5 ms·

- Are there any good (easy to use) payment processors available in Estonia (like Stripe) ? - Is your startup governed by specific laws for data privacy etc. -

- Are there any good (easy to use) payment processors available in Estonia (like Stripe) ? - Is your startup governed by specific laws for data privacy etc. - What about legal disputes, arbitration. How does that work for startups based out of Estonia ?

vages 8y ago
"Specific laws for data privacy": GDPR at the least.
kreetx 8y ago
No Stripe unfortunately..
martkaru 8y ago
1. There is EveryPay https://every-pay.com/ https://every-pay.com/ . You need to open an account in the LHV bank first before receiving payments. (disclaimer: me and our dev team built their tech platform) 2. All the EU data laws apply. 3. I guess it depends on how you specify it in your contracts, you could do the disputes/arbitration wherever you want. There is an overview of dispute options here: https://www.eesti.ee/en/entrepreneur/legal-aid/resolution-of-legal-disputes/ https://www.eesti.ee/en/entrepreneur/legal-aid/resolution-of... . For example, if you have a customer not paying their invoices that are below 6400 euro you could file an a request in E-toimik/E-file (a paperless court system) and the collection is automatic. You could also sue people "online" there. (disclaimer again, I lead the software architecture/development work on the E-file project.)
- fcolas 8y ago
  LHV is for the merchant account, it's needed for EveryPay. Their price structure is not fully pay as you go: - there're no setup fees; but - there's a fixed monthly fee—a so called terminal fee of 20EUR; and - then there're the transaction fees—about 2.2% which is much less (!) competitive than Stripe's fees in the EU—1.4%. Although I like what I've seen so far, as an app-developer, the fixed monthly fee wasn't acceptable. Plus, interaction with LHV was kind of painful (in this particular case, english was an issue).
  - martkaru 8y ago
    True, but EveryPay has 1 day settlement, instead of Stripe's 7 day settlement in the EU area, if that matters.
    - fcolas 8y ago
      Ok And back to LHV, I've seen the PayPal account verification deposit (two payments of a few cents made to one's account) appear extremely fast on the account—I think it was less than one hour.
iKristjan 8y ago
We're successfully using Braintree for about 4 years now and I know several other Estonian startups who do as well. https://www.braintreepayments.com https://www.braintreepayments.com
- fcolas 8y ago
  +1 A bit of back and forth for the KYC process, but the onboarding process and the team are quite good and to the point.

vages 8y ago

"Specific laws for data privacy": GDPR at the least.

kreetx 8y ago

No Stripe unfortunately..

martkaru 8y ago

1. There is EveryPay https://every-pay.com/ https://every-pay.com/ . You need to open an account in the LHV bank first before receiving payments. (disclaimer: me and our dev team built their tech platform) 2. All the EU data laws apply. 3. I guess it depends on how you specify it in your contracts, you could do the disputes/arbitration wherever you want. There is an overview of dispute options here: https://www.eesti.ee/en/entrepreneur/legal-aid/resolution-of-legal-disputes/ https://www.eesti.ee/en/entrepreneur/legal-aid/resolution-of... . For example, if you have a customer not paying their invoices that are below 6400 euro you could file an a request in E-toimik/E-file (a paperless court system) and the collection is automatic. You could also sue people "online" there. (disclaimer again, I lead the software architecture/development work on the E-file project.)

fcolas 8y ago
LHV is for the merchant account, it's needed for EveryPay. Their price structure is not fully pay as you go: - there're no setup fees; but - there's a fixed monthly fee—a so called terminal fee of 20EUR; and - then there're the transaction fees—about 2.2% which is much less (!) competitive than Stripe's fees in the EU—1.4%. Although I like what I've seen so far, as an app-developer, the fixed monthly fee wasn't acceptable. Plus, interaction with LHV was kind of painful (in this particular case, english was an issue).
- martkaru 8y ago
  True, but EveryPay has 1 day settlement, instead of Stripe's 7 day settlement in the EU area, if that matters.
  - fcolas 8y ago
    Ok And back to LHV, I've seen the PayPal account verification deposit (two payments of a few cents made to one's account) appear extremely fast on the account—I think it was less than one hour.

iKristjan 8y ago

We're successfully using Braintree for about 4 years now and I know several other Estonian startups who do as well. https://www.braintreepayments.com https://www.braintreepayments.com

fcolas 8y ago
+1 A bit of back and forth for the KYC process, but the onboarding process and the team are quite good and to the point.