[bitfolk] Re: Stripe "Adaptive Pricing" - 4% loading for buyers

This seems like a good reason not to use Stripe any more! > On 18 Feb 2025 at 16:57, Andy Smith via BitFolk Users > &lt;users(a)mailman.bitfolk.com&gt; wrote: > > Hi, > > Stripe have been in touch to let us know that they plan to automatically > convert us to their "Adaptive Pricing" plan from 18 March. > > https://support.stripe.com/questions/adaptive-pricing > > From what I can tell this means they will guess what your local currency > is and charge you in that rather than GBP, and you will pay (them) 4% > extra for that. > > The FAQ page above does say that it will be optional at the point of > sale: > > Example: > > If the mid-market exchange rate is $1 = €1, and a US merchant sells > a $100 item to a German customer, the exchange rate applied will > include a 4% conversion fee ($1 = €1.04). In this case, the customer > will be presented with the option to pay $100 or €104. Regardless of > the customer’s currency selection, the merchant will receive $100. > (€104 / 1.04), less applicable Stripe processing fees. > > I do not yet know how that interacts with the majority of our payments, > which are automated and you give consent for at the time that the card > is added. Perhaps they will ask at that point, or perhaps this will not > be applied to such charges. I have to check into that more. > > But what are your thoughts? > > I feel like 4% is a bad deal for almost everyone, in that almost > everyone who cares about what non-local payments cost them is able to > get a card that charges them less than 4% — and in many cases nothing > extra. > > However, perhaps there are people with a worse deal. > > The option is apparently presented to the buyer, but I still don't like > that it's opt out for the buyer also. > > We can opt out but then no one gets the choice. > > I worry that those who don't care will not feel anything while those > who do care will be disappointed that the bad deal has to be opted out > of and may even feel like this is some sort of scam, thinking that > BitFolk would get the 4%. If that is the case this would be lose/lose > for us and we should opt out. > > What are your thoughts? > > Is there actually anyone who ends up paying 4% or more to pay in GBP on > their card? > > Thanks, > Andy > > _______________________________________________ > BitFolk Users mailing list &lt;users(a)mailman.bitfolk.com&gt; > You're subscribed as &lt;cnw(a)conradwood.net&gt; > Unsubscribe: < > https://mailman.bitfolk.com/mailman/postorius/lists/users.mailman. > bitfolk.com/> > or send an email to &lt;users-leave(a)mailman.bitfolk.com&gt;