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Tell HN: Stripe will never have real competition

1 points by NetOpWibby ↗ HN
It'd wild how payment processors don't want to do business with you until you've already made money within some threshold...but then, why would I need you?

Make it make sense.

This is why Stripe is so massive.

5 comments

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dcchambers
> Stripe will never have real competition

They aren't even the largest payment processing platform, so how can you say that?

IIRC Adyen (who we rarely see talked about on HN) processes a higher payment volume that stripe.

NetOpWibby
Does Adyen requires millions in revenue before starting with them?

EDIT: Looked in my email because I remembered contacting Adyen two years ago. They will refuse business with you if you're:

- In these specific industries[1]

- Not located within Adyen’s acquiring regions[2]

- Processing less than 5000 transactions a month

- Not using one of our partner platforms[3]

In my case, I did not fulfill their last two points. So like I said in the OP, Stripe will never have competition. Developers are able to get up and running fairly quickly. No one else seems to care about that.

[1]: https://www.adyen.com/legal/list-restricted-prohibited

[2]: https://www.adyen.com/global-payment-processing

[3]: https://www.adyen.com/partners/network

dcchambers
Did you look into Paddle or Lemonsqueezy as well? They target smaller businesses.
NetOpWibby
With Paddle, you need to submit domains to be approved. Approval can take four business days. On their website approval screen:

> Your website must link through to, or contain, your: terms of service, privacy notice and refund policy to be successfully approved.

I haven't tried LemonSqueezy, I'll check them out. Interestingly, Paddle and LemonSqueezy have the same pricing: 5% + 50¢.

EDIT: Seems like LemonSqueezy is for more suitable for digital goods like downloads. I don't see how I could use it for my domain registrar business.

NetOpWibby
Checkout.com has a $10 million annual volume minimum. PressPay, the smaller partner they redirect you if you're not worthy, requires a $500 monthly billing minimum.