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Stripe raises $600M at nearly $36B valuation

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

#391

Post by huhtenberg »

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.

It's the other way around. Canada is the only exception here.

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

#392

Post by sadovmychyi »

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…

Any plans to make IDR currency into zero decimals so we can charge more than ~$64? Right now you cannot charge more than a million in any currency (which is reasonable) but IDR still has decimals.

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

#393

Post by kmoriarty »

Silhouette wrote: post #269
antoniodf wrote: post #209

Earlier quoted context omitted.

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

As far as I'm aware, Stripe has no tax product comparable to what a merchant of record like Paddle offers. Has this changed?

Hey! I'm another Stripe working on tax compliance pain points. Would be keen to chat about your experience with Paddle and specifically what type of solution you are looking for w/r/t tax and/or product fulfillment. If you're up to chat, email me at kmoriarty@stripe.com.

Either way, thanks for the feedback!

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

#394

Post by kmoriarty »

ttoinou wrote: post #90

I wished I could use Stripe but when selling worldwide you need to send the V.A.T. / G.S.T. to each country and US state you're dealing with. With customers all around the globe it means something like minimum 50 tax invoices to fill and send for me

Hey! I'm a PM at Stripe working on solving VAT/GST/sales tax pain points for our users. Would be great to connect and hear more about what you're looking for. Please do correct me if I'm wrong, but it sounds like your main pain point is around specifically handling the collection, and then remittance and filing of tax for all countries/jurisdictions you have nexus in? Or is it actually the difficulty with issuing customers compliant invoices across all countries you sell to (e.g. ensuring VAT ID is shown, language is local, etc.)?

Either way, would be great to connect -- kmoriarty@stripe.com

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

#395

Post by jonyeow »

littlethings wrote: post #184

Stripe user here (Stripe Singapore) since 2016 and processed a loooot of money which was a life-changing thing for me and many other people. Patrick, I appreciate how supportive you are here so I hope you don't mind this turning into Q&A/support type of topic :D 1) Do you plan to lower the currency conversion fees for Singapore? We charge customers in USD but we are forced to convert to SGD and conversion fees adds u…

Hi there! Jon here from the Singapore office. We have a USD payout feature for Singapore in beta and would be happy to share more about it with you! I'm at jonyeow@stripe.com

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

#398

Post by _gfrc »

plantain wrote: post #385
geofft wrote: post #364

Earlier quoted context omitted.

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.

Actually you can. A few years ago, when paying with a German bank card, very often the transaction was turned into a direct debit transaction, because they used to be cheaper.

This used to be very common in supermarkets. Every time you had to sign the receipt this was happening. It's not as common nowadays as the fees are now more or less the same.

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

#399

Post by adambyrtek »

PixelPaul wrote: post #348
adambyrtek wrote: post #319

Earlier quoted context omitted.

IANAL, but couldn't you incorporate a wholly-owned US subsidiary using something like Stripe Atlas to handle USD payments and reduce your fees? By the way, my company has the opposite problem. Our Stripe account is registered in the UK and even though we process payments for Australian customers in AUD their local banks still charge them an extortionate "foreign transaction fee". This means that we had to open a sepa…

i dont want to open a US business just to process US payments. the cost and time would be to high. and taxes. did you open a australian stripe account without an australian business?

We had to incorporate in Australia anyway, so I guess you're in a different situation.

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

#400

Post by m11a »

trevor-e wrote: post #160
pc wrote: post #146

Earlier quoted context omitted.

Great feedback... thank you. In case it's useful, some context on them: On (1), we started an FX team this year. (There are a lot of legal complexities here around how the funds move, who has title to what at which moment, and so on.) But we're investing significantly in improving it and it should get better soon. On (2), the core issue is card network pricing rules -- by design, they discriminate on the basis of whe…

Just want to say thanks for being so transparent with your answers in this thread, really appreciated. As a fly on the wall to most of this -- I don't have a business myself, yet ;) -- I'm learning a lot so far.

Ditto. I don't know how he finds the time, and always touches his email in to make himself available to customers. It's customer service done right and it's great to see.
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