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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

#71

Post by makeitdouble »

amelius wrote: post #13
capableweb wrote: post #4

Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…

Aren't there open source libraries available that abstract away the payment processor?

You'd still need certifications to handle the info, and negociate with each issuer to get access.

From memory they have legal obligation to open an API and give access, but no real penalty if it doesn't work or is utterly garbage or impractical.

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

#72

Post by ddorian43 »

tallytarik wrote: post #61
ddorian43 wrote: post #28

Earlier quoted context omitted.

Can't find this on fees page https://www.paypal.com/al/webapps/mpp/merchant-fees . Which detail is it?

For Australia it’s on this page under Withdrawals Out of PayPal: https://www.paypal.com/au/webapps/mpp/merchant-fees Coincidentally they added the 3% withdrawal fee soon after Wise became a popular bank account option. PayPal was a great choice until then!

But it has a max-fee of $10 if you withdraw to an USD card, correct?

So you can open an USD card on wise and withdraw there?

But they probably have a limit? If yes, there's no workaround?

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

#73

Post by 02thoeva »

pjc50 wrote: post #54
02thoeva wrote: post #49

"UK businesses who are paying out in USD to a US-domiciled bank account will now incur a 1% fee, with a minimum fee of US$2.50." So if we get paid out a USD payment, into a USD account. We get charged just because we're registered in the UK? That's a huge impact on our business.

Presumably you've got a UK bank account, so you can just use that and take on the currency risk and transaction fees of Wise or similar?

We use Wise but their USD accounts are US-domiciled. So we have 3 options: - Continue paying out to Wise and incur an additional 1% fee (~$30k per year) - Use Stripe for currency conversion which is additional 2% fee (~$60k per year - Find a UK-domiciled USD account to pay out to. Might be possible - no idea really. Need to look into it.

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

#74

Post by GordonS »

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.com/questions/what-s-the-difference-b...

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

#75

Post by smca »

mytailorisrich wrote: post #19
capableweb wrote: post #4

Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…

What's the impact of not disputing chargebacks? If I'm going to be charged 20 euros whether I succeed or not then for small disputes I may not bother spending the time to submit evidence anymore... Edit: I see that they have a Chargeback Protection product with costs 0.4% per transaction in which case they " cover the disputed amount and waive any dispute fees without needing to submit any evidence " (another comment…

If you exceed dispute thresholds dictated by card networks, they can place you in a "dispute monitoring program".

The fines imposed can be very high if you don't take steps to mitigate disputes. We have a vested interest in ensuring businesses on Stripe aren't affected by these programs. https://stripe.com/docs/disputes/monitoring-programs

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

#76

Post by carlosjobim »

lotsofpulp wrote: post #16
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…

> 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…

> Is there anything stopping merchants from offering different prices to people based on different payment methods?

Yes, it is usually not allowed in your contract with the card payment providers. If you start doing it anyway - as some do - you risk them terminating the contract.

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

#77

Post by quelltext »

makeitdouble wrote: post #46
capableweb wrote: post #4

Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…

Adyen is relatively solid if you know what you're doing, Mangopay felt like a small hippie solution in comparison. The upside is Mangopay was pretty reactive when we needed a human to talk to, the downside being that many requests would just end in "tough luck, we're too smal for that" We ended up moving to Adyen for that reason.

Doesn't Adyen only take on established companies? You cannot just sign up and get started.

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

#78

Post by marcopicentini »

capableweb wrote: post #4

Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…

If a customer has already entered its credit card through Stripe for a recurring subscription, how do you migrate to another provider without asking again credit card?

Stripe locked us in.

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

#80

Post by rafram »

marcopicentini wrote: post #78
capableweb wrote: post #4

Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…

If a customer has already entered its credit card through Stripe for a recurring subscription, how do you migrate to another provider without asking again credit card? Stripe locked us in.

I’m not sure the intention is to lock you in. Giving businesses access to full credit card numbers does nothing but enable and encourage bad behavior.
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