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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

#161

Post by CamouflagedKiwi »

matt-p wrote: post #81
arjie wrote: post #6

Surprisingly small contract. It's interesting to see that a full government contract for a payment provider is a fraction of a US mid-size company's cloud bill. I am constantly surprised by things like this. Here's another: there are more foreigners in Taiwan (total pop. 25 m) than in China (total pop. 1.4 b).

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.

And Companies House - still relatively rare though, like one payment of £50 per company per year.

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

#162

Post by CamouflagedKiwi »

DaSHacka wrote: post #82
matt-p wrote: post #77

Earlier quoted context omitted.

You are also being subsidised by debit card users.

How many people are actually buying things on a Debit card? I imagine not a lot

Much more common in Europe, which is partly cultural, and partly because there's not the same single/dual message technical distinction between debit and credit cards, so you don't "need" a credit card in the way you would for certain things in the US (e.g. a hotel that wants to preauth it).

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

#163

Post by trumpdong »

fireant wrote: post #143
trumpdong wrote: post #126

Earlier quoted context omitted.

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.

They said Australian - it's POLi.

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

#165

Post by fsuts »

zuzululu wrote: post #52

doesnt 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

They have moved as it also allows payment by paybybank which is the uk direct bank payment service

Stripe globally will be worried as countries seek to cut out the card payment middle man and do direct bank to bank account payments

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

#166

Post by pembrook »

chinathrow wrote: post #155
halapro wrote: post #154

Earlier quoted context omitted.

People don't make a company. Stripe exists as is because it's not a EU company.

Why though? Because they raised a lot of capital in the US? Or because they had access to better talent in the US? As I see, there are many payment providers in the EU, just not API first as Stripe ever was.

People will blame the EU’s nightmarish fragmentation and regulatory headaches (all true)…but ultimately all factors ladder up to one thing: the availability of risk capital to invest in new ventures.

When Stripe was founded Venture Capital in Europe was even more nonexistent than it is today. Regardless of the regulation, if the EU dumped 2X as much risk capital into payments startups at the same time the U.S. did, Stripe would be a European company.

Talent flows to where the money is. Then once talent starts aggregating in one place it produces network effects (gravity), that gravity pulls in more capital and talent in a virtuous cycle, until fast forward a few decades and suddenly you have almost all the most valuable companies in the world being from Silicon Valley. Hence the present time we live in.

Who’s fault is it Europe is so far behind? Ultimately WW1 and WW2 destroying European wealth, assets, talent and risk tolerance.

If you look at the countries who stayed out of both wars (Sweden, Switzerland)…they are currently the tech hubs of Europe. They both have more unicorns per capita than the US.

Spain also stayed out of both wars but had a domestic Civil War in the 30s, which had the same net effect of destroying their prospects.

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

#167

Post by TreeInBuxton »

edoceo wrote: post #107
TreeInBuxton wrote: post #84

Earlier quoted context omitted.

Depends on the tax - I pay my vehicle tax through the gov.uk website!

With CC or bank transfer?

By credit card, it's quite useful for the reward points - I'm fairly sure it was MC and Visa only (no AMEX) last time I did it, though that may change with this new payment provider

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

#168

Post by Magnets »

arjie wrote: post #6

Surprisingly small contract. It's interesting to see that a full government contract for a payment provider is a fraction of a US mid-size company's cloud bill. I am constantly surprised by things like this. Here's another: there are more foreigners in Taiwan (total pop. 25 m) than in China (total pop. 1.4 b).

If £8m/year is a fraction of a mid-size company cloud budget, I don't think you can class them as "mid-size"

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

#169

Post by m101 »

JumpCrisscross wrote: post #127
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.

Except your prices would have to be higher. Costco works on <0.5% margin, whilst these card fees are 1,2,3%+

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

#170

Post by m101 »

m463 wrote: post #142
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 solution to all these expenses is to just have the user pay the transaction costs. so the ticketmaster model?

Ticketmaster is a monopoly.

Customers paying the price would: 1) induce scrutiny from the public on visa a Mastercard (the monopolies) 2) encourage the competitive market amongst issuers to compress prices

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