Stora Pay is the first in-built and dedicated payment processing solution in the UK or European self storage industry, bringing lower payment processing fees to operators everywhere.
Until now, only large self storage operators could negotiate meaningful discounts on their payment processing fees. Stora Pay, a new payment processing solution from Stora, leverages the combined size of our customer base to secure huge discounts that all of our customers - big and small - can enjoy.
As a result, Stora customers can now enjoy up to 50% reductions on their payment processing fees.
More importantly, as we grow, we will unlock additional discounts for our customers.
What is Stora Pay?
Stora Pay is a payment processing solution built into Stora that lets us pass on huge discounts on fees to our customers. It is built on top of Stripe, so customers still benefit from processing payments through the world’s leading payments platform, and supports all popular global payment methods.
We have only been able to launch Stora Pay due to our rapid growth over the last three years. This is the first major benefit of scale we’ve been able to unlock for our customers, with many more to come in the future.
Your payment processing fees with Stora Pay are significantly lower than previously:
*these are the payment fees on the Stora Pro plan. Other plans have different payment fees. These fees are subject to change in future.
With Stora Pay, you still have a Stripe account with funds flowing through your account, and directly into your bank account. This also means you have access to industry-leading reporting and dashboards inside Stripe to help you manage and run your business. The Stripe App Store can also still be used to connect your Stora experience to thousands of third party services including accounting software, CRM, email services and more.
How can I use Stora Pay?
If you are a new customer signing up to Stora from 1st October 2024 onwards, you will automatically use Stora Pay. When setting up your Stora account, you will be invited to create an account with Stripe, which will activate your Stora Pay payment processing fees.
If you are an existing customer on Stora, note that we are not yet able to convert you across to Stora Pay. However, we recognise these reduced fees represent significant savings and are working on a process to manage switching and expect to have an update in the next 3-4 months.
Stora Pay can only be used by Stora customers. It is not available as a standalone payment processing solution.
Set up a call with us to learn more about Stora Pay.
Will Stora Pay fees get even lower in the future?
As Stora gets larger, we will hit pre-agreed targets that mean we secure additional discounts. Our intention is to be able to pass on additional discounts to our customers and bring even lower payment processing fees to the industry.
How does Stora Pay fit into Stora’s mission?
The launch of Stora Pay represents a huge milestone in the ongoing development of our business, and what we can do to benefit our customers. We have always been focused on helping our customers build the best self storage businesses possible, and a key part of that has been to help them keep costs down, so they keep more of their revenue to invest in growth.
As we continue to invest in growing Stora, helping our customers to grow the most successful self storage businesses comes down to doing two things exceptionally well:
- Help you to grow your revenue fast and efficiently - this means providing you with the tools you need to grow sales more effectively that your competitors.
- Help you dramatically reduce admin and operating costs - this means helping you automate away many of the recurring tasks that suck up your time.
At Stora, we're committed to continually innovating and finding new ways to support our customers' success. The introduction of Stora Pay is just one more step in our journey to empower self storage operators with the tools they need to thrive in today's competitive market.
View our new pricing and get in touch to learn more.
