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Hey pc I love your engagement in the comment threads. Few leaders at billion dollar companies hop on the comment threads with such care. Thank you!
by fblp 6y ago
Hey pc I love your engagement in the comment threads. Few leaders at billion dollar companies hop on the comment threads with such care.
Thank you!
- xoxoy 6y agotaking 2.9%+ of every sale is a lot though, no?
- jtsiskin 6y agoThey’re not a monopoly
- xoxoy 6y agoi didn’t say that. but it’s among the most expensive.
- switch11 6y agoAs you go higher in revenue it goes down I much prefer a company that takes a slightly higher percentage and provides a great service than the @#$# at Paypal who will freeze your accounts for reasons like 'your earnings are growing too fast' or 'you compete with our fellow silicon valley company'
- toomuchtodo 6y agoPrice is what you pay, value is what you get. I’d happily pay more for my Stripe accounts. They make my life easy, and that has value.
- xoxoy 6y agoit depends on what you value. most high volume businesses aren’t optimizing for developer happiness..they don’t want a business expense like payment processing taking 3% of every sale.
- toomuchtodo 6y agoIf you’re at high volume, you don’t pay Stripe retail rate.
- xoxoy 6y agosure - but smaller vol merchants with thin margins can also be sensitive to payment processing costs too
- itsoktocry 6y agoIs your point here that Stripe isn't the best solution for every merchant? That's not surprising. But they seem to do what they do well, and have a lot of happy customers.
- mbesto 6y agoIt's really not when you consider what else you have to do to accept payments from other providers. Do you research.
- oh_sigh 6y agoIt really depends
- elcritch 6y agoIt is a fair bit, but for any credit or debit card transaction they’re actually taking on the risk of essentially fronting the cost of the transaction. Well really their partnering bank does, but if something happens they’re left covering that cost. They also have to split the profit with their collaborating bank and possibly the credit card companies. Nowadays I suspect the risk isn’t all all that high, or at least not 2.9 less slim profit margin high. So in the end 2.9% isn’t highway robbery but they’re also not working on slim margins.
- xoxoy 6y agocostco offers payment processing for 1.99% + 25c (vs 2.9 + 30c), so quite a bit cheaper. my point is that it’s entirely possible to offer the same thing for cheaper if your main concern is cost, especially for higher volume merchants, and not optimizing for developer experience https://www.costco.com/merchant-account.html https://www.costco.com/merchant-account.html
- stu2b50 6y agoYour point is a complete non-sequitar though? How'd it go from "Patrick is very active on HN/with developer communication!" to "yeah but Stripe is expensive"? AFAIK they see themselves as a "premium" processor, not as a cheap one.
- xoxoy 6y agojust a reference to the company’s valuation - and how lack of regulation around interchange fees and payment processing fees has meant very high costs that would be a lot lower if the US were more like EU
- stu2b50 6y agoI don't see how that's a problem? There's no lack of payment processors, as you have noted, many with lower fees. If you choose Stripe, you're doing so for the dev experience, their ML whatever, better testing suite, integrations, etc. And you're doing that consciously.
- ErikVandeWater 6y agoHis comment is just recruiting PR. It doesn't deserve a thank you, but does show Stripe is in-tune with where the talent hangs out.