Amazon payment processing, that has done over $1 Billion in donations for Kickstarter, is being ousted in favor of startup Stripe.
Kickstarter apparently does not like Amazon’s new Log In and Pay service that replaced its flexible payment plan in June. Or perhaps it’s that Amazon is taking too big a bite out of crowdfunders.
Stripe’s payment requirements are 2.9% plus $0.30 per successful charge (with a volume discount of processing over $80,000/month), less than the 3-4% Amazon apparently has been charging. It’s possible that Stripe is playing the float as it’s website says: “Earnings are transferred to your bank account on a 2-day rolling basis.” See https://stripe.com/us/pricing
Stripe is said to be valued at over $3 Billion in this hot VC market.