Starting from 10th April 2023, Stripe is increasing its fees for card processing and disputes for UK customers, due to the rising network and service costs.
These changes will affect businesses that use Stripe to process their payments in the UK, which includes all Book That In customers.
Stripe’s card processing fees are changing as follows:
For UK issued cards, there will be two different fees – for ‘standard’ and ‘premium’ cards.
‘Standard’ cards refer to consumer cards issued by Visa and Mastercard – the vast majority of payments are made using standard cards.
‘Premium’ cards refer to commercial, corporate, or business cards issued by Visa and Mastercard.
- Stripe’s standard card fee will increase from 1.4% + £0.20 per transaction to 1.5% + £0.20 per transaction.
- The premium card fee will be 1.9% + £0.20 per transaction.
- International cards will have a fee of 3.25% + £0.20 per transaction, up from 2.9% + £0.20 per transaction, and EEA cards will remain at 2.5% + £0.20 per transaction.
Dispute fees, also known as chargebacks, will increase from £15 to £20.
It's important to note that this fee increase is solely a Stripe fee increase and has nothing to do with Book That In fees, which remain the same.
Here at Book That In, we understand how important it is to keep business costs to a minimum, and we work hard to deliver a market-leading booking system at small business prices. We have been looking into ways of reducing payment processing fees for our clients and will continue to do so. We will keep you updated with any developments in this area.