Does any one use stripe.com, or have any other recommendations?

[K0608]

Morning! I'm looking to move away from Barclaycard as my merchant service, due to having to wait 35 days for the money to appear in our account, and it's lack of integration with Xero Accounting Software; there's not a reference generated when making a card translation via our virtual terminal, then then appears in the Xero direct feed, so reconciling the payments is a laborious process, as once the money appears in our account/direct feed (after 35 days), I then might have to work backwards to establish on what date the payment was taken, then go through the list of transactions on the virtual terminal website, and try to match it up. Luckily we don't take a lot of payments via the virtual terminal, otherwise it would be a nightmare.

Whilst our site isn't an e-commerce site (i.e. no shopping cart), it would be great to have a page on which the client can make payment. This page would probably be hidden, and the URL only given out once a client had committed to booking, or at least that's one way I thought it could work.

We don't take many card transactions currently, with 90% of our sales made via bank transfer, and our sale ticket price is between £200 and £700.

 

[Bainzee]

Thats an awfully long time to wait for your money to settle into your account. Merchant banks usually settle within 2-3 working days in general. Are you selling high risk products ie. furniture?

If you did use Stripe then you'll most likely pay at best 1.4%+20p for every transaction processed, whereas with a merchant bank you could get a rate as low as 0.23% on debit card.

There should always be a reference generated for every transaction and this should be reported within a online reporting tool that they should've given you for reconciliation purposes. You should contact Barclaycard about this as its normally standard procedure.

whats the nature of your business?

 

[James Rae]

OMG! I remember the early days of WorldPay and their 5-6 weeks ... iZettle are pretty good too apparently, although most of my mentees have been using PayPal for years with negotiated fees as low as iZettle and Stripe.

 

[K0608]

OMG! I remember the early days of WorldPay and their 5-6 weeks ... iZettle are pretty good too apparently, although most of my mentees have been using PayPal for years with negotiated fees as low as iZettle and Stripe.

Thanks, I had considered Paypal, but know of an instance whereby someone paid a company (similar to mine) via Paypal, and then had to cancel their booking due to illness. The company's Ts & Cs that the client had signed up to clearly stated that late minute cancellations due to illness wouldn't be refunded (and that that's the reason why cancellation insurance exists). The client then appealed to Paypal, who then issued a refund, leaving the company high and dry. Since then, I've avoided taking payments via Paypal.

 

[BerberLeather]

I've heard horror stories about Paypal but never encountered them when we've used them ourselves. I feel the advantage of Paypal is that for customers it's the recognition of the brand and knowing they are secure in using it.

We use Stripe as our main payment provider on our e-commerce site. We've used them for two years and I'm very happy with how they work. I feel like their fraud checks against bogus purchases are excellent and their percentage that they take compared to other merchants is low from what we have experienced. Also the payments don't seem to take long to come through to our bank account, I think you can also fast-track payments through but don't quote me on that.

 

[Nochexman]

We don't take many card transactions currently, with 90% of our sales made via bank transfer, and our sale ticket price is between £200 and £700.

Your profile says you are in the travel industry, which as you probably appreciate is considered high risk for card payments. As a result Stripe won't support you as it is against their acceptable use policy. What is the monthly value of your of your card sales?

 

[serendipitybusiness]

Did you know stripe doesn't integrate with xero either? I have found bankfeeds.io but I still end up exporting and reimporting the transactions every quarter to get everything on the statement (this isn't nessesary but I like to make sure everything is all in line)

 

[K0608]

Thanks for your replies. The conversations that I've had with Stripe's customer service, (I've explained what I do), have so far been pretty positive. With regards to Xero, it seems to be quite straight forward to set up a 'pay now' button, which Xero seems to make easy to then link it to a Stripe account.

 

[Nochexman]

The conversations that I've had with Stripe's customer service, (I've explained what I do), have so far been pretty positive.

Would be interested to know how you got on with Stripe? Would be interesting to know that they now support travel businesses.

 

[antropy]

Whilst our site isn't an e-commerce site (i.e. no shopping cart), it would be great to have a page on which the client can make payment. This page would probably be hidden, and the URL only given out once a client had committed to booking, or at least that's one way I thought it could work.

What about PayPal?

 

[K0608]

What about PayPal?

Thanks, but I heard of an incident whereby someone paid a company similar to mine via Paypal, having signed up to the booking Ts&Cs of that company. They then had to cancel due to injury or illness at the last minute, for which they wouldn't be entitled to a refund (as per the Ts&Cs), however, when told this by the company, they claimed through Paypal, which then awarded the refund.

 

[antropy]

Thanks, but I heard of an incident whereby someone paid a company similar to mine via Paypal, having signed up to the booking Ts&Cs of that company. They then had to cancel due to injury or illness at the last minute, for which they wouldn't be entitled to a refund (as per the Ts&Cs), however, when told this by the company, they claimed through Paypal, which then awarded the refund.

Yeah fair point, PayPal ignore your terms and just use their own.