Debit/Credit Card Facility
Discussion
Looking to add debit/credit card facilities to our payment methods.
Been offed Stripe as it can integrate into our software, removing the need for reconciliation after taking payment as it goes straight to the customers account with us.
Cost is 20p + 1.9%, no monthlies.
My issue is, it takes 7-10 days to see my money, which is really the reason I am making the move to card payments, as cheques take forever. Currently the cheques cost £7.50 per month to bank, and by the time they get sent to me, I get enough to warrant a bank trip, and they clear, it's around 3-4 weeks til I get my money.
While I appreciate the Stripe method will reduce that time drastically, it still seems an age to get my hands on my money.
Are there any others that anyone recommends? We would probably only take £500-1000 a month on card to start with I'd imagine.
Been offed Stripe as it can integrate into our software, removing the need for reconciliation after taking payment as it goes straight to the customers account with us.
Cost is 20p + 1.9%, no monthlies.
My issue is, it takes 7-10 days to see my money, which is really the reason I am making the move to card payments, as cheques take forever. Currently the cheques cost £7.50 per month to bank, and by the time they get sent to me, I get enough to warrant a bank trip, and they clear, it's around 3-4 weeks til I get my money.
While I appreciate the Stripe method will reduce that time drastically, it still seems an age to get my hands on my money.
Are there any others that anyone recommends? We would probably only take £500-1000 a month on card to start with I'd imagine.
A weekly pay out is pretty common - especially for online payment gateways from what I've found. If Stripe integrates with your software and you're happy with the fees - I'd say go for it, you're unlikely to find the perfect solution and a weekly pay out is much better than higher fees or incompatibility with your shopping system.
rufmeister said:
Thanks for that surveyor.
Just grates on me having to pay for the transition, and also wit for my money, but that's business I suppose!
I am on a 90-day payment terms, 7-days would be amazing for me!Just grates on me having to pay for the transition, and also wit for my money, but that's business I suppose!
How easy and quick is the application process for Stripe? I am tempted to switch after looking into it.
matt-ITR said:
rufmeister said:
Thanks for that surveyor.
Just grates on me having to pay for the transition, and also wit for my money, but that's business I suppose!
I am on a 90-day payment terms, 7-days would be amazing for me!Just grates on me having to pay for the transition, and also wit for my money, but that's business I suppose!
How easy and quick is the application process for Stripe? I am tempted to switch after looking into it.
surveyor said:
It's a 2 minute online process. A lot simpler than the more traditional payment processors.
Yes, but Paypal was equally easy and they held all funds for 9 months!!If I put everything through Stripe and they did the same Id go under pretty quickly.
Do they impose restrictions, or has anyone had their accounts limited?
matt-ITR said:
surveyor said:
It's a 2 minute online process. A lot simpler than the more traditional payment processors.
Yes, but Paypal was equally easy and they held all funds for 9 months!!If I put everything through Stripe and they did the same Id go under pretty quickly.
Do they impose restrictions, or has anyone had their accounts limited?
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