Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Stripe Corporate Card

stripe.com

Post reply on HN
Print view View original

71–80 of 257 posts

Re: Stripe Corporate Card

#71

Post by [deleted] »

hkchad wrote: post #52
philip1209 wrote: post #42

Our company Moonlight was an early beta tester of the Stripe Corporate Card. Each person on our distributed team of five has a card, and it's made things like arranging travel or covering minor SaaS charges simple. Happy to answer any questions about the end user experience!

Is this card tied to an individual or the company? We use Amex and it's tied to individuals so when that person leaves we have to do the dance of migrating the payment to another person. Can we avoid that w/ stripe?

[deleted]

Re: Stripe Corporate Card

#72

Post by grey-area »

aquark wrote: post #64

Nice, I assume this give Stripe the ability to shortcircuit Visa/MC on a payment between a Stripe card and Stripe as the processor and capture more of the revenue without needing to share it.

Yep, Stripe are also investors in Monzo. This is the obvious long term play and there is no way the incumbents can keep up. It would also allow massive innovation in payments too.

Visa and mastercard should be very worried about being displaced.

Re: Stripe Corporate Card

#73

Post by ceejayoz »

myalphabet wrote: post #66
privateSFacct wrote: post #49

Earlier quoted context omitted.

Do these cards require a personal guarantee? Do they require personal social security number? Can they be ordered in bulk (ie, 5-10 at a time when onboarding folks). Not to be rude, but the corporate card market is different than the personal card market in a number of ways.

Wait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.

https://stripe.com/docs/corporate-card/faqs

> Am I personally liable for purchases made on the card?

> No. Only your business is liable for purchases made on the card.

Re: Stripe Corporate Card

#74

Post by philip1209 »

patio11 wrote: post #68
hkchad wrote: post #52

Earlier quoted context omitted.

Is this card tied to an individual or the company? We use Amex and it's tied to individuals so when that person leaves we have to do the dance of migrating the payment to another person. Can we avoid that w/ stripe?

You can have named users or you can have (conceptually) a role account, like saas_subscriptions@example.com. We recommend businesses set up the latter for recurring purchases on e.g. infrastructure that aren't tied to a particular person, for the same reasons that you don't want your logins for all of your SaaS or infrastructure to be under individuals' email addresses.

Oh, I didn't know this. Cool!

Re: Stripe Corporate Card

#75

Post by koolba »

jdlyga wrote: post #33
ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

Uber Visa gets you 4% on dining, 3% on hotels and airfare, 2% for online purchases, and 1% on everything else. It's not a corporate card, but it's hard to beat those rates.

That’s a pretty good rewards rate and there’s no annual fee. Reading up a bit, you don’t have to spend it as Uber fun bucks either. You can claim the rewards as cash.

Re: Stripe Corporate Card

#76

Post by jblake »

icebraining wrote: post #69
jblake wrote: post #46

As a small business owner, what I like about the Chase business cards is rewards come back in the form of points that I can easily transfer to my personal cards. It sounds like Stripe applies them towards the statement, i.e., benefit goes to the business, not to me personally. However, the 50k free processing is very enticing as thats way higher than any other signup bonus I've seen. But again, credit goes to busines…

I never had a corporate CC, so I'm curious: do those rewards count as personal income for tax purposes?

Usually I'll let the points sit and use them when I have to travel - so the points never touch my bank accounts. I'm not a tax expert, but for that reason I don't bother reporting any income on it

Re: Stripe Corporate Card

#77

Post by yandie »

icebraining wrote: post #69
jblake wrote: post #46

As a small business owner, what I like about the Chase business cards is rewards come back in the form of points that I can easily transfer to my personal cards. It sounds like Stripe applies them towards the statement, i.e., benefit goes to the business, not to me personally. However, the 50k free processing is very enticing as thats way higher than any other signup bonus I've seen. But again, credit goes to busines…

I never had a corporate CC, so I'm curious: do those rewards count as personal income for tax purposes?

No. CC points are not taxable if earned via spending - they're like rebates for spending so they are not taxed.

For the same kind of points (Chase Ultimate, for example), you are taxed if earned via:

* Referrals

* Opening an account (i.e. Chase checking account)

* Other non-spending activities

Re: Stripe Corporate Card

#78

Post by koolba »

icebraining wrote: post #69
jblake wrote: post #46

As a small business owner, what I like about the Chase business cards is rewards come back in the form of points that I can easily transfer to my personal cards. It sounds like Stripe applies them towards the statement, i.e., benefit goes to the business, not to me personally. However, the 50k free processing is very enticing as thats way higher than any other signup bonus I've seen. But again, credit goes to busines…

I never had a corporate CC, so I'm curious: do those rewards count as personal income for tax purposes?

Credit card rewards do not get a 1099 as they’re a rebate/discount on spent monies.

Banking sign up bonuses usually do as they’re classified as interest.

Re: Stripe Corporate Card

#79

Post by [deleted] »

jblake wrote: post #46

As a small business owner, what I like about the Chase business cards is rewards come back in the form of points that I can easily transfer to my personal cards. It sounds like Stripe applies them towards the statement, i.e., benefit goes to the business, not to me personally. However, the 50k free processing is very enticing as thats way higher than any other signup bonus I've seen. But again, credit goes to busines…

[deleted]

Re: Stripe Corporate Card

#80

Post by mikepurvis »

wiggles_md wrote: post #39
mikepurvis wrote: post #30

Earlier quoted context omitted.

This is obviously horrible for merchants, but what's really gross is how regressive it is when it comes to poor people and small businesses. Unlike national chains, local outfits don't have the ability to negotiate favourable fee arrangements, so accepting CC payment puts them at another built-in disadvantage relative to well-heeled competitors. And of course, those fees end up baked into the price of everything, and…

Depending on the industry sector, cash can effectively be several times more expensive to handle than the US market interchange fees. I don’t think it’s obviously horrible for merchants.

There are definitely lots of merchants who don't take (or strongly discourage) cash— think Apple Store, IKEA, the self-serve tills at the grocery store, anything online. But the common element in all of those is that they're big companies who can negotiate better rates.

Independent retailers, restaurants, etc are put in an awkward position where not accepting credit cards can cost them business, but accepting them forces raising prices which can also cost them business.

Canada has an interesting option in the form of our Interac system for debit, which has more favourable fees especially for small purchases. Since every Canadian with a bank account has an Interac card, one common option for indies is to accept only cash and debit.

Post reply on HN