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costco 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 ch
by xoxoy 6y ago
costco 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.
- xoxoy 6y agothere’s a high floor due to interchange fees that are set by the networks that processors have no control over.