Money January 9, 2020

Any Stripe alternative with per transaction fee alone?

ayyappa99

I see Stripe charges "2.9% + 30¢" where it won't work for smaller transactions. We will be having very small amount transactions in our product so when doing a transaction of 50¢, it won't make sense to give 30¢ to stripe.

Currently we are using RazorPay (Razorpay.com/pricing) but unfortunately looks like they don't have strong lead on international payments.

Thankyou

  1. 2

    No. Because the credit card companies charge a % fee, it is not possible for credit card processors to offer only per-transaction fees, profitably.

    However, your post's subject line and actual need are exactly the opposite. What you actually need is a credit card processor that charges "with % fee alone".

    1. 1

      I just noticed that stripe provides a different pricing for India - https://stripe.com/en-in/pricing . In this page they don't mention about the extra 30C part.

      As RazorPay is charging based on transaction percentage, expecting there could be alternatives.

  2. 1

    Hi. We often use http://mollie.com/

    Try to look on this

    1. 1

      Till date, i'm not aware of mollie! Thanks for the suggestion! Looks like a well known and used by many!

      However, this too has a flat additional pricing similar to Stripe making it not great for micro transactions :(

  3. 1

    Paypal has a micropayments option in which case you pay just 5 cents per transaction but it does come with a 5% charge so it only makes sense for very small payments.

    https://www.paypal.com/uk/webapps/mpp/micropayments

  4. 1

    I ran into this with Stripe too. My advice would be to simply add a 3% fee to each transaction. You are paying 3% because THEY are using a credit card, THEY should be responsible for paying the transaction fee.

    1. 1

      Do you offer alternatives methods of payments? As i assume by "THEY" you mean your users!

      1. 1

        Stripe has a feature where you can pay via ACH I think, and that doesn't require a processing fee. I could be wrong though.

        And yes, I mean our users.