Exploring Alternatives to Stripe – Your Input Needed!
Indie hackers and small business owners, we've all been there – waking up to the disheartening news that your go-to payment processor, Stripe, has frozen your account. Whether it's a sudden surge in transactions, security concerns, or other reasons, the impact on your business can be significant. In this article, I’m not just sharing my experiences but reaching out to you, the community, for insights and suggestions on viable alternatives.
Stripe has long been a trusted ally for entrepreneurs in the digital space, providing seamless payment solutions. However, the unpredictable nature of business can sometimes lead to unexpected challenges, like a frozen account. The question now becomes: What alternatives have you explored or successfully implemented when faced with such a situation?
I understand that each business is unique, and what works for one may not work for another. That's why I’m turning to you, fellow indie hackers, to share your experiences and insights. Have you encountered a Stripe account freeze, and if so, how did you navigate the storm? What alternative payment processors did you explore, and which ones proved to be a game-changer for your business?
I am happy with 2checkout and payproglobal payment gateways to process payments worldwide. I have been using these payment systems for several years, solved customer refunds with no problems. Turnover is about $15k/mo
Here's what I'll say:
If you use Stripe for 1 business, don't use Stripe for another. Use Paddle or Lemonsqueezy. Stripe bans people/identities, not businesses.
If you're running a business that's competitive to your MoR, don't use them as a payments processor. For example, I wouldn't use Lemonsqueezy because they're my competitor.
Unless you live in the EU, VAT compliance is mostly fear mongering. The government of Estonia isn't going to go after your solo indie business for $5k in unpaid VAT -- they don't even know you exist. Engage an accountant when/if you reach a stage where it makes sense to worry about VAT compliance.
Why does this post have a slight note of chatgpt in it ;) that buddy also just loves words like "seamlessly", "ally" or "navigating" something
Lemon Squeezy has been the go-to for me and my SaaS. It just takes the headache out of tax compliance!
i will say Gumroad
10% fee per sale, is too high.
right
Definitely Paddle or LemonSqueezy to avoid the headache of taxes. Note that for Paddle you need to be a SaaS, they will likely not except other niches like marketing sites.
LemonSqueezy doesn't support productized services.
So, the paddle is also the same?
We use Paddle, but I find them quite frustrating (few options to easily allow discounts for upgrades, few integrations with most affiliate networks, etc.).
Do Paddle support for Productized Services? Do they need also US company formation to open an account?
We discuss these often in our MicroSaaSHQ community. Many people need Stripe alternatives for various reasons. Paddle, LemonSqueezy are your close bets for SaaS and Gumroad for Digital Products.
I run a design subscription agency, LemonSqeezy doesn't support productized services.
Gumroad takes 10% which will be insane.
What about Paddle?