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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

#181

Post by section_me »

pjan wrote: post #99
nik736 wrote: post #70

Earlier quoted context omitted.

Do you have any suggestion for "card vaulting providers"? This is interesting actually, store cards without PCI-DSS obligations and use those cards with the payment provider that makes the most sense at that point in time.

Spreedly, TokenEx, Very Good Security are some that I'm aware of. I'm surprised Stripe hasn't come with their own multi-processing router solution for enterprises at this point; whichever major payment processor who would do this, could become a de facto choice as primary or secondary payment gateway for enterprises requiring this.

hyperswitch[1] looks to be trying to work in this space.

1. https://github.com/juspay/hyperswitch

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

#182

Post by searchableguy »

01acheru wrote: post #2

Something needs to change in the digital payments sector. 1.5% is ok-ish but 3.25% to accept foreign cards in the EU is a lot of money! I understand that costs are higher when using credit cards because of the credit part that introduces risk, but in my case for example I have a debit card that runs also over Mastercard, so either I have the money or I don't. Why should a merchant be charged the same fee of using a r…

India built rupay, an alternative to visa and mastercard which has 0 charge to merchants. It is expanding internationally and works in neighboring countries.

Aside from this, most local payments happen over UPI so they cost 0 as well.

Visa and mastercard usage is declining in India since a few years despite rapid increase in digital adoption. Government banned master card, diners, express, etc issuance for not complying with local data storage rules for over a year and it did not impact much.

I think the solution is to run payment infrastructure at public level like many countries have done in Asia.

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

#183

Post by iam-TJ »

marcopicentini wrote: post #79

I don’t understand why fees are in percentage and not fixed. Transferring 100$ is not 10 times more expensive for them than moving 10$.

Possibly because the actual all-in cost including fraud set-aside is quite high and if a fixed fee were charged it would in many cases exceed the transaction value?

In other words, if it costs 10 units on average to process a transaction then the payment service isn't going to be worthwhile for any transaction less than 200 units. All transactions much higher than 200 units would see a reducing percentage of the transaction as processing costs.

Instead, everyone gets charged a percentage of the transaction value so that the large transactions subsidise those with a low value and this enables small value transactions to be seen as cost-effective by sellers.

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

#184

Post by mytailorisrich »

carlosjobim wrote: post #177
capableweb wrote: post #145

Earlier quoted context omitted.

From the very page you linked: > Dispute fees (also known as chargebacks) will increase from €15 to €20. Due to costs for managing dispute evidence submissions, we'll no longer refund this fee if the customer's bank resolves the dispute in your favor. It used to be that you got the fee refunded if it got resolved in your favor, but after the changes go into effect (10 April 2023), it won't be like that anymore.

Wow! In the language version they're showing me, they write the opposite. Translated from the page: "Changes for disputes Fees for disputes (also known as chargeback or recrediting) will increase from €15 to €20. If the customer's bank resolves the dispute in your favour, the full fee will be refunded." Edit: After doing some more research, it seems that it is only US customers that will lose their dispute fee. If yo…

In English (UK) it still says "* we'll no longer refund this fee if the customer's bank resolves the dispute in your favor.*" (so much for British English spelling, by the way)

But you're right that at least ub Spanish (Spain), French (France), Italian, Portuguese (Brazil) it says that the fee will be refunded if the dispute is resolved in your favour.

Oops.

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

#185

Post by Symbiote »

orangepanda wrote: post #23
lotsofpulp wrote: post #16

Earlier quoted context omitted.

> SEPA in EU is already something but it is taking ages for it to become an actual payment platform in everyday's life. Is there anything stopping merchants from offering different prices to people based on different payment methods? I assume the reason merchants do not list a discount for paying via SEPA or ACH or debit card or whatever local non credit card (and non Visa/Amex/MC) option, is because merchants benefi…

> Traders in the EU are not allowed to charge you extra for using your credit or debit card. https://europa.eu/youreurope/citizens/consumers/shopping/pri...

Here's a sticker at a large Danish supermarket showing it isn't necessarily that simple.

It says local and foreign debit cards are free, but Danish credit cards cost 0.9375% extra and foreign ones 1.75% extra. Maybe the rule only applies in the Eurozone?

https://imgur.com/a/UDnathK

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

#186

Post by 01acheru »

Aeolun wrote: post #161
01acheru wrote: post #20

Earlier quoted context omitted.

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.

It would be nice to work on a payment standard IMHO, it is something really world changing, but it isn't something that you or I can simply create in mama's basement and then post on medium to cater some attention.

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

#187

Post by jonp888 »

GordonS wrote: post #74

Yikes, these are substantial prices hikes! And what's this new nonsense about increased costs for "premium" cards? From here[0], it describes these cards as "Commercial, corporate, or business cards issued by Visa and Mastercard" - but why would Stripe charge more for the use of such cards? Surely the chargeback rate for businesses must be orders of magnitude lower than that of consumer cards? https://support.stripe.…

Processing rates for Consumer cards are capped by law in the EU(and probably still in the UK).

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

#188

Post by 01acheru »

searchableguy wrote: post #182
01acheru wrote: post #2

Something needs to change in the digital payments sector. 1.5% is ok-ish but 3.25% to accept foreign cards in the EU is a lot of money! I understand that costs are higher when using credit cards because of the credit part that introduces risk, but in my case for example I have a debit card that runs also over Mastercard, so either I have the money or I don't. Why should a merchant be charged the same fee of using a r…

India built rupay, an alternative to visa and mastercard which has 0 charge to merchants. It is expanding internationally and works in neighboring countries. Aside from this, most local payments happen over UPI so they cost 0 as well. Visa and mastercard usage is declining in India since a few years despite rapid increase in digital adoption. Government banned master card, diners, express, etc issuance for not comply…

This is exactly what I mean and what I would like to see in the EU. I think the digital Euro is meant to be something similar but it is still vaporware ATM.

Thanks for sharing!

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