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Cheap Recurring Payments with Stripe and AWS Lambda

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Re: Cheap Recurring Payments with Stripe and AWS Lambda

#21

Post by oliwarner »

pbowyer wrote: post #18
oliwarner wrote: post #15

~3%, dirt cheap?! Why are so many of you so happy to throw so much cash away to process money? I know Stripe is lovely to integrate but as a business you have to shop around. In the UK (and EU) card processing is much cheaper. Stripe is closer to 2% but if you shop around, you'll find somebody who'll offer you 0.8-0.9%, give you free terminals and no monthly contract fees. Edit for those asking: Worldpay and Handepay…

Is that for offline processing in a lowest risk industry? Curious as never seen a client get such a rate. Esp once acquirer fees for online payments are factored in (UK experience only)

Both. Moderately low risk, moderate volume.

I'm not saying everybody will get those rates, just that I'm surprised that people settle for 3% without a fight. At scale, that's a huge amount of money for a little convenience.

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#22

Post by gerenuk »

fenesiistvan wrote: post #16
neximo64 wrote: post #14

Earlier quoted context omitted.

You can use Atlas cant you?

It is a bit overkill to establish a US company just to be able to accept payments. The only real alternative is PayPal at this moment.

Check out fastspring.com

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#23

Post by oliwarner »

kagx wrote: post #17
oliwarner wrote: post #15

~3%, dirt cheap?! Why are so many of you so happy to throw so much cash away to process money? I know Stripe is lovely to integrate but as a business you have to shop around. In the UK (and EU) card processing is much cheaper. Stripe is closer to 2% but if you shop around, you'll find somebody who'll offer you 0.8-0.9%, give you free terminals and no monthly contract fees. Edit for those asking: Worldpay and Handepay…

Would you mind sharing those companies? I'm especially curious since Stripe is not supported in my Country.

Have edited. Even if the rates you find aren't as good locally, still shop around and play them off each other to get a better rate.

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#24

Post by oliwarner »

gajus wrote: post #20
kagx wrote: post #17

Earlier quoted context omitted.

Would you mind sharing those companies? I'm especially curious since Stripe is not supported in my Country.

https://www.paydoo.com/pricing is one example, > starting at 0.59% + £0.20 adapted to industry type and risk level

Phwoar!

Edit: Weird that they don't appear to service bricks and mortar retail. They can be much more secure (cardholder present, PIN entered, telephone verified) and therefore lower risk.

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#25

Post by imron »

oliwarner wrote: post #21
pbowyer wrote: post #18

Earlier quoted context omitted.

Is that for offline processing in a lowest risk industry? Curious as never seen a client get such a rate. Esp once acquirer fees for online payments are factored in (UK experience only)

Both. Moderately low risk, moderate volume. I'm not saying everybody will get those rates, just that I'm surprised that people settle for 3% without a fight. At scale, that's a huge amount of money for a little convenience.

Because people don't start off at scale, and because setting up a merchant bank can be a difficult hassle (more so if you're looking to accept multiple currencies), and because the cost of implementing features provided by stripe exceeds the amount lost in extra fees.

Once you hit scale it might be worth switching, but for many smaller sites Stripe is much more viable.

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#27

Post by jacquesm »

fenesiistvan wrote: post #9

The problem is that Stripe is still not usable in the half of the world, including my country, Romania.

I've lived for some time in Romania and I think I can see both sides of the issue here.

Romania has some problems and companies like Stripe have to decide whether it is worth it to them to open up to a country that would in turn most likely (at least initially) yield relatively small volume in real transactions and a disproportionate amount of volume in fraud.

From the Romanian point of view this sucks because those Romanians that would make something nice and use this to move themselves and by extension Romania forward don't get the chance to do so.

Personally I think the initial problem is with Romania, if rampant fraud and corruption were not so widespread then other service providers would feel more secure in opening up to the country and giving it a higher trust level.

But given the way Romania practices politics I do not see any major improvement happening any time soon, which is a huge pity. I love the country and I love the people but the business climate and the government are terrible.

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#28

Post by oliwarner »

imron wrote: post #25
oliwarner wrote: post #21

Earlier quoted context omitted.

Both. Moderately low risk, moderate volume. I'm not saying everybody will get those rates, just that I'm surprised that people settle for 3% without a fight. At scale, that's a huge amount of money for a little convenience.

Because people don't start off at scale, and because setting up a merchant bank can be a difficult hassle (more so if you're looking to accept multiple currencies), and because the cost of implementing features provided by stripe exceeds the amount lost in extra fees. Once you hit scale it might be worth switching, but for many smaller sites Stripe is much more viable.

It's hassle. Much less than it used to be. It's also 2-point-whatever percent of all your revenue. The tipping point isn't as far out as you might think.

I'm not pretending it's for everybody, again, I'm just shocked that "oh we'll use Stripe because it's easy and cheaper than PayPal" is the group mentality (esp here).

Re: Cheap Recurring Payments with Stripe and AWS Lambda

#30

Post by therealmarv »

gajus wrote: post #20
kagx wrote: post #17

Earlier quoted context omitted.

Would you mind sharing those companies? I'm especially curious since Stripe is not supported in my Country.

https://www.paydoo.com/pricing is one example, > starting at 0.59% + £0.20 adapted to industry type and risk level

That's really interesting. Do you have more examples? Thank you for the suggestion. Stripe is only the best known and is well integrated with other systems. When you use something like Paydoo you have to write e.g. your invoice email system yourself (and for stripe there are third party services which can handle that for you). So Stripe has benefits regarding the ecosystem around it.

Edit: Seeing there is also a currency conversion fee (is there something similar on stripe?). I mean with currency conversion+paydoo regular rates you get close to Stripe rates!

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