Sellers who process payments using Stripe will see higher costs beginning in June. In an email sent to customers on March 8, 2023, Stripe said it would raise the additional fee it charges for for international card transactions from 1.0% to 1.5%. There will be no change to its standard 2.9% + $0.30 pricing for US card transactions.
Stripe also announced it would no longer refund the $15 fee it charges sellers who win a dispute. It wrote:
“Whether you win or lose a dispute, card networks charge Stripe a fee in either case. To cover these costs, starting June 1, Stripe will no longer return the $15 dispute fee for successfully contested disputes. The dispute fee itself is not changing. “
Stripe will also make two payment optimization features free for sellers and will turn on Adaptive Acceptance (which “prevents customer card declines using machine learning to dynamically optimize the details of card network requests”) and network tokens (which automatically updates card details when old cards expire) on all accounts.
Sellers may also pay more because of states that charge sales tax on certain Stripe products. (This has nothing to do with taxes on the items merchants are selling, which buyers pay, but rather, it relates to taxes that some states charge merchants on the services they use.)
Stripe explained: “Certain US states require us to collect sales tax on certain Stripe products. On June 1, we’ll begin collecting sales tax where applicable based on your business location, which you can review in the dashboard. Payment processing fees are generally not subject to sales tax.”
Stripe went on to explain: “The taxability of products and services varies greatly by location. Payment processing services are generally not subject to U.S. sales tax. Software-as-a-Service (“SaaS”) products which include revenue products like Billing, fraud prevention products like Radar, reporting products like Tax, and analytics products like Sigma, are generally subject to U.S. sales tax depending on the state.”
All changes will go into effect on June 1, 2023. You can find current pricing on Stripe.com/pricing. And more information about new costs is available on this page on Stripe.com.
Stripe said last month they were on track to process 1 trillion in payments.
All they have to do is negotiate with the big merchant banks which
Thrive capital is more than equipped to get the best terms for them. Just because a chargeback is incurred on them doesn’t mean claw it out of the customers wallet. I don’t hear anyone saying oh look They gave me some of the profit that was made from holding my money for a week. They can take a haircut