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Stripe now supports ACH

 
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cosmicray



Posts: 7286

PostPosted: Tue Jan 12, 2016 2:20 pm    Post subject: Stripe now supports ACH Reply with quote

https://stripe.com/blog/accept-ach-payments

Quote:
ACH payments on Stripe cost 0.80%, capped at $5, with no monthly fees or verification fees. So, a $100 transfer incurs a $0.80 fee; any transfers above $625 cost $5. This can be especially useful if you routinely charge customers large amounts on a recurring basis.


IMHO, this is huge. This is like eCheck or IBAN. The lower fees will put pressure on PP to respond. When properly verified, no concerns about fraudulent card usage.
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viewfinders



Posts: 1561

PostPosted: Tue Jan 12, 2016 10:34 pm    Post subject: Reply with quote

Other companies I do business with that transfer money via ACH do not charge me anything.
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SheilaDeesPostcards
moderator


Posts: 4614

PostPosted: Tue Jan 12, 2016 11:45 pm    Post subject: Reply with quote

viewfinders wrote:
Other companies I do business with that transfer money via ACH do not charge me anything.
Do you mean you are receiving payments via ACH? There is seldom a charge to send a payment via ACH. The charge is when you receive an ACH payment.

This is like when PayPal & Stripe charge the merchant when they receive a payment. This would be another way for a merchant to receive money. Very interesting idea, but not sure how or if it would work with eCrater.
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dccollectibles



Posts: 2759

PostPosted: Wed Jan 13, 2016 5:57 am    Post subject: Reply with quote

I was thinking the same. They've been sending me ACH now for over 2 years. No news there. But...

If eCrater can add a way to receive ACH from a customer for the original purchase, AND that time can coincide with the 2 day rollover from Stripe...we may have something there!
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