Payments With Stripe Just Made Easier - Fuck Paypal

[guerilla]

It's the small sellers that Paypal definitely doesn't treat right.

When you're doing $100k+ a month, they give you a dedicated rep you can directly call, and you can make requests about your account.

It's not amazing service, but it's not so bad.

That said, I really like Stripe too.

 

[mituozo]

Stripe "get" developers. I think this helps their visibility a lot.

I love companies that get developers.

Twilio for example is one of my favourite companies. What they did with telephone stuff is awesome. I've made so much random shit so much easier using their API.

If you can take something complicated and make it dead simple for developers to integrate (e.g. the whole process of applying for merchant account, getting approved, using your shitty banks merchant api to try and get transactions through, etc..) you're onto a real winner.

 

[bluechinagroup]

Why use stripe over a regular merchant account ...? Just wondering why no one brought that up thus far.

It's a bad idea to put all your eggs in one basket when it comes to credit card processing. Big merchants usually have several merchant accounts as well as other processing solutions. It reduces risk significantly.

Oh yeah one thing that sucks about Stripe is they pay weekly. A MID directly from a US bank for example has daily settlements.

 

[guerilla]

I should mention, at high volumes, Paypal will ask for a permanent reserve. @$80k/mth, I think they wanted around $30k held back as reserve.

I used two other third party processors, the first went tits up, they had 6 month rolling reserve. So they cut you 50% after 2 weeks or 30 days, and kept the other 50% for 6 months, then released that back.

So if you had a cashflow model that could handle 6 months @ 50% in the beginning, you could leverage something like that.

When they went tits up, they owed me quite a bit. I didn't have better options at the time.

Excellent learning experience.

 

[dchuk]

Stripe "get" developers. I think this helps their visibility a lot.

Stripe is actually really only for developers, though with the third party integrations coming out now, more and more people will have stripe accounts.

But Stripe recently released this: https://stripe.com/connect which allows your users to create a Stripe account through your product. So like with Themeforest for instance, they could set this up and their theme sellers can get their own Stripe account and directly accept payments into it, without ever directly dealing with Stripe.com

It's god damn brilliant, and Stripe will absolutely be leading the payment provider space in the next 5 years or so. I could also absolutely see them being acquired by Square or vice versa or Apple/Google/Facebook swooping in and buying them all.