Reading about Stripe fees, they go from 2.9%-3.9%. Those are not dismissable percentages for a business, and if on top the client is paying with a cc they might be giving away 6% of the price paid. Why would a business not set a merchant account instead? I get it if you want to get rolling quickly or some side hustle, but for any other business this doesn't seem to make sense. Maybe someone around here is more familiar with POS and Stripe? Tc 330k Yoe 11
That's 3% is for a merchant account. It's the same as any CC company.
Ah I thought it was on top
Stripe is great at self service. For SMBs that often fits into what they can handle as well. I’m talking with a platform that has 100k MAUs and they still use stripe and want to integrate further 🤷🏻♂️
How do you like mx?
That’s why developing countries like India is using Unified payment interface (UPI) for debit card (fraction of cost ),they are planning to expand this interface to credit card.
In the old days, authorize.net was super bullshit. Paypal was no better, despite what Elon said.
Paypal is complete shit no idea how it’s still up and running
Everyone knows what PayPal is.
How great are “merchant account” APIs versus that of Stripe’s API? Fine grained access control? How great are they at handling large amounts of traffic? How quick are they compared to Stripe (ie latency)? How securely do they transmit and store payment information?
Stripe's fees are actually pretty decent. You can technically get lower, but often requires an additional flat monthly fee, or certain transaction volume, or higher flat fees per transaction. For most new businesses I'd strongly recommend Stripe as a starting point, with the caveat that it should sit behind a simple abstraction so it can be replaced easily when the company grows up.
You’re misunderstanding the role PSP’s play in the money flow.
I probably do. Can you point out where
Stripe ease of use, fraud prevention, etc are worth it. Also not sure about Stripe specifically but usually the fees are negotiable and you can get fees lower than published if your order volume is high.
Im guessing liability? You can always sue the third party provider if something goes wrong. Better than being responsible for security and maintenance of the transactions yourself
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Set a merchant account?
A way to process credit and debit cards enabled by the bank itself
Oh I see, well my fear with that would be how easy to use their payment flow is