment standard, we are in 2023 already, the economic burden of keeping fattening those "old-school" card networks is absurd, it is billions and billions of dollars each year. Lobbying is the only reason I see that keeps a payment standard from being implemented.

Would you want to work on a payment standard and then try to convince the rest of the world to use it?

I dunno, that just sounds too soul destroying to me.

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

#163

Post by smca »

codegeek wrote: post #157
smca wrote: post #59

Earlier quoted context omitted.

That's right. Stripe is charged regardless of the dispute outcome (the networks don't refund the fee). So our focus is twofold: prevent disputes from happening in the first place and help users manage them if/when they occur.

Yes but doesn't Stripe pass that fee on to the merchant ? If a dispute is lost, the fees are not returned back to the merchant so I assume Stripe uses that to pay the network.

That's not quite right.

To simplify things, think of Stripe as an facilitator in the dispute process. Stripe has no influence over the outcome—it's at the sole discretion of the cardholder's bank. Stripe deducts a dispute fee to cover the cost charged to us for dispute submission.

In the past, we returned this fee even though the card networks don't reimburse us. This is no longer the case (we now pass through the fee).

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

#164

Post by rubynerd »

aspyct wrote: post #156

Oh, so I'm going to pay more for customers who have "premium cards"? > Standard EU cards: 1.5% + €0.25 per transaction > Premium EU card: 1.9% + €0.25 per transaction That sounds completely backwards. They chose to have premium cards, not me.

Looking at the definition of "premium cards"[0] they're actually business/commercial/corporate cards, not premium consumer cards. A horrendous term that's bound to cause confusion.

The scariest part of this pricing split is that Stripe seems to be determining the fee "based on the information available from card networks at point of capture", instead of being directly told what the card type is, and even allude to this determination being potentially incorrect.

This gets even more frustrating when you think that business spend is on average higher than personal/consumer spend, so charging a higher fee for this is just a triple whammy.

It's easy to crucify Stripe for this, but this is probably a product of a cost review they're undertaking as part of IPO/next round prep (if The Information is anything to go by). We need a new Visa/Mastercard.

[0] https://support.stripe.com/questions/what-s-the-difference-b...

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

#165

Post by BonoboIO »

Aeolun wrote: post #158
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…

> This strikes me as weird. It’s very normal. It’s why a lot of services immediately ban you for life if you ever issue a chargeback (regardless of validity). Stripe was the sole sensible service out there (that I know of) where chargebacks wouldn’t hit a small business as hard as long as they could prove they were in the right. But it seems Stripe is becoming everything it originally railed against.

The endless cycle :D

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

#166

Post by cinericius »

oldstrangers wrote: post #151

Stripe takes like $200 from me on every payment for my little side project. Tiny one man business, seems really absurd to me.

What's the ballpark figure for the payments for this side project? $200 seems extreme unless your side project is charging $10,000~ per payment.

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

#167

Post by capableweb »

fatfox wrote: post #128
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…

Also worth checking out Braintree (PayPal). It's not the worst dev experience.

As the notice from Stripe is about Stripe customers in Europe, I thought the alternative list should be focused on European alternatives.

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

#168

Post by brianwawok »

Aeolun wrote: post #158
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…

> This strikes me as weird. It’s very normal. It’s why a lot of services immediately ban you for life if you ever issue a chargeback (regardless of validity). Stripe was the sole sensible service out there (that I know of) where chargebacks wouldn’t hit a small business as hard as long as they could prove they were in the right. But it seems Stripe is becoming everything it originally railed against.

Except you will lose every chargeback. Despite evidence including IP logs and screenshots.

Easier to just lifeban every customer that does a chargeback vs spend 10 hours dealing with stripe + bank, and still losing, no matter the reason.

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

#169

Post by ddorian43 »

blackhaz wrote: post #134

This ain't as bad as international PayPal... We (EU company) have clients paying from abroad via PayPal. I can't figure out what to do with this. We're being hit with 4.7% PayPal international fee, then ~ 3.75% fee to convert USD to our local currency to withdraw to our bank account. (PayPal won't let us withdraw USD.) Then another 2-3% to convert it back to USD in our bank to pay our supplier in USD. Imagine the tot…

What about opening a Wise account and transferring from Paypal to there?

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

#170

Post by oldstrangers »

cinericius wrote: post #166
oldstrangers wrote: post #151

Stripe takes like $200 from me on every payment for my little side project. Tiny one man business, seems really absurd to me.

What's the ballpark figure for the payments for this side project? $200 seems extreme unless your side project is charging $10,000~ per payment.

Amount $4,500.00

Fee $310.80

> Application fees: $180.00

> Stripe processing fees:$130.80

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