Stripe Corporate Card • Hacker News Board

Re: Stripe Corporate Card

#251

Post by muks » Wed, Sep 11, 2019, 11:23 AM UTC

blntechie wrote: post #200

lotsofpulp wrote: post #89

Earlier quoted context omitted.

Visa might be the best business model ever made, I don't think it's going anywhere soon.. Extremely high barrier to entry, extremely low marginal costs, infinite scalability.

Look at China, India and other Asian countries. Visa and MasterCard never had that much of a strong foothold there and now debit and credit cards are pretty much antiquated by wallets and QR codes.

This isn't true for India. Until last year, all the cards I'd seen in India were either Visa, Mastercard or AMEX. This year my bank tried to send me a "Rupay" card which is an Indian processor; on speaking to the bank staff, it appears that the central bank (RBI) are asking banks to promote Rupay by default to avoid transaction data from leaving the country. But it's still possible to change to a Mastercard or Visa card.

Many businesses and individuals would still prefer to have a Mastercard or Visa at this time as most international websites that sell services and goods don't accept Rupay.

Re: Stripe Corporate Card

#252

Post by sdinsn » Wed, Sep 11, 2019, 6:03 PM UTC

lotsofpulp wrote: post #224

sdinsn wrote: post #202

Earlier quoted context omitted.

If you use it for personal travel, I'm pretty sure it counts as income.

It does not in the US: https://www.irs.gov/pub/irs-drop/a-02-18.pdf

I stand corrected, thanks

Re: Stripe Corporate Card

#253

Post by DarkStar851 » Wed, Sep 11, 2019, 6:11 PM UTC

maratd wrote: post #211

cdolan wrote: post #205

Earlier quoted context omitted.

It was awkward to read this it sounds eerily similar to my company. We’ve been using two capital one cards for all of our expenses (in the hundreds of thousands per month), and have really enjoyed the benefits of 2% cash back. The biggest issue is the credit limit. Even after 12 months of making 4-6 payments for the entire credit limit throughout the month (we max the card out every week at least), they still won’t g…

> Even after 12 months of making 4-6 payments for the entire credit limit throughout the month (we max the card out every week at least), they still won’t give us the limit we need. Had the same experience with the same card, asked multiple times for a credit increase ... which they denied. Then they increased it months later when I didn't ask. Go figure.

My personal card pulls the same shit constantly. Last raise request I made was for $300 to put a bill on it, was declined, a month later I get an automatic offer for a $1000 credit raise. They'll be losing my business pretty soon.

Re: Stripe Corporate Card

#254

Post by AdamJacobMuller » Wed, Sep 11, 2019, 8:28 PM UTC

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.

How does this work on a technical level with regards to contactless/chip payments? Who owns (and who has a copy of) the secret data inside the chip?

It also seems to me that if Visa/MC were smart they would write (or have written) into their TOS provisions disallowing this. Both refusing to allow stripe to issue cards which would bypass them as well as refusing to allow stripe to process cards without going through them. I'm sure there could be some justification for that (security or privacy or some other nonsense), but, it seems like this is a slippery slope to cannibalizing Visa/MC out of existence, not that I'm objecting to that per-se, but I assume Visa/MC would want to avoid it.

Re: Stripe Corporate Card

#255

Post by huxflux » Thu, Sep 12, 2019, 10:09 AM UTC

amfeng wrote: post #17

donalhunt wrote: post #2

US-only for now...

(Amber from Stripe here.) We're definitely planning to expand to other countries—this is just the start.

Sweden!

Re: Stripe Corporate Card

#256

Post by nirvdrum » Fri, Sep 13, 2019, 3:37 AM UTC

sudhirj wrote: post #110

myalphabet wrote: post #66

Earlier quoted context omitted.

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.

That seems really odd. The employees who have these cards are often expected to spend multiple times their yearly salary on company business. Personal guarantees simply wouldn’t work.

The last place I was at did it that way. I imagine it was to incentive early expense reports, otherwise you were stuck paying the bill. Also protects the employer if the expense isn't legitimate. But, it was pretty stressful as an employee.

Re: Stripe Corporate Card

#257

Post by 401kguy » Mon, Sep 16, 2019, 3:50 PM UTC

hoffmann530 wrote: post #100

This 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?

If you watch Kat's recent "How to Launch (Again and Again)" talk: https://www.youtube.com/watch?v=3xU050kMbHM&feature=youtu.be

Stripe YC S2010 gets cited as often doing it right with launches across all social channels including Hacker News, with the founders jumping into the threads to answer questions.