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Dont use Stripe


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Hello,

i got email from stripe that the reject my account and i cant do with them anything :(

 

i send back an email and asked why

 

they answer this:

Thanks for writing in.Unfortunately, we just do not feel comfortable working with your business atthe present time, as we believe your business presents a level of risk forcustomer disputes that we will be unable to support.

 

Once again, sorry to be the bearerof bad news, but please do let me know if you have any questions about Stripeor our policies.

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I'm not sure what all they use to approve merchants, I think they also take a look at your credit score and see if you have a history of chargebacks.

 

You may want to take a look at braintreepayments.com, they charge the same fees as Stripe and offer a similar backend. I've been working on a free WHMCS module for Braintree which should be released later today.

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You may want to take a look at braintreepayments.com

 

 

looked at braintreepayments as they are being recommended by the Google Checkout team as Google Wallet will not support Web Hosting when GC is closed down. but they seem too high

 

https://www.braintreepayments.com/pricing

 

Total costs are typically 1.8% to 2.6% of the transaction. Minimum cost is €100 a month.
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  • 3 weeks later...

From what I am seeing so far, I see no reason to use Stripe over Braintree. 1) Braintree are much faster at responding to emails. 2) They have phone support 3) They pay out way faster than Stripe. With Stripe you have to wait 7 days. With Braintree it seems to be 24 to 48 hours.

 

With the pricing being the same and offering free PCI scanning. I dont see a reason to use Stripe over Braintree.

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  • 4 weeks later...

I had high hopes for Braintree. However, in Australia, if you wish to accept payments in currencies other than AUD you have to open a foreign currency account for each currency you wish to accept. At $40 per month, per account the cost of accepting international currencies in comparison to Wordpay or Paypal would be therefore be astronomical.

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Well not really, if your client base is at a high enough level for the currency then you might well be better to do it, Bear in mind there would be no conversion rate to make, it would just be the $40 per month plus your normal transaction fees. In the long run gateways can cost a whole lot more than the $40 to keep a currency open.

 

if its $0.25 + 1.5% then that soon mounts up, 200 monthly sales on a currency will cost you $50 base charge each month. Also note that you rarely get the best exchange rate on a currency with the gateways so if you do convert there to your own currency it could cost you more.

 

For high volumes of sales, a $40 monthly fee is worth it i would think. I only have one currency open at my bank and any payment that comes in that needs converting costs me a fee on top of the normal transaction fees, so its definitely worthwhile considering if your sales can cover it for you.

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