Do you need to be incorporated to use this, or can a non-incorporated business use it?
The fee rebate and partner credits are very compelling.
Stripe Corporate Card
91–100 of 257 posts
Re: Stripe Corporate Card
#92Earlier quoted context omitted.
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.
This card is a Visa card. I don't think Stripe is close to replacing them. Not by a very long distance.
I believe it is Visa to use them when transaction can not be "short-cut". I think If the merchant already is related to stripe(uses Stripe for its' payments on the website) and customer uses stripe card, stripe can bypass visa network and thus save on transaction fees.
Similar to how an account to account transfer in the same bank does not go though whole SWIFT network etc.
Re: Stripe Corporate Card
#93Earlier quoted context omitted.
Sometimes the EU can be a bit too strong on consumer rights. For example, while charging excessive "processing fees" for accepting payment by card was a common scam, cards often do cost more to process than various other forms of payment here, and under the EU's latest PSD rules all surcharges for card use have been banned, even those that really did only cover the additional cost of the transaction.
I'd rather they err on the pro-consumer side, to be honest. I doubt those big banks and credit card companies will struggle to fight this and make their case for the appropriate exemptions if their scenarios warrant them.
It's not the big businesses I'm worried about. It's all the small ones, who are now obliged to take a hit of potentially 5% or more of a small transaction, because they have neither the power to negotiate the much lower fees that big companies have nor any longer the right to pass on the actual cost to their own customers to incentivize paying by a more cost-effective method.
Re: Stripe Corporate Card
#94Plus you can carry it in your wallet or your pocket.
Re: Stripe Corporate Card
#951-2% cashback is highly appealing from here in the UK but shame to see is US only. Anyone shed any light on why getting cashback cards in the UK is rare compared to elswehre? Personally I found Tandem which gives 0.5% cashback which is nice but not much. Business wise we decided to use Amex as the rewards are OKish (comes out to like ~0.5% again I think?) and being able to pay for US services on our USD card is nice…
[Stripe co-founder] As multiple commenters note, UK and EU interchange is significantly lower than that in the US. So the rewards market tends to be different as a result. That said, launching this in the UK would still be attractive to us. We don't think rewards are the primary thing businesses are looking for. As we talked to founders, it seems like they all want a corporate card early on for their business spendin…
Right now in order to charge USD (not the local currency), we have to give up 2% of total revenues to Stripe (or your local issuing bank) every month.
Is any progress underway to allow merchants to deposit funds to a USD account outside of the US?
Re: Stripe Corporate Card
#96Earlier quoted context omitted.
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
But if the business spends $100 and the rebate is $2, but I personally pocket the rebate instead of giving the money back to the business, wouldn't that $2 become taxable personal income? (and perhaps also theft, depending on my relationship to the business?)
https://www.irs.gov/pub/irs-drop/a-02-18.pdf
Seems like only cash rewards are taxable, but even then, it doesn't see like the IRS would be interested in pursuing it.
Re: Stripe Corporate Card
#97Well, 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.
Ughh, almost every card for individuals with good credit is better than that [1]. Unless you mean strictly among corporate cards? [1] https://www.nerdwallet.com/best/credit-cards/cash-back
Um the GP is talking about credit card purchases for their business, not their personal expenses.
Re: Stripe Corporate Card
#98US-only for now...
(Amber from Stripe here.) We're definitely planning to expand to other countries—this is just the start.
Singapore please! I'm guessing there are plenty of companies targeting the Asian market that are headquartered here, which might hopefully push it a little higher on the priority list.
(Happy to chat more about this.)
Re: Stripe Corporate Card
#99Well, 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.
The Uber Visa card also includes up to $50 in credits for popular recurring services, including Netflix, Hulu, Apple Music, Sirius, and others.
Re: Stripe Corporate Card
#100This is the second time Stripe has been at the top of HN in the last week. Any theories on why? Is this really that novel of a business?