4 ms·

Payment processors(Visa, Master) , payment gateways(Stripe, Paypal...) and payment hosts (Patreon, Gumroad...) are a huge pain to deal with even when you're sel

Payment processors(Visa, Master) , payment gateways(Stripe, Paypal...) and payment hosts (Patreon, Gumroad...) are a huge pain to deal with even when you're selling something which is legal and risk free just because their algorithm or employees are often overcautious, anything out of mundane they'll ban first and then ask questions(if you're lucky). I have a FOSS project called Open Payment Host[1] which removes the payment hosts from the equation and removes the technical hassle of integrating multiple payment gateways but it does not solve the pain of having to deal with the payment gateways and by extension payment processors and banks. My long term plan is to integrate direct banking API where ever it's available. Is there any bank from any country which provides direct banking API to end customers for plain savings bank account (I've seen some provide for current accounts). [1] https://github.com/abishekmuthian/open-payment-host https://github.com/abishekmuthian/open-payment-host

flimflamm 1y ago
Have you looked in to "PSD2 and Open Banking regulation in Europe" ?
- Abishek_Muthian 1y ago
  I haven't, I will definitely explore it. Quick read on it seems very promising. Have you or anyone here any API in EU for getting payments directly to your bank account? I have started a discussion on this on OPH[1], I welcome any information on direct banking API in Europe in that discussion. [1] https://github.com/abishekmuthian/open-payment-host/discussions/4 https://github.com/abishekmuthian/open-payment-host/discussi...
  - Msurrow 1y ago
    Lunar Bank. I don’t have any experience integrating to their API myself but Lunar is a relatively new Danish (so EU) 100% digital bank. See https://www.lunar.app/en/personal/what-is-lunar https://www.lunar.app/en/personal/what-is-lunar They have an Open API: https://developer.openbanking.prod.lunar.app/home https://developer.openbanking.prod.lunar.app/home Edit: “new” in finance terms - started 2015.
    - Abishek_Muthian 1y ago
      This is great! Thank you. If I understood it correctly, Open Payment Host can register as a TPP and offer direct banking to its users. But a customer of lunar bank can't access the API directly?
  - _cenw 1y ago
    It sounds like you're about to reinvent Sofort, a (now defunct, or sold off at least) payment system that first worked on reverse engineered online banking and then PSD2 to mutually verify direct bank transfers.
    - Abishek_Muthian 1y ago
      Thanks for the information, Seems like Klarna the company which acquired Sofort and shut it down offers a similar service called "pay in full".
herbst 1y ago
I built a cool tool the last week's. I spent more time on evaluating payment processor than the code itself. I have ~5 projects in my shelf I did never launch because I didn't find a payment solution. Got instantly banned with all of them, had to write them an email wait for days to get some response. I usually just use crypto whenever it makes sense. And still have a hard time to believe that I can move as much as crypto as I want but a single payment from a Dubai account can get my bank account frozen for days ...
- jimjimwii 1y ago
  This is what i settled on as well. I maintain a side project that is completely legal and above board but i refuse to go through the nonsense i was forced to go through the last time i had to integrate with a credit card payment gateway (another side project that went belly up). If someone wants to buy something from me badly enough, they'll figure out how to get some bitcoin. I don't have the time and energy to deal with their arbitrary bullshit anymore.
  - herbst 1y ago
    Exactly. Same boat here, fully legal normal business. My main issue is literally having customers from middle east. I've had bank accounts frozen, PayPal reverting my business account to personal without notice, fees, crazy amount of fees everywhere ... So much pain for no benefit compared to crypto.
brikym 1y ago
I use Ko-fi but 95% of the fees go to Stripe and their processors (Visa etc).

flimflamm 1y ago

Have you looked in to "PSD2 and Open Banking regulation in Europe" ?

Abishek_Muthian 1y ago
I haven't, I will definitely explore it. Quick read on it seems very promising. Have you or anyone here any API in EU for getting payments directly to your bank account? I have started a discussion on this on OPH[1], I welcome any information on direct banking API in Europe in that discussion. [1] https://github.com/abishekmuthian/open-payment-host/discussions/4 https://github.com/abishekmuthian/open-payment-host/discussi...
- Msurrow 1y ago
  Lunar Bank. I don’t have any experience integrating to their API myself but Lunar is a relatively new Danish (so EU) 100% digital bank. See https://www.lunar.app/en/personal/what-is-lunar https://www.lunar.app/en/personal/what-is-lunar They have an Open API: https://developer.openbanking.prod.lunar.app/home https://developer.openbanking.prod.lunar.app/home Edit: “new” in finance terms - started 2015.
  - Abishek_Muthian 1y ago
    This is great! Thank you. If I understood it correctly, Open Payment Host can register as a TPP and offer direct banking to its users. But a customer of lunar bank can't access the API directly?
- _cenw 1y ago
  It sounds like you're about to reinvent Sofort, a (now defunct, or sold off at least) payment system that first worked on reverse engineered online banking and then PSD2 to mutually verify direct bank transfers.
  - Abishek_Muthian 1y ago
    Thanks for the information, Seems like Klarna the company which acquired Sofort and shut it down offers a similar service called "pay in full".

herbst 1y ago

I built a cool tool the last week's. I spent more time on evaluating payment processor than the code itself. I have ~5 projects in my shelf I did never launch because I didn't find a payment solution. Got instantly banned with all of them, had to write them an email wait for days to get some response. I usually just use crypto whenever it makes sense. And still have a hard time to believe that I can move as much as crypto as I want but a single payment from a Dubai account can get my bank account frozen for days ...

jimjimwii 1y ago
This is what i settled on as well. I maintain a side project that is completely legal and above board but i refuse to go through the nonsense i was forced to go through the last time i had to integrate with a credit card payment gateway (another side project that went belly up). If someone wants to buy something from me badly enough, they'll figure out how to get some bitcoin. I don't have the time and energy to deal with their arbitrary bullshit anymore.
- herbst 1y ago
  Exactly. Same boat here, fully legal normal business. My main issue is literally having customers from middle east. I've had bank accounts frozen, PayPal reverting my business account to personal without notice, fees, crazy amount of fees everywhere ... So much pain for no benefit compared to crypto.

brikym 1y ago

I use Ko-fi but 95% of the fees go to Stripe and their processors (Visa etc).