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is anybody using stripe cc processing

Discussion in 'Black Hat SEO' started by dudemike, Feb 7, 2015.

  1. dudemike

    dudemike Power Member

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    hi huyz is anybody using stripe credit card processing, if you are are they good
     
  2. Lauriat

    Lauriat Power Member

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    I have been using Stripe for over a year, i could not be more happy, i 100% recommend stripe to anyone.

    They are completely opposite to paypal, they won't bother you with shit, they won't freeze your account without reason etc. Support is great, everything is great about Stripe. I love them.
     
  3. bradlex

    bradlex Newbie

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    I've been using them for 1+ year, no complains so far. The only inconvenience is 7+ days before money will be deposited on your bank account. Other than that - can't be happier.
     
  4. rjlarke

    rjlarke Newbie

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    Very easy and simple to use. But veeeeeeeeery expensive in comparison to the real CC processors. If you want a contract free, no credit check service then they are for you but if you run a real business then look for a real processor. Especially if you have a high average per transaction value.
     
  5. xha44a

    xha44a Power Member

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    I've been looking to make the switch over to Stripe from PP. Wondering if you guys can share a little of what you had to do for PCI compliance? My understanding is there are a whole bunch of hoops to jump through and wondering how costly or time consuming they are.

    Cheers

    XH
     
  6. LostConnection

    LostConnection Senior Member

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    This is exactly what I heard about them too, and am seriously considering implementing their payment gateways to my services, but still trying to pick out between a couple of them. Glad to see Stripe gets positive comments from fellow blackhatters as well.
     
    • Thanks Thanks x 1
  7. rjlarke

    rjlarke Newbie

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    Got to provide some documents to prove who you are via email. Nowhere near as time consuming as some of the real CC processors, it's a lot easier. I've used Payment sense, world pay and others in the past. Payment sense make you take an exam basically. But Stripe's % are astronomical in comparison. They are the low end high risk end of the market. They are to CC processing what Wonga are to loan companies.; They are easy to set up and more accepting but you pay for that. If you have a good enough business background to go with one of the established firms you'll save a hell of a lot of money.

    For instance most CC processors will charge you a flat rate of no more than 50p for processing Debit cards. Stripe was charging me 5%! With an average transaction value of £200 meant they were charging me £10 (1000p). They refused to distinguish between credit and debit cards like all the others do, so for me it was 20x as expensive to process debit cards. And 5% is expensive even for creit cards, if you look around you can get 3%. 50p for debit cards is on the expensive side too, 30p is achievable.

    EDIT

    I SEE THEIR RATE IS LOWER NOW (2.4% +20P).

    They still don't distinguish between credit and debit though. This makes them reasonable if your transaction values are low but a complete nightmare if they are high. With my £200 transaction value it would cost me £5.00 (500p) to process a debit card. Where as I currently pay 30p.

    I take in £30,000 a month via card.

    Stripe bill would equal £750
    My current processor £85 including monthly fee.
     
    Last edited: Feb 8, 2015
  8. jacobhagberg

    jacobhagberg Registered Member

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    Yes, Stripe works well. It also can integrate with Xero for accounting. *note Xero is awesome for account because it handles those paypal fees...so you don't have to manually enter them.
     
  9. redarrow

    redarrow Elite Member

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    Totally agree a local merchant account cheaper.

    if you take 30.000 a month your the man online in the internet marketing ?

     
  10. goldendeli

    goldendeli Regular Member

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    I have one business that uses 2checkout, which I'm not fond of given their ridiculous fraud protection that leads ot many false positives and causes a nightmare with clients. Respectively so given the fact that the fraud protection simply denies transactions over a mistype.

    Stripe on the other hand is a blessing, it's been a great service so far, easy to integrate and has many tools such as Baremetrics that is built on top of Stripe.

    To the person that says you can't differentiate between debit and credit that's incorrect. We've built our API to deny all Debit card transactions and VCC's.
     
  11. jak19

    jak19 Elite Member

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    do they work worldwide
     
  12. rjlarke

    rjlarke Newbie

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    It's only semi online. I offer a real world service and take most of that over the telephone but still through a CC payment gateway. Of course all of that is not profit.
     
  13. 1ksao

    1ksao Regular Member

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    I use Ballpark invoicing and it has Stripe CC processing and PayPal integrated. It's absolutely wonderful.
     
  14. rjlarke

    rjlarke Newbie

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    Not sure what you mean? Why would you want to deny all debit card transactions???? Are you suggesting that you can tamper with the rate they charge you? Or are you suggesting you disabled debit card transactions? If so, why the hell would you do that? They refused to lower the rate on debit card transactions for me.
     
    Last edited: Feb 9, 2015
  15. ja1myn

    ja1myn Senior Member

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    Stripe is where it's at. Definitely recommended.
     
  16. rjlarke

    rjlarke Newbie

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    If you like to rip yourself off, then they are where it's at.

    It's worth repeating for those of you who are inexperienced, there are much better options............ IF your average sales exceeds £20 ($, Euro, whatever). That is the point where you start mugging yourself. The higher your sale value the more you mug yourself. BECAUSE they charge a % on debit card transactions where EVERY other processor charges a flat rate of between 30-50 (pence or cents) per debit card transaction. By the time you reach a sale value of £40 you are paying 200-300%% what you would elsewhere. By the time you hit £100 it's around 500%. For me it would be around 1000% more expensive to use stripe.

    They are a BOTTOM END option who prey on the lazy, uniformed or those with no other option like a payday loan company (in that respect). Saying their better than PAYPAL is like saying, provident is better than Wonga. They both package themselves as an easy option and then charge the earth for it. If you genuinely call yourself a business person, do it right from the start.
     
    Last edited: Feb 10, 2015
  17. davids355

    davids355 Jr. VIP Jr. VIP

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    I use them as well. It's a fantastic service.
     
  18. boozie

    boozie Jr. VIP Jr. VIP

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    Stripe is the goods. I've been using them for about 1.5 years. Yes, a little pricey when compared to other cc processors but all in all a very good service. I would and have recommended them to friends and they've had the same experience. The 7 day hold is fine with me. Just make sure you have enough working capital to carry you thru the week so your business doesn't rely on daily or next day payouts.
     
  19. Brannan

    Brannan Regular Member

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    I use both Stripe AND paypal. Just to ensure that buyers have their choice, pretty sure ive landed more sales just because they had the option to choose their prefered way. Wish there was a sms service that could take 60$ ++ in payment tho, that would help my sales alot!

    All in all id recommend Stripe, happy with their services.
     
  20. nohnoh

    nohnoh Newbie

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    How do chargebacks work with stripe?

    I'm assuming they will close your account if too many build up. In addition, since the stripe account has banking account information like routing and account numbers, will the bank also take action?