Creem: The payment platform that calls BS on hidden fees

shipandsip.substack.com

9 points·John_McT··8 comments

Good, we need more competitors in this space. I'm using Lemon Squeezy and okay with it, but the fees are too high. There's also Polar that is new around the block. Worth checking out.

Gabriel made it really clear that the biggest reduction in fees will be for Europe-based founders. B/c a lot of current providers are US-based the Euros get nailed with international transaction fees.

Details are a bit later in the episode.

misleading. promise a payment processors saving on fees, but is really AI powered remarketing based on e-commerce metrics. lame.

What do you mean? Their marketing pages offer 0% rates for card acceptance

It’s completely unclear if that means 0% after the normal CC fees or 0% total. Also it’s only up to $1K, after that you are paying 3.9% (again, unclear if it’s 3.9% total or after CC processing). A lot of companies in this space obscure the true cost of processing until you are already signed up and using it.

It’s almost as bad as the infrastructure monitoring companies that never even ballpark the AWS cost (on top of their SaaS cost) you will end up paying to use their service (aka CloudWatch fees).

Those smiley, shifty eyed evangelist types give me scammer vibes

* subject to change at any notice, or once VC funds run out probably *

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