If they could lower fees to 1.9% it would make my business grow much faster. With Stripe Connect, the end fee I have to charge those on our platform isn’t competitive with anyone else. Pretty much have to apologize about the high fees to our potential customers and hope that our other features offset the negative of the high fees. We do about 20k per month in charges so we aren’t big enough to get a “deal” but 3.4% on Connect charges means we are more expensive than literally every other competitor. It has resulted in us seriously considering using something like First Data which sounds horrible from a developer standpoint, but potential customers pointing out lower fees in other places makes it harder to compete. I understand there is are fraud concerns, but we have been with Stripe for over 5 years now, so one would think our risk profile would be well established. As it is now, our high fees subsidize losses from less established or reputable companies.
In 5 years we have had exactly one chargeback.
I am excited about nice books, but I am more excited about Stripe using some of their growing market clout to attain lower fees.
If they could lower fees to 1.9% it would make my business grow much faster. With Stripe Connect, the end fee I have to charge those on our platform isn’t competitive with anyone else. Pretty much have to apologize about the high fees to our potential customers and hope that our other features offset the negative of the high fees. We do about 20k per month in charges so we aren’t big enough to get a “deal” but 3.4% on Connect charges means we are more expensive than literally every other competitor. It has resulted in us seriously considering using something like First Data which sounds horrible from a developer standpoint, but potential customers pointing out lower fees in other places makes it harder to compete. I understand there is are fraud concerns, but we have been with Stripe for over 5 years now, so one would think our risk profile would be well established. As it is now, our high fees subsidize losses from less established or reputable companies.
In 5 years we have had exactly one chargeback.
I am excited about nice books, but I am more excited about Stripe using some of their growing market clout to attain lower fees.