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Re: [newtech-1] Considering doing online billing? Try Stripe.

From: Jonathan V.
Sent on: Thursday, June 20, 2013 12:53 PM

I honestly hate PayPal for many reasons ( changing api, multiple docs [often out of date] , things rarely work like they should )


they have one and only one decent feature that may make them worthwhile -- if you pay for their $30/month charge to use them as a Payment Processor (which you post CC# info to ) , you get:

a- Virtual Terminal ( like Square/etc - lets you take phone orders ) , all you need is a net connection
b- their Shipping System

The shipping system was really the key feature for one of my companies - which sells physical goods.  For $360/year, PayPal transparently processes the orders ( users have no idea who our processor is ); our staff just logs into paypal and can instantly print shipping labels for USPS UPS and FedEx.  The cost of integrating with each of these company's APIs , or integrating (and paying) a third party would have been far more ( in terms of the cost of development hours ) -- so would making staff copy/paste to generate each label.

If we didn't have a custom shopping cart, I had seen some plugins for Shopify,OfBiz and Magento that simplified the shipping label stuff -- but they charged monthly + transaction fees as well. PayPal ended up (oddly) being one of the best-in-class solutions and the cheapest.

For virtual goods or services, PayPal is not a good deal.  But their value-add , in terms of tools for physical goods ( which was designed and tested by those millions of eBay users ) is honestly pretty great.

On Jun 20, 2013, at 11:18 AM, Anthony Zeoli wrote:

The only thing I don't like about Stripe is how long it takes them to transfer the funds to your bank. I use it and it can take 3 to 4 days, where PayPal transactions are immediate and you can use your PayPal Mastercard if you need the money at that moment or if you need to transfer that money to a developer. With Stripe, the only method is receiving payment then transferring to the bank. You don't have the other two options. Or, at least I think you don't, unless I'm wrong.

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