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Stripe Acquires Touchtech

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Re: Stripe Acquires Touchtech

#41
post #33

Earlier quoted context omitted.

Because it would decimate checkout conversion to save a few basis points in fraud losses.

Is there any data on how much conversion rates drops when it's used?

It depends on the region but it can be as high as 30% from what I've read

Re: Stripe Acquires Touchtech

#42
post #31

Earlier quoted context omitted.

Sounds like you're in Europe, do you handle VATMOSS?

I built Quaderno to deal with the VATMOSS nightmare on Stripe. More information at https://quaderno.io/integrations/stripe/ . Let me know if you have any questions. Glad to help.

I've tried Quaderno in the past for a simple SaaS I built but found it didn't really work, it was a while back so I may be misremembering but I believe you couldn't use Stripe Billing's built-in free trial system with it, because the Quaderno checkout would create a new customer.

Re: Stripe Acquires Touchtech

#43
post #10
post #8

Earlier quoted context omitted.

There's more to that. Anti-fraud mechanisms that require additional action on user's side, lower the conversion rate. For example 3DSecure mechanism redirects customer to another site where user has to put a number received in a text message. My phone is in another room upstairs. I cancel the payment and tell myself I'll do it later. Of course I might do it, but I might forget about it or change my mind. Another exam…

Yeah 3dsecure is a pretty big hit to conversion rates. It kind of stinks being a vendor. Stripe charges extra for certain security pre-cautions but it doesn't do a great job at protecting against fraud on its own, where as 3dsecure does do a great job but it kills conversion rates since it's something a consumer will see. In the end, it's the seller that ends up having to pay the price. Either through fees for disput…

3D Secure v2 should be a lot better in the user experience regard. Most transactions should be frictionless, so the user never has to see it.
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