Stripe launches new European payment methods(stripe.com)
stripe.com
Stripe launches new European payment methods
https://stripe.com/blog/european-payment-methods
22 comments
I used to work at a European competitor who integrate a lot of payment methods and would wondering what would happen to us when Stripe would start to do the same ...
(I work at Stripe) 6 down, many more to come!
I was really looking forward to Stripe implementing SEPA Direct Debit and moving away from my current provider, but at the moment the offering has 2 serious flaws compared to other services:
1) Pricing. Direct Debit usually has the advantage of being cheaper than cards, usually a small percentage with no fixed fee. I was expecting something like the US ACH fee (0.8%) or a fixed 1% maybe. 1.4% + €0.25 is pretty expensive compared to your main SEPA competitor (GoCardless is just 1% up to €2). The fixed fee makes it less competitive for smaller payment amounts, which is usually one of the SEPA DD advantages.
2) Own Creditor Identifier requirement. GoCardless allows using your own identifier under their Pro offering, but you can also use their own shared identifier as an individual or small business. One of the main advantages of using Stripe is avoiding traditional banks, but getting an ID requires dealing with them and is pretty cumbersome or even not possible in some banks, specially for non-business accounts (and they also expect to handle your direct debits, not just provide you with an ID).
Any plans to change these soon?
1) Pricing. Direct Debit usually has the advantage of being cheaper than cards, usually a small percentage with no fixed fee. I was expecting something like the US ACH fee (0.8%) or a fixed 1% maybe. 1.4% + €0.25 is pretty expensive compared to your main SEPA competitor (GoCardless is just 1% up to €2). The fixed fee makes it less competitive for smaller payment amounts, which is usually one of the SEPA DD advantages.
2) Own Creditor Identifier requirement. GoCardless allows using your own identifier under their Pro offering, but you can also use their own shared identifier as an individual or small business. One of the main advantages of using Stripe is avoiding traditional banks, but getting an ID requires dealing with them and is pretty cumbersome or even not possible in some banks, specially for non-business accounts (and they also expect to handle your direct debits, not just provide you with an ID).
Any plans to change these soon?
Hey HK2! Sorry for the delay.
1/ On pricing, get in touch for volume-based pricing: https://stripe.com/contact/sales
2/ On creditor identifiers: having your own creditor identifier makes your business more visible to customers on their bank statement, and can reduce the risk of chargebacks which are inherent to SEPA Direct Debit. True, you need to get one—possibly something we hope to help with in the future—but banks cannot force you to process SEPA debits with them. It is their duty to provide one to you. If you're not a business, there can be reasons to proceed with caution on SEPA Direct Debit, not least of which is the risk of chargebacks. I'd love to hear more about your case to see how Stripe can improve: my company email is just gabriel@.
1/ On pricing, get in touch for volume-based pricing: https://stripe.com/contact/sales
2/ On creditor identifiers: having your own creditor identifier makes your business more visible to customers on their bank statement, and can reduce the risk of chargebacks which are inherent to SEPA Direct Debit. True, you need to get one—possibly something we hope to help with in the future—but banks cannot force you to process SEPA debits with them. It is their duty to provide one to you. If you're not a business, there can be reasons to proceed with caution on SEPA Direct Debit, not least of which is the risk of chargebacks. I'd love to hear more about your case to see how Stripe can improve: my company email is just gabriel@.
Can we get accepting payments outside of Hong Kong for less than 5.4% fees first for HK stripe businesses.
Also allow transfer to US denominated bank accounts.
That would be super.
Also allow transfer to US denominated bank accounts.
That would be super.
Hi j0rd - thanks for the feedback. USD payouts in more regions are definitely something we're planning on building support for.
More european ones? Nets maybe?
Hi JohannesH - which country and business case(s) are you most interested in?
I'm interested in the nordic countries especially norway and denmark where nets are the most used payment provider.
One business case is that I'm currently working for a company with a fairly large public email service. We have a lot of difficulty handling subscriptions on our current payment provider "epay" who like you is an abstraction on top of the card procider nets.
One business case is that I'm currently working for a company with a fairly large public email service. We have a lot of difficulty handling subscriptions on our current payment provider "epay" who like you is an abstraction on top of the card procider nets.
Not OP but if you added the British Crown Dependencies (Channel Islands, Isle of Man) you would have some very happy clients here. These aren't the biggest markets and they are frequently ignored. However some larger tech companies like AWS, OVH, and DigitalOcean do serve this market and correctly handle our UK VAT exempt status. Fingers crossed...
Can we get other methods for checkout.js? :)
Hi herbst - thanks for the note. No immediate release dates for that but we are focused on offering straightforward integration solutions that cover as many of the payment methods we support as possible.
All i wanted to hear, i really love your service and checkout.js is so easy to integrate. When i go for the other options as well i could almost roll my own with the same amount of time (not really, but you get the point). It would be really awesome to see at least PayPal and maybe Bitcoin in the available options for the checkout.
Stripe finally got giropay and sepa-debit. I'm still trying to find a good european alternative in case I start selling things online but it's getting harder and harder to find any company that comes close in terms of quality.
have a look at switch payments as well
SEPA is restricted to the Eurozone, according to the docs. When will you support SEPA for Swedish or UK businesses?