You still need to have a payment provider / merchant account, so that part remains the same

For all I could see this is no different than any other payment gateway service. Well, it is different in one important way: you'll pay a higher percentage per transaction, since the middle man needs to make money somehow.

With Flowglad you’d pay ever so slightly less than you would with a vanilla Stripe integration which usually includes Stripe Billing. That total cost is 3.6% (2.9% per charge + .7% for billing) and $.30, whereas we’re 3.55%.

We’re not really trying to compete on cost. But we certainly aren’t more expensive once you include the cost of Stripe Billing.