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Thread: Stripe Payments UK

  1. #1
    Forum Master lofty100e's Avatar
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    Default Stripe Payments UK

    Hi, I am wondering if anyone on here uses the Stripe payment system, I have had a look at their site and it looks promising. They have lower fees than the monopoly provider who we all love, although the downside is that if you are found guilty in a dispute you cop a near £12 fine.

    What concerns me most though is that they do not have a copy of their terms and conditions for people to read before signing up. When this happens it always makes me wonder what the orgainsation is trying to hide and mekes me wonder how trustworthy they are.
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  2. #2
    Forum Master billsstamps's Avatar
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    Default Re: Stripe Payments UK

    Quote Originally Posted by lofty100e View Post
    Hi, I am wondering if anyone on here uses the Stripe payment system, I have had a look at their site and it looks promising. They have lower fees than the monopoly provider who we all love, although the downside is that if you are found guilty in a dispute you cop a near £12 fine.

    What concerns me most though is that they do not have a copy of their terms and conditions for people to read before signing up. When this happens it always makes me wonder what the orgainsation is trying to hide and mekes me wonder how trustworthy they are.
    Stripe might be worth considering for people with high volumes, serious sellers in ecommerce, and who are tech-savvy enough to do their own web development.
    For me it is non starter because I need an equivalent to Paypal's micropayments.
    Reviews reflect some start-up problems, but some people love it.
    See https://www.merchantmaverick.com/reviews/stripe-review/
    Rev Dr Bill Hopkinson,
    Retired professor





    BillsStamps

    around 50000 stamps listed, based in London

  3. #3

    Default Re: Stripe Payments UK

    I am not in the UK - but use stripe on one of my websites - and so far - even over paypal - it is used 95% of the time over every other payment method. I do hope a few of my market places look at it as a valid payment method.

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  4. #4
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    Default Re: Stripe Payments UK

    I see Comic Relief are using Stripe [amongst others] to take donations.

    https://secure.donate.comicrelief.co...810.1490091021

  5. #5
    Forum Master billsstamps's Avatar
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    Default Re: Stripe Payments UK

    Quote Originally Posted by Anniemcc2 View Post
    I see Comic Relief are using Stripe [amongst others] to take donations.

    https://secure.donate.comicrelief.co...810.1490091021
    Name:  stripe.jpg
Views: 67
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    Stripe’s costs and fees are fairly straightforward. The company charges a flat per-transaction fee of 2.9% + $0.30, regardless of card type or locality. The company does not charge an early termination fee, a PCI compliance fee, or a fee for refunds or failed payments; however, there is a $15 Chargeback fee per incident (refunded if the chargeback is reversed). Overall, Stripe’s pricing and business model resemble those of the mobile credit card processing company Square, but for online businesses.
    Like Square, the company’s standard policies regarding fraud prevention and prohibited business activities appear to be cause for complaint among several merchants. Two specific problems have been consistently reported in the complaints below this review and on other consumer protection websites. In one scenario, merchants apply for processing with Stripe and are informed that they are approved and ready to go. After processing one or more transactions, these merchants find that their payments have been frozen and their accounts cancelled due to their business’s engagement in prohibited activities of some kind. These cancellations appear to take effect with little or no warning, and merchants report difficulty resolving the unprocessed payments in a satisfactory and efficient manner.
    In the second case, merchants express confusion over their payments being held in a reserve account. This is a common fraud prevention practice that we don’t tend to penalize processors for, but it seems that Stripe does not effectively communicate its reserve policies to merchants or warn them when a cash reserve might be withheld. Merchants should be aware that Stripe reserves the right to “change the Payout Schedule or suspend payouts to your Bank Account should we determine it is necessary due to pending disputes, excessive or anticipated excessive Chargebacks or refunds, or other suspicious activity associated with your use of the Service or if required by law or court order,” according to its terms of service.
    Rev Dr Bill Hopkinson,
    Retired professor





    BillsStamps

    around 50000 stamps listed, based in London

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