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

Stripe raises $600M at nearly $36B valuation

axios.com

Post reply on HN
Print view View original

381–390 of 463 posts

Re: Stripe raises $600M at nearly $36B valuation

#381

Post by wilg »

antoniodf wrote: post #209
wilg wrote: post #185

Earlier quoted context omitted.

We had to move off of Stripe because Stripe doesn't handle tax collection and remittance. We've moved to Paddle which takes care of that for us. Recommend!

Hi! Thanks for this feedback. I work at Stripe on improving our tax reporting product. May you elaborate on what was missing exactly?

Sure, we wanted Stripe to handle the taxes like Paddle does. Instead, Stripe just asks you to figure that out yourself or contract with another company through a complicated integration.

Re: Stripe raises $600M at nearly $36B valuation

#382

Post by carapace »

lisper wrote: post #349
carapace wrote: post #207

Earlier quoted context omitted.

> it's important to be clear about what is actually being argued I agree, and I'm not arguing with you, at least not directly. I personally think of "rights" as a kind of useful fiction that gives a kind of psychological "leverage" in politics. I understand that a lot of people think that that term has some sort of concrete real-world referent, but I don't. I've never read anything intelligible on the matter, e.g. th…

> I personally think of "rights" as a kind of useful fiction that gives a kind of psychological "leverage" in politics. Yes, of course. Rights are whatever we as a society decide they are. That's why I wrote, "should be considered a basic human right" rather than " is a basic human right." > One way I can interpret what you're saying is that governments shouldn't attempt to outlaw that. The devil is very much in the…

We're basically on the same page. (Which is nice: I respect you a lot.)

Re: Stripe raises $600M at nearly $36B valuation

#383

Post by misrab »

pc wrote: post #75

Stripe cofounder here. This isn't really new -- it's an extension of our last round ( https://www.cnbc.com/2019/09/19/fintech-start-up-stripe-notc... ). That said, we've seen a big spike in signups over the past few weeks. If any HN readers have integrated recently and have feedback, we're always eager to hear it. Feel free to email me at patrick@stripe.com and I'll route to the right team(s). As always, thank you to…

Would love Stripe to handle bank transfers as a payment method!

Many of our customers prefer this method over card payments. Then Stripe would fully cover our payment use-case; I'd love to use Stripe alone for payment, analytics and security. Right now we can't :(

Re: Stripe raises $600M at nearly $36B valuation

#384

Post by chrischen »

teruakohatu wrote: post #366
chrischen wrote: post #197

Earlier quoted context omitted.

I agree with the poster that in our own numbers we see almost 0% chargebacks on Paypal vs almost regular occurrences on Stripe (via credit card). Even in the rare instances where a chargeback or dispute happens PayPal has never failed to side with us or otherwise cover it under seller protection. And this is all done at the same fee levels as Stripe.

That is interesting because I have never had a problem getting a refund from PayPal, with one exception notable exception. I assumed they always sided with the buyers. In the one exception the seller had proof of delivery, yet it was not possible to have been delivered that day because of a road closure. PayPal sided with the seller. A year later out of the blue, with no prior communication, the seller sends me a ful…

PayPal also happens to have a return shipping protection for buyers, which covers the return shipping costs even when the merchant does not.

You're probably referring to PayPal disputes, but PayPal also covers merchants from chargebacks (even if the chargebacks themselves are won by the buyer), when a physical product is shipped.

So it seems like they must eat a lot of the fees because in the case of the credit card dispute PayPal is eating the charge if they do Seller Protection.

Somehow they do all this while offering standard credit card rates, so I think they're heavily undervalued by startups.

Re: Stripe raises $600M at nearly $36B valuation

#385

Post by plantain »

geofft wrote: post #364
plantain wrote: post #261

Earlier quoted context omitted.

>However, Stripe offers SEPA direct debit, which is usable with any European bank account and may work better for you. 1) SEPA has an 8-week no-questions no-appeal refund model, which is fundamentally incompatible with a SaaS business 2) Stripe doesn't support SEPA on Checkout 3) Stripe doesn't support SEPA on non-EU/US accounts

Why does that affect SaaS businesses specifically? I would think that's at least as much a problem (if not worse!) for businesses that do non-recurring sales and also for businesses that sell physical goods or non-scalable services. It sounds like if I pay for a steak or a haircut with SEPA, I can get a full refund eight weeks later and make it the restaurant or barber's problem to chase after me for the money, right…

That's why you can't pay for a steak or a haircut with SEPA I guess.

Re: Stripe raises $600M at nearly $36B valuation

#386

Post by xorcist »

Cu3PO42 wrote: post #237
antonkm wrote: post #217

Earlier quoted context omitted.

Swede here. Really baffling for me too. My kids have pretty much never even seen cash. I use the nationwide app Swish to send money to people using their phone number (almost every Swede is connected since it's pushed by all big banks) and only use contactless credit card. How come Germany is so cash positive? Personally I think Sweden has gone a bit far, where some old people have been put in a weird spot where they…

Other people have replied to your message already and pointed out that we do use cards, just not credit cards. I figured that was clear in my comment, but apparently it wasn't, so I'll go ahead and edit that. As for why we're so cash positive: one of the factors is privacy. If you pay for everything electronically both your bank and merchants are in the position to build a profile on you. If you use a non-local schem…

> we do use cards, just not credit cards. I figured that was clear in my comment,

I think the confusing part of your comment was where you consider non-credit cards (debit, prepaid etc.) to be distinct from VISA/Mastercard. That is not the case in most countries. It used to be the case in Germany, but is slowly changing as more and more debit cards are VISA/Mastercard cobranded.

Re: Stripe raises $600M at nearly $36B valuation

#387

Post by sleepyhead »

stripeUSD wrote: post #293
huhtenberg wrote: post #94

Earlier quoted context omitted.

Stripe not allowing to withdraw onto USD accounts not located in the US is an absolutely MASSIVE gripe with the service. We operate internally in USD - we sell in USD, we pay in USD, so we end up being shafted with not one, but two pointless FX conversions. And that's without going into minor stuff like the headaches with refunds done at rates, extra accounting overheads, etc.

This x100. We’re based in the UK but most of our customers are in the US so we bill in USD. The most annoying thing is that US customers pay additional fees because we’re based in the UK, and our UK customers pay extra fees because we’re billing in dollars. Stripe customer support very responsive, but they’ve told us the only way to fix it is to open a bank account in the US - which would mean we pay tax in the UK an…

You can open a USD account in US with TransferWise business.

Re: Stripe raises $600M at nearly $36B valuation

#388

Post by sleepyhead »

adamwathan wrote: post #137
huhtenberg wrote: post #94

Earlier quoted context omitted.

Stripe not allowing to withdraw onto USD accounts not located in the US is an absolutely MASSIVE gripe with the service. We operate internally in USD - we sell in USD, we pay in USD, so we end up being shafted with not one, but two pointless FX conversions. And that's without going into minor stuff like the headaches with refunds done at rates, extra accounting overheads, etc.

Is this country-specific perhaps? I'm in Canada and it's no problem for me to withdraw USD to a Canadian-based USD account.

Stripe only support USD accounts in USA and Canada.

Re: Stripe raises $600M at nearly $36B valuation

#389

Post by huhtenberg »

sealthedeal wrote: post #320
huhtenberg wrote: post #313

Earlier quoted context omitted.

I skimmed through your homepage and I frankly have no idea what you do and who it is for. "International bank-to-bank payments" implies that it's some sort of service for banks.

Thanks for the feedback :) We are an API for cross-border payments. Our customers are international payroll providers, credit card companies, neo-banks, and other types of companies who need to process X-border payments in their application. If you were an e-commerce store, we could certainly help you re-patriate funds via our web app, but that’s not our focus. Are you having issues re-patriating funds? Happy to help…

> re-patriating funds

I have no idea what this means.

The problem is that you (and the marketing copy on your site) explain what you DO instead of which of the problems you might help me solve. Use-cases, in plain English.

Perhaps you have enough business already, so you don't really care about pitching passerbys, but if you do, then your pitch is unclear and confusing.

Re: Stripe raises $600M at nearly $36B valuation

#390

Post by huhtenberg »

sleepyhead wrote: post #387
stripeUSD wrote: post #293

Earlier quoted context omitted.

This x100. We’re based in the UK but most of our customers are in the US so we bill in USD. The most annoying thing is that US customers pay additional fees because we’re based in the UK, and our UK customers pay extra fees because we’re billing in dollars. Stripe customer support very responsive, but they’ve told us the only way to fix it is to open a bank account in the US - which would mean we pay tax in the UK an…

You can open a USD account in US with TransferWise business.

Looks like a consumer-oriented service, no?
Post reply on HN