Spreedly, TokenEx, Very Good Security are some that I'm aware of.
I'm surprised Stripe hasn't come with their own multi-processing router solution for enterprises at this point; whichever major payment processor who would do this, could become a de facto choice as primary or secondary payment gateway for enterprises requiring this.
Again, in my understanding is Stripe not forcing you to—-as a EEA business——settle USD in a US domiciled account; you can settle the USD in an EEA domiciled account and not incur the cost. If you then want to repatriate the money to the US with your bank, you can do so yourself.
I also just looked it up how much this costs with my bank, and it's a minimum fee of $25 + agent/intermediary bank fees on top of it, for amounts less than $5,0000.
I assume that Stripe can negotiate better rates though, but for the sake of simple pricing, and cost-averaging over different amounts (which are, given that they serve the long tail, likely heavy weighted on smaller amounts), it is not inconceivable that this 1% is closer to cost than one might imagine.
Banks starting to charge more for (crossborder) transfer, Visa/MC charge more for tokenized card payments, which they mandate adoption of, and most likely more of this.
> Ideally, you'll support at least two providers you can switch between, if you can afford the development of supporting two
It is however not that simple if you want to remember your customers payment information, and don’t want any PCI-DSS liability or obligations. You’ll need a card vaulting solution in the middle, which comes as additional burden (and cost!) on top of the other payment provider integration. There’s big volumes you need to process to offset all of this, and probably not ROI sensible for many.
As far as I understand, you can payout in USD on a EEA domiciled account, and you won’t be incurring any fees.
It’s the crossborder settlement which they charge for, which I don’t think is crazy, as it just reflects the underlying costs Stripe must be incurring themselves.
As someone who ran a business in multiple countries, the bank always charged similar fees for these transfers between accounts. Stripe letting me settle directly in the account where I want the money to land, rather than me having to log in to my bank and initiating a transfer manually where fees are ~the same is definitely a better option, which I’m happy they offer.
I'm surprised Stripe hasn't come with their own multi-processing router solution for enterprises at this point; whichever major payment processor who would do this, could become a de facto choice as primary or secondary payment gateway for enterprises requiring this.