Hacker News Reader

Comment by eole666 | Hacker News Reader

Stripe seems really expensive with poor support... Apparently they take more than 1.4% of your earning. For $400K, it's more than 11 200$. With that money you could hire a developer for a month or two and make him/her create a payment platform adapted to your needs and under your control.

View on HN

I'm not sure who would be willing to build a PCI, AML, KYC, compliant payment service that can accept credit and debit cards from most countries, for $11k USD.

Well you're right, if you create it from scratch. I was rather thinking about creating a simple payment handling module centralizing your bank's own pro platform and other things like paypal, apple pay ... etc

Most of those processing fees get paid out to the card issuer. Square has a good breakdown here: https://squareup.com/payments/our-fees

You're not getting away from those fees, no matter what backend system you're using to process cards. How do you think credit cards make money on those reward programs?

I'd wager the idea behind this isn't to avoid fees but to avoid being swept up in automated systems where they don't care to resolve because even at $400k, you're still "small fish" and you have to reach out to the admin of a industry forum just to get your issue resolved.

Yep, but at least you get payment on your bank account directly.. And for Apple pay, PayPal or things like that I imagine if it's done using stripe on top of that, fees of each platform add up with stripe fees ? Or maybe not ?

Reply on news.ycombinator.com