Payment Processor

[wellington]

Any recommended card payment processor for monthly/quarterly/annual subscription without FULL-Blown-KYC processing under a certain threshold (fine for funds to remain on platform).

Just haven't gotten round to establishing a new business vehicle yet and need to get a payment processor in-place for testing the site / application and feed back from user(s).

Before moving it to next stage.

 

[wellington]

Can't use Stripe (as it will be in personal initially and country not covered).
Can't use Paypal as country isn't covered unless legal entity established.

 

[daniels27]

wellington said:
Can't use Stripe (as it will be in personal initially and country not covered).
Can't use Paypal as country isn't covered unless legal entity established.
Click to expand...

Why not use a personal PayPal in a country covered?

Maybe Braintree. But that's PayPal too.

I think otherwise you are pretty much limited to aggregators like paymentwall.com 2co.com etc. as Visa and MasterCard won't just issue MIDs.

 

[FildaK]

What is the business model you will be covering ?

 

[wellington]

FildaK said:
What is the business model you will be covering ?
Click to expand...

Digital subscription to a terminal based system

 

[wellington]

daniels27 said:
Why not use a personal PayPal in a country covered?

Maybe Braintree. But that's PayPal too.

I think otherwise you are pretty much limited to aggregators like paymentwall.com 2co.com etc. as Visa and MasterCard won't just issue MIDs.
Click to expand...

Nah PayPal locked down here a few years ago due to tax evasion

 

[wellington]

Unless you can use PayPal for processing digital subscriptions - unsure if you can do that on a personal account

 

[FildaK]

• Paddle:
  • Pros: Acts as a Merchant of Record (MoR), reducing your compliance burden. Supports recurring billing and subscriptions.
  • Cons: Slightly higher fees due to the MoR model.
• PayPal (Standard or Subscriptions):
  • Pros: Easy setup, no immediate need for a full-blown business registration for lower volumes.
  • Cons: Limited customization, higher fees for certain payment methods.
• Chargebee (with Payment Processor Integration):
  • Pros: Comprehensive subscription management platform with payment integrations like Stripe, PayPal, and Braintree.
  • Cons: More complex setup; consider only if subscription management features are essential.
• Revolut Business:
  • Pros: Minimal setup for EU/UK-based businesses, supports subscriptions.
  • Cons: Limited compared to Stripe in terms of integrations and global reach.
• Braintree (by PayPal):
  • Pros: Good for subscription businesses, supports multiple payment methods.
  • Cons: More extensive KYC if scaling beyond testing.
• Paystack (if targeting African markets):
  • Pros: Great for African markets, supports subscriptions.
  • Cons: Limited outside Africa.

 

[wellington]

Paddle got a decline on URL (weird as its just AI product(s)).

 

[daniels27]

wellington said:
Unless you can use PayPal for processing digital subscriptions - unsure if you can do that on a personal account
Click to expand...

At least I'm certain markets, you can. Definitely worth a try to open a PayPal in let's say the UK or Germany and then use that personal account for testing. I can even receive website payments with me personal accounts.

Digital River may be another option but I expect their KYC to be full as with Paddle.

 

[wellington]

daniels27 said:
At least I'm certain markets, you can. Definitely worth a try to open a PayPal in let's say the UK or Germany and then use that personal account for testing. I can even receive website payments with me personal accounts.

Digital River may be another option but I expect their KYC to be full as with Paddle.
Click to expand...

Paddle didn't get to the KYC side lol

 

[Titibtototo]

wellington said:

wellington said:
Paddle didn't get to the KYC side lol
Click to expand...

try to buy ready accounts
Click to expand...

 

[usacpa]

Can you pay a colleague to use theirs if it's just for testing the API or integrations and it's for immaterial amounts. Like a friend's stripe account