What are your recommendations for an alternative to PayPal and Stripe?

Which services offer similar products, but with better practices in regard to data privacy and data residency?

#Privacy #PayPal #Stripe #FOSS #Floss

The fact that only 2 American companies have a monopoly on such a large portion of online payment processing worldwide is problematic, to say the least.
@Em0nM4stodon Monero solves this.
@dormouse759 Many people don't have enough money to invest in digital currencies. Unfortunately this isn't an accessible solution.

@Em0nM4stodon you can always only buy what you're gonna use.
You know, it's a currency, don't invest in money. It's a stupid idea.

It's basically like saying that you can't accept Euro because not everyone has money to invest into foreign currencies. You only need to transact the amount you would pay anyway. (You can put some small discount to compensate for fees. I've seen people doing exactly that.)

@Em0nM4stodon you can't make a free (or at least privacy respecting) platform built on foundation of non-free technology (state money, FIAT), state is threatening companies with deletion if they don't log you. (KYC)
@dormouse759 For this to be accessible at this time, there would need to be a system that can ask buyers to enter their credit card information on a page and automatically convert this amount in digital currency to cover only the payment for them on the same page. Does a direct service like this exist?
@Em0nM4stodon why not store on your own wallet and keep pennies for later?
@dormouse759 This is on a seller's point of view. Sellers need to be able to also accept credit card payments, and not just digital currencies.

@Em0nM4stodon credit card payment *is* a digital currency.

And I have no knowledge on handling cash.

@dormouse759 @Em0nM4stodon Credit card payments are NOT “digital currency”. They involve a fiat currency backed by a government and commercial transaction processors will be heavily regulated by their local financial body (e.g. the Prudential in the UK). You’re digitally transacting a fiat coin. Completely different to the Wild West of cryptocurrency (including Monero).

@richh @Em0nM4stodon I am only going to comment with a joke. I don't feel evil today and don't wanna lose time on arguing over which we are clearly of opposite opinion.

"American scientists figured out how a fascist regime comes to existence."

And I'm going to attach an opinion which you probably don't agree with and is the reason why I wouldn't argue:

We need to reduce the influence of the government and corporations, not enforce it.

@dormouse759 @Em0nM4stodon You’re entitled to your opinion on crypto, and we certainly need to reduce the influence of corps. But don’t call a £/€/$ card transaction “digital currency” - that is objectively false. It’s a digital transaction of a fiat currency, completely different to a crypto coin defined digitally rather than by some committee or (quasi-)governmental body.
@dormouse759 @Em0nM4stodon
I can find a good deal on Euros by comparing exchange rates fom multiple scources, checking commission rates & choosing from dosens of financial institutions that deal in traditional currency exchange. Or if I'm feeling lazy I can use my bank card to make payment directly in Euros and let my bank handle the currency exchange for a premium fee.
I also trust the ECB, that my Euros will retain roughly the same purchasing power by the time I come to spend them. 1/2
@dormouse759 @Em0nM4stodon
Alternatively I could go to a website I never heard of, buy a currency I've never heard of and be assured of it's value by a company I've never heard of saying "trust me bro". Because the level of knowledge the average person has about crypto means that's about as accessible as it gets.
2/2
@Em0nM4stodon
I think Square is also a payment company (separate from Stripe?)
@hopeward Correct, I forgot about Square. But unfortunately, it's also a US-based company, with no real benefit over the 2 others.

@Em0nM4stodon
I wasn’t trying to promote, just offer more info.

Obviously more choices in this space would be better.

@hopeward do you know if Square currently requires an EIN to register?

@Em0nM4stodon

Do I need a Tax ID or EIN to use Square for business?

The title of this thread was updated from its original title: “New to square , need assistance”.   I recently decided to go with square instead of just accepting cash and checks. My business is services rendered not a storefront or a company with an inventory. I have yet to register my business yet ...

Square Seller Community
@hopeward @Em0nM4stodon square is also a databroker.

@Em0nM4stodon I believe the EU is trying to solve this by adding a third option https://wero-wallet.eu

I do believe they focus on sending and receiving money first, and paying online. In the future maybe payments in physical stores as well.

Wero - Digital payment wallet

Experience fast and secure digital payments with Wero’s wallet, enabling you to send and receive money between bank accounts in under 10 seconds.

European payment service providers | European Alternatives

A payment service provider (PSP) helps businesses process payments.

European Alternatives
@hook @snowuniverse Thanks! I'll look into it! Hopefully some can be used from Canada!🤞🤞🤞
@snowuniverse Do you know if this is available to sellers from Canada?
@Em0nM4stodon I don't know, you probably have to look it up on the site.
@Em0nM4stodon I often use Satispay but they operate only in Italy, France, Germany and Luxembourg at the moment.
In general it's better than PayPal in terms of commissions for merchants and customer service but I don't know regarding privacy (I just had a look at their privacy policy and there are a couple of parts so generic that they could do anything)

@oettam
Satispay is #AppOnly for whatever reason, so they're no replacement for PayPal. Same as Wero. Stupid fucks.

@Em0nM4stodon

@oettam @Em0nM4stodon Also AFAIK you need to have an account and it requires a phone number and codice fiscale.
@clergyman yes, and it is only available through the app as the other comment pointed out

@Em0nM4stodon Over here banks have started to create a system that is supposed to rival PayPal eventually.

Not betting on it ever getting somewhere.

Right now, you can send money from one phone to another phone and that's it. No one I know has ever used it: Wero it is called.

@Em0nM4stodon There are lots of payment processors (e.g. https://financesonline.com/best-payment-gateway-providers-in-europe/). (US) Worldpay is the classic online payment gateway. IZettle is Swedish but now PayPal-owned. The bigger problem is really all those platforms are backing onto Visa or Mastercard, which is a much harder duopoly to break. You could start a European Worldpay equivalent but Visa/Mastercard are still getting their cut.
What is the best European payment gateway? The best European payment gateway is Melio. This web-based accounts

Your online business or ecommerce site is not going anywhere without a capable payment gateway. This is true whether you are in Asia, the Americas, or Europe. In this article, we cover what you need to know about payment gateways especially made for the European markets. The key information presented here should help you deal with the European markets seamlessly.

FinancesOnline.com
@Em0nM4stodon For some but not all use cases they cover, I'm a fan of Liberapay: https://liberapay.com/
Liberapay

We help you fund the creators and projects you appreciate.

@rhys @Em0nM4stodon although it uses both Stripe and PayPal for payment processing so
@rhys Unfortunately it seems PayPal or Stripe is still needed to process payments with LiberaPay, so sadly not an alternative.
@Em0nM4stodon Hmmph. I too then am curious what alternatives are out there.

@Em0nM4stodon If there were similar products, people would use it. Not all of them, but at least we would know. 🫥😢

You could have a look on montonio, they have Bank payments via api, but only a couple of banks support it 🫥
Or another european provider like Mollie who offers all kinds of methods like Stripe

@Em0nM4stodon hmmm... i don't know if there are actually alternatives to these services.

From my personal experience, PayPal ABSOLUTELY sucks. If something goes wrong with your account, you don't even have support. They can fuck off and get bankrupt. On the other hand, Stripe doesn't suck as bad, although they are not ideal.

To be honest, i don't even know if there can be a decent way to manage payments, even if a new alternative gets created.
@Em0nM4stodon because people are already offering their "I've spent 10 s of googling services", quick list of payment providers I've *Actually* looked into:
- stripe (not the worst,as it seems to work for freelancers)
- woocommerce (actually is stripe payment)
- mollie (sounds like drugs, seems to be an actual serious competitor; rates very comparable to stripe)
- adyen (think that aims at larger shops, incl things like risk management etc, which sounds *worse* in terms of privacy,might be opt.)

@Em0nM4stodon Currently using Wise, though I'm not sure how they stack up on the privacy side.

EDIT: they work in Canada as well

@Em0nM4stodon

slow pay when you can? i can still “send checks” through my credit union. they try an e-method first, then print and mail a paper check at no extra cost to me.

@melioristicmarie Not every merchant can accept paper checks (this is super risky) and a lot of people don't even carry checks anymore. Unfortunately, this isn't a viable solution to process online payments.

@Em0nM4stodon

zelle, theoretically could work better at this, so far i’ve only had success with person-to-person. and that it has been wonderful for.

i’m hoping credit unions will collaborate on something. pleasepleaseplease

@melioristicmarie Unfortunately Zelle is only for the US it seems.

An online payment solution built from a collaboration of credit unions would be truly delightful.

@Em0nM4stodon
Square (https://squareup.com) offers very similar services to Stripe, including collecting tap-to-pay with your phone. They also have some backoffice stuff like inventory management, but that's not something I need so I don't know how it compares.
Account setup was all pretty painless.
Power your entire business | Square

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Square
@silvermoon82 Unfortunately, it's also US-based and no better for privacy or data residency.
@Em0nM4stodon
Right.
There's Moneris (https://www.moneris.com/en/about-moneris/contact-us), but they might be Canada-only, and I've only worked with them for mid-sized businesses so I don't know what they might offer for individuals.
@silvermoon82 How were they for data requirements and data protection to sign up, according to your experience?
@Em0nM4stodon
Nothing in my experience stood out as a red flag. Way way back they were right bastards to get software certified with, but as far a KYC and data protection they are okay.
@silvermoon82 Was it a long time ago, if I may ask?
@Em0nM4stodon
I've worked with them several times, most recently in the last 5 years. They've gotten better about web integrations.
@silvermoon82 Thank you, this is very helpful!

@silvermoon82 @Em0nM4stodon

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@Em0nM4stodon for transferring money between friends, i'm a fan of zelle if your bank supports it

@Em0nM4stodon

Dang I'd like to know.

Is Zelle any better?

@nlarson830 It's only for Americans it seems

@Em0nM4stodon

Oh... 😒

Hoping there is a solution 🤞