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One big difference between the two is that from what I understand is that with Stripe you use a shared merchant account where as with Paymill everyone get's the

by Hates_ 13y ago

One big difference between the two is that from what I understand is that with Stripe you use a shared merchant account where as with Paymill everyone get's their own. This explains why with Stripe you can be approved in minutes where as Paymill can take up to a few months at times.

gingerlime 13y ago
But as an end-user, why should you care if you use a shared merchant account or 'your own'? As long as I can set the name of the business that appears on the card transaction, you're fine. With stripe I could even customize this name. With Paymill, they force you to put http:// http:// in the beginning or some other stupidity...
- aquark 13y ago
  Would this have any affect on whether issuing banks accept or reject payments? This part of the process seams especially opaque and I've had far more customers than I would have expected have cards declined for no discernible reason. I wonder if shared merchant accounts are a plus or minus here.
pc 13y ago
> One big difference between the two is that from what I understand is that with Stripe you use a shared merchant account where as with Paymill everyone get's their own. (I work at Stripe.) What it even means to have a "merchant account" is shifting in the industry, so it's hard to be absolutely definitive, but: most of Stripe's transactions run through what would traditionally be designated as regular merchant accounts. At the same time, it's our belief that it shouldn't matter (which is why we don't expose this). There are properties that our users should care about -- that funds are held in their name, that the right thing appears on cardholders' statements, etc. How that's accomplished is an implementation detail that may change over time and which will depend on the payment instrument, country, and so on.
- jamiesonbecker 13y ago
  Great reply with just the right amount of transparency, technical detail, and candor. Pretty much what we've come to expect from Stripe :)

by Hates_ 13y ago

gingerlime 13y ago

But as an end-user, why should you care if you use a shared merchant account or 'your own'? As long as I can set the name of the business that appears on the card transaction, you're fine. With stripe I could even customize this name. With Paymill, they force you to put http:// http:// in the beginning or some other stupidity...

aquark 13y ago
Would this have any affect on whether issuing banks accept or reject payments? This part of the process seams especially opaque and I've had far more customers than I would have expected have cards declined for no discernible reason. I wonder if shared merchant accounts are a plus or minus here.

pc 13y ago

> One big difference between the two is that from what I understand is that with Stripe you use a shared merchant account where as with Paymill everyone get's their own. (I work at Stripe.) What it even means to have a "merchant account" is shifting in the industry, so it's hard to be absolutely definitive, but: most of Stripe's transactions run through what would traditionally be designated as regular merchant accounts. At the same time, it's our belief that it shouldn't matter (which is why we don't expose this). There are properties that our users should care about -- that funds are held in their name, that the right thing appears on cardholders' statements, etc. How that's accomplished is an implementation detail that may change over time and which will depend on the payment instrument, country, and so on.

jamiesonbecker 13y ago
Great reply with just the right amount of transparency, technical detail, and candor. Pretty much what we've come to expect from Stripe :)