What are your experiences with stripe pros and cons.

Trying to decide on stripe. I would love to know your thoughts and any pros and cons you have seen. Thank you in advance for your answers

asked about 5 years ago

2 Comments

We5BFinds says: April 28, 2020

The day after I signed up I had a sale on Stripe, so I at least know it works & others out there are using it.

Cesarmor says: June 10, 2020

They are trying to bully me into taking down an item just because they dont like it.I sell the item on other platforms and never had a problem. I am in the process of either disconnecting Stripe from my Bonanza account or closing my booth. I will not be bullied. Cesar

7 Answers

I have been using it for years on eCr… and had no problems.

Stripe may hold you payment for a 5 days for the first purchase, but after that, you get the next day or two.

Remember that there is no shipping from that payment format. You will need to go to Paypal or USPS or what shipping you use.

answered about 5 years ago

2 Comments

BookbinEtc says: April 24, 2020

Thanks for that info, Bette. As an aside, how do you like eC?

KazooDecor says: April 25, 2020

Or you can ship from Bonanza

There is a hold on the first purchase (mine was 10 days, this was revised for new member on 3/17/2020 to 7 days) as they say..after that the payments have been deposited in my bank within 24 hrs (or the next business day..in case of holidays and weekends).

On my website, since I added stripe my sales increased 2-3 fold and right now 70% or my sales are stripe (though right now that maybe virus driven) normally they run about 45-50%

Since I added it here in this booth last year when I bought a gold membership during the anniversary sale…about 60% of sales have been stripe/amazon. Here the increase in sales has been smaller….a few extra per month, but the since I added stripe there has been a slow increase.

No requirements for set balances…..the money is sent according to the schedule you set up…and is automatic (mine is set for everyday, ie the next business day)

And if you do not accept international here, then that really should not be a problem…however, there are several payment methods in the settings that allow for different international payment methods (which have to be activated to use…mine are not)

For international I just invoice through paypal..if they agree to all terms

answered about 5 years ago

ccmom
Reputation: 12648
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1 Comment

Atomicdiner says: April 25, 2020

Asked about International blocking because on Ebay, people had US addr but PP was outside US. Since you Must ship to PP addr, and I dont, needed to cancel sale. Ebay always sided with BUYER who could do no wrong.i

I had sripe a long time ago on another selling site. The very next day after signing up with them, I started to get all kinds of spam emails saying that I made a sale and had like 350.00 waiting in my account and it showed it was from Stripe., Of course it wanted me to click on a link which I would never do., this went on for about a week almost every day getting these messages, finally I contacted stripe they said I had no sale and that it was spam…Ok but what I do not understand is how I started getting these messages the day after I signed up with Stripe…I immediately deleted my Stripe account and never had another issue. So no, I would not use them again. I have used Paypal for many years with no issues.

answered about 5 years ago

misskeech
Reputation: 1958
See misskeech's booth

I would like to know too. Especially about how they impose the $15 chargeback fee. Is there any seller protection where they won’t automatically charge you the fee even if you win?

answered about 5 years ago

6 Comments

ccmom says: April 25, 2020

haven’t had that problem yet…I will check into it

ccmom says: April 25, 2020

The network fees for chargebacks are imposed regardless of whether you choose to dispute the chargeback, and regardless of the outcome of any given dispute. However, in the event that a dispute is ruled in your favor, Stripe will refund this fee to you at our expense.

MommyOf2QTsScentWork says: April 25, 2020

Thanks ccmom. I had some bad experience with the last direct cc payment processor Bonanza had. Can’t remember the name of it though. I had like 3 or 4 chargebacks which I got hit with their chargeback fee even though I won the disputes.

MommyOf2QTsScentWork says: April 25, 2020

It was really rare for me to have a dispute to begin with and then when I started using the cc processor I got a bunch all at once. So makes me very cautious about trying it again.

ccmom says: April 26, 2020

they also have a chargeback program..for an extra fee (added to fvf) the least expensive gives you 25,000..in which they automatically file and you never pay the 15.00…I don’t use it…but if I ever get any, I might consider it

MommyOf2QTsWaxWorks says: May 01, 2020

I took the plunge and signed up one of my booths for Stripe. If I have problems I’ll just disconnect it. Will see how it goes.

Ouch, 5 days WAIT for the first purchase, but after that, you get the next day or two. That would DELAY my quick shipping as I wont ship until I get paid.
Can you set it like Paypal where you ONLY accept payments from USA addresses as I dont want to have a payment from someone OUTSIDE the US ???(too expensive to ship things). Are you required to keep a certain amount balance in the Stripe account or can you drain it to next to nothing (like Paypal)?

Would also like to know if adding Stripe actually INCREASED your sales HERE on BONZ to make it worthwhile. T.I.A.

answered about 5 years ago

I used Stripe a couple years back when first offered, The started again about 6 months ago. I think it does help with sales, I have found one problem for me. It is not an easy way to give back a partial refund. I at times make a combined shipping partial refund and found I could not do it with Stripe. Other then that it works good

answered about 5 years ago

I’ve been using Stripe for several years, and I think for about a year or so here on Bonanza. No problems with it, and transactions have been smooth. I do think it increases sales, because it gives buyers options and not all buyers want to use Paypal (even though you can do a credit card purchase through Paypal, they make the process quite user-unfriendly).

answered about 5 years ago

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