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Stripe increasing "instant payout" fees by 50%

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Re: Stripe increasing "instant payout" fees by 50%

#51

Post by silisili »

tiffanyh wrote: post #30
toomuchtodo wrote: post #23

Earlier quoted context omitted.

Stripe could choose to support FedNow instant payments and push these funds for pennies (up to $100k at a time), assuming the receiving institution hosting the deposit account(s) is set to receive on those rails. They would arrive within 20 seconds, per FedNow’s SLA. Only costs ~$25/month to plug into these rails, plus a few cents per transaction. https://www.frbservices.org/financial-services/fednow/organi... https:…

Interesting to see from that list that Bank of America, Citigroup, Capital One & PNC missing from the list. Appears they are still lagging in adopting FedNow (while Wells Fargo and US Bank have adopted)

Those listed(and many others) support RTP, which came first and accomplished the same thing. They probably see little incentive in adding FedNow any time soon.

Re: Stripe increasing "instant payout" fees by 50%

#53

Post by amatecha »

immibis wrote: post #48
notatoad wrote: post #16

Earlier quoted context omitted.

I don't think the bar for appearing on the front page of HN is "important news" This is mildly interesting, and maybe important for a few people. That's enough.

It's apparently lower than "I made a raycaster in 256 bytes" and higher than "I got banned from Stack Exchange for not supporting Israel". I can't really tell where the bar is.

Did I miss something? The most recent post with the word "banned" in the title was apparently 5 days ago...

Re: Stripe increasing "instant payout" fees by 50%

#54

Post by epgui »

pentagrama wrote: post #52

A more honest title to me: Stripe increasing "instant payout" fees from 1% to 1.5% on US Current title: Stripe increasing "instant payout" fees by 50%

The current title is fine. It’s a 50% increase (unambiguously), or a 0.5 percentage point increase (also unambiguously).

Re: Stripe increasing "instant payout" fees by 50%

#55

Post by sitzkrieg »

epgui wrote: post #54
pentagrama wrote: post #52

A more honest title to me: Stripe increasing "instant payout" fees from 1% to 1.5% on US Current title: Stripe increasing "instant payout" fees by 50%

The current title is fine. It’s a 50% increase (unambiguously), or a 0.5 percentage point increase (also unambiguously).

lets run away from math if it sounds bad!

Re: Stripe increasing "instant payout" fees by 50%

#56

Post by ggm »

Fees on payment methods are a good example of the kind of friction we wanted to get rid of, agreeing to use these intermediaries.

If we've just replaced stupid inter-bank 3 day cheque clearing bullshit fees with stupid microtransaction fees which are variable at-will by the guy in the middle, whats the point?

Money is regulated. Money flows should be regulated. This industry should be regulated, and the fees set to cost recovery, not profit point. If that reduces to one interchange agency per economy, I'd be fine: Nationalise them all.

Does it cost the CPU more to process $1b in one transaction than to process 10c?

Re: Stripe increasing "instant payout" fees by 50%

#57

Post by neurostimulant »

gnicholas wrote: post #45

What would be the reason for them to boost this fee right now? Is it just a pure profit play? That is, they think they can extract more cash from the people who are reliable instant-payout users (rather than losing them to standard payouts)? Does this portend anything for the company, in the way that not backfilling positions means that layoffs may be imminent? Or perhaps a corporate transaction like an IPO?

I imagine it's due to the increasing number of card-testing attacks which cost them money, increasing risk for instant payout.

Re: Stripe increasing "instant payout" fees by 50%

#58

Post by DangitBobby »

colecut wrote: post #5
VoidWhisperer wrote: post #3

The title feels a bit disengenious. Technically, yes, it was increased by 50% of what it was, but it is a shift from 1% to 1.5%, not up to 50% of each transaction.

That is what a 50% increase means.

Percent increases are kind of a weird metric in a lot of cases. This is one of them. It's not particularly informative.

Re: Stripe increasing "instant payout" fees by 50%

#59

Post by schmidt_fifty »

mike_d wrote: post #49
gnicholas wrote: post #45

What would be the reason for them to boost this fee right now? Is it just a pure profit play? That is, they think they can extract more cash from the people who are reliable instant-payout users (rather than losing them to standard payouts)? Does this portend anything for the company, in the way that not backfilling positions means that layoffs may be imminent? Or perhaps a corporate transaction like an IPO?

For any payment processor part of the fees you pay go to offsetting fraud (it is a cost just like servers or people). Instant payout is much riskier because if a bad actor is using Stripe to cash out stolen credit cards they have less time for the banks to detect and report it before the money is gone. As a result it has a higher cost to the company.

[dead]

Re: Stripe increasing "instant payout" fees by 50%

#60

Post by encoderer »

Stripe will nickel and dime you to death.

The last time I created an invoice manually it tried to upsell me on a far more expensive plan just so I can group things on an invoice. Even worse, adding a recurring product to a quote results in an upsell.

It’s honestly embarrassing. Feature-gating things with 0 marginal cost feels desperate.

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