16 karma · joined November 11, 2012
Braintree which have an amazing reputation in the US, when they launched in Europe did so with their support still in the US, prices on demand and with paperwork requirement not even a bank would ask for to be emailed to them. Other then the support and pricing the other bits were sorted out quite quickly but for the initial customers the setup and initial period was a little choppy.
That said now I would wholeheartedly recommend Braintree in the UK based on a couple of clients more recent feedback. I suspect when Stripe launches a similar scenario will occur, so for them other then regulatory issues, I suspect the biggest issue is getting the support infrastructure in place, trained and modifying their processes to deal with different regs, as much as getting approvals and bank backing.
Of course as a merchant it's higher fees, has weird conditions attached to it and virtually all AMEX users have another credit card (indeed Amex provide me with a visa card for when I can't use my amex) so there is little benefit to supporting amex.
You may wish to change some of your terminology to match the rest of the industry a "reclaim" for instance I assume you mean a chargeback. You also mix the terms reclaim and refund in several places. Assuming you meant chargeback then a chargeback and a refund are two very separate things.
Also as pointed out the FAQ states only Euros are supported, I'm glad to hear that GBP is also supported I shall have another play in a bit. But how then is currency conversion reconciled?
Ultimately the site is littered with mistakes (mostly I'm sure due translation) and these reflect an image of service that's not quite finished.
This is no worse then any of the other payment processors in the UK but hardly the frictionless option that is in the US.
For those in the UK jumping for joy at a Stripe like payment gateway there is a bit of a gotcha it only supports Euros.
Also there is no details about who is actually processing the payments and several interesting and dubious (but again could simply be translation problems) statements about PCI compliance on the site which could make due diligence interesting.
Something to watch, but for UK merchants I suspect it may be a lot of work to get going so not quite the frictionless option people are holding out for. Be interesting to hear from a German companies perspective to see if similar issues exist on the paymill.de site?