Stripe Fees: Why Its Crucial to Set Up Your Own Payment Gateway Account

Establishing your own payment gateway account is essential for optimizing revenue as a CPO or a site owner. By having your own account, payments go directly to you, eliminating unnecessary fees associated with processing payments through a third party.

Impact on Your Revenue

When you rely on EV OS’ payment gateway account to process payments, additional fees can quickly add up. Here’s a breakdown of those fees:

• Stripe Payment Gateway Fee (USD): 

- For U.S-based sites: 2.6% + 27¢ USD (effective September 23, 2024).

- For sites outside the US: 2.9% + 30¢ USD + 1.5% for international cards (Currency exchanges will also incur an additional 1 % conversion fee from Stripe.)

• ACH Fee (Automated Clearing House): 

- For U.S.-based sites: 2.5% or $5 USD per payback (whichever is higher)

- For sites outside the US: $40 USD per payback.

Example Scenario:

• Charging Scenario: A user charges 60kWh at a site located in Canada.
• Payment Processing: Via EV OS U.S. stripe account (USD).
• EV OS Fee: 0.06 USD / kWh ≃ 0.08 CAD / kWh *1
• 1 CAD = 0.72 USD (1% Stripe conversion fee included)

Without Your Own Payment Gateway Account

Note: The ACH fee has not yet been deducted at this point.

*1: For reference only. The actual EV OS fee depends on individual contracts. 

*2: Payment gateway fee = $21.6 USD (Total Payment) x (2.9% + 1.5% international cards) + 30¢ USD = $1.25 USD. (Calculated by the payment gateway provider.)

*3: EV OS fee = 0.06 USD x 60 = $3.6 USD

*4: Your Revenue = Total Payment – Payment Gateway Fee – Total Tax – EV OS Fee = $14.45 USD (The final amount that goes to your account.)

*5: Your revenue, EV OS fee, and payment gateway fee in CAD are for reference only. The actual amount deposited into your account will be in USD.

With Your Own Payment Gateway Account

*1: Payment gateway fee = 30 CAD (Total Payment) x 2.9% + 30¢ CAD = 1.17 CAD

*2: EV OS fee = 0.08 CAD x 60 = 4.8 CAD

*3: Your Revenue = Total Payment – Payment Gateway Fee – EV OS Fee – Total Tax = 20.83 CAD

When you have your own payment gateway account, you avoid incurring fees from currency exchange. Both the EV OS and payment gateway fee are charged in your settlement currency.

Key Benefits:

• Savings: In this instance, having your own payment gateway account saves you approximately 7.65% in fees. This does not factor in the ACH fee.
• Faster Revenue Collection: Setting up your own payment gateway account speeds up revenue collection and minimizes transaction costs, ensuring more money remains in your pocket and improving your cash flow.

*Stripe pricing is calculated based on the settlement currency.