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>* A merchant account and Spreedly for payments Can you explain why you go this route instead of something like Stripe?
by JBlue42 5y ago
>* A merchant account and Spreedly for payments
Can you explain why you go this route instead of something like Stripe?
- dangrossman 5y ago1. Stripe didn't exist 20 years ago. A merchant account was how you accepted credit cards online before Stripe. 2. Stripe costs more. I pay "interchange plus" which means a small markup over what Visa/MC/Amex charge to processors. A debit card can cost as little as 0.05% to charge, but Stripe will charge you 2.9%. 3. If Stripe goes out of business or decides they don't like my business, I'd lose my customers. Spreedly is a payment gateway agnostic credit card vault that lets me own the payment data and switch processors at will. If Stripe became cheaper or better in some way for me tomorrow, I could start billing my existing customers through Stripe tomorrow just by changing one token in my code.
- dbbk 5y ago> If Stripe goes out of business or decides they don't like my business, I'd lose my customers. I don't think this is true, Stripe always work with you to move customer data to another provider
- make_it_sure 5y ago3. it won't work quite like that. you'll get tons of failed payments, probably majority of them
- dangrossman 5y agoMy gateway has outages a few times a year, and I have switched to backup gateways including Stripe on those days with no issues.
- johnx123-up 5y agoSpreedly as a wrapper around other payment gateways may add additional fees. Please correct me if I'm wrong.
- JBlue42 5y agoThanks for the explanation.