I have been in comms with Luke on the above and wanted to air it for feedback.
Stripe is a very efficient out of the box payment solution that is easy to configure however the price you pay for this is Very High transaction costs per payment. Their out of the box cost for credit and debit cards is 1.4% per transaction so lets say £100,000 k of payments = £1,400.
We use Global Pay and DoJo and our costs are circa 0.25% on Debit Cards & 0.5% on Credit Cards this is a mean of 0.38% or £100,000 k of Payments = £380!!
My request would be that Luke and the team offer a White Label version of the Stripe Integration that allows brewers to either take Stripe out of the box or to pay a 1 off fee for the API integration of their own Payment provider of which there are really only 3
Payment Sense (DoJo)
Global Pay
World Pay
I look forward to your feedback as its a significant saving!
We’re certainly very keen to ensure our customers can take advantage of the best rates possible. I should also say that we don’t make any money on our Stripe integration, we’ve done the “plumbing” and then you’re free to negotiate your own rates directly with Stripe (which I know they’re open to).
A fee of 0.25% on Debit Cards & 0.5% on Credit Cards is an exceptionally good rate! Just to make sure we’re comparing apples with apples, does this apply to cardholder-not-present transactions, as all transactions using Breww’s Stripe integration count as (for now at least)? And is this fee in addition to the interchange fee or inclusive of it?
In answer to your question that the fees i have quoted include interchange fees and so long as the payment is made on line or through the payment link the rates above would apply. If payments are made over the phone the rate is higher.
This is why we are very keen to see if we can get a DoJo API integration enabled as well as stripe.
In addition if there is a collective interest in this i have been involved in setting up a collective purchasing entity in the past that if your customers are interested would allow us to use our collective purchasing power to dive the costs down even further with the 3/4 main pplayers?
Thanks Nick. It looks like DoJo’s API does support the API calls that we would need, which is good.
We did speak to Stripe in the past about group rates too, but whether they would come down to this rate, I’m not sure. It might be worth us having a chat with them, so we’ll look to do this and will let you know if there is scope for them to beat this rate.
If anyone else would like to see the DoJo integration, please give this a vote using the button in the top-right, as the number of votes is a key factor in how we prioritise which features to implement next.
Please let me know if we can be of any more help on payment card pricing as i think all margins are going to get squeezed in the next 18 months so every little bit will help!