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135 new currencies at Stripe

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Re: 135 new currencies at Stripe

#121
post #112

Earlier quoted context omitted.

But 100 JPY would be 100 Japanese Yen, right? I've seen somewhere (I think paymill) where they still expect decimal points to the currency, even when it doesn't exist or makes no sense.

Right, yes; 100 yen is represented as amount=100 currency=yen. We should probably write something about this.

Technically, the yen has a 1/100 subdivision called a sen, and a 1/1000 called a rin.

Re: 135 new currencies at Stripe

#122

Holy shamoly! This is incredible! I'm actually checking to make sure it's not Apr 1. I'm beyond-amazed at the sheer breadth of this list. I mean, PayPal itself only supports 20-odd currencies, I think. I mean, the Brazilian Real? Literally almost no payment processors support that. And believe me, I've looked for them. This is amazing news. (As a side question, if anybody from Stripe is listening here: how exactly is…

The breadth of this list is helped by including currencies that aren't being used by anyone. For example both EEK (Estonian Kroon) and LVL (Latvian Lats) aren't in use, as both countries are actually in the eurozone and use EUR.

Re: 135 new currencies at Stripe

#123

Holy shamoly! This is incredible! I'm actually checking to make sure it's not Apr 1. I'm beyond-amazed at the sheer breadth of this list. I mean, PayPal itself only supports 20-odd currencies, I think. I mean, the Brazilian Real? Literally almost no payment processors support that. And believe me, I've looked for them. This is amazing news. (As a side question, if anybody from Stripe is listening here: how exactly is…

They even support the Venezuelan Bolivar, which is under a very strict currency exchange restriction (venezuelans can only spend $300 online per year).

I'm guessing that this will still be charged in dollars, but still its very impressive!

Re: 135 new currencies at Stripe

#124
post #20

Earlier quoted context omitted.

Note though that those pounds (I have a 5 Jersey Pound bill somewhere) are not legal tender in the UK [1]. [1] http://en.wikipedia.org/wiki/Jersey_pound

Good luck defining legal tender in the UK; a lot of English retailers won't take Scottish notes.

Legal tender has a very specific definition that many people are not clear about; Scottish notes are not legal tender, not even in Scotland[0]. Although, they are convertible with English notes.

(IANAL, this is my lay understanding and is provided for entertainment only and should not be taken as legal advice, etc:)

Legal tender means you cannot claim a debt remains unpaid if you were offered repayment in the form of legal tender. So if I owe you £1000, you could in principle refuse to accept Scottish notes if you chose to and maintain that the debt stands (although that would be pretty crap of you, and you must accept the English notes after I've changed them at the bank).

Retailers are allowed to accept pebbles in exchange for goods if they want, and would normally accept Scottish notes on this same basis (they want your business). I believe they could even refuse to accept legal tender: a retail transaction is considered to be making a contract rather than repaying a debt and therefore has little to do with legal tender (see also: 'invitation to treat').

I also suggest that retailers in London accept Scottish notes almost without exception.

[0]https://en.wikipedia.org/wiki/Legal_tender#United_Kingdom

Re: 135 new currencies at Stripe

#125
post #71
post #68

Earlier quoted context omitted.

Well PayFlow says it supports 190 markets (does that mean currencies?) https://www.paypal.com/webapps/mpp/payflow-faq

They list the currencies at the end of that page; there are only 22 there.

PayPal lets you keep the money in the currency you charged. Doesn't seem like Stripe allows this, and insists on the 2% conversion fee.

Re: 135 new currencies at Stripe

#126
post #96

Earlier quoted context omitted.

1. The currency conversion rates can be checked by retrieving the charge's balance transaction via https://stripe.com/docs/api#retrieve_balance_transaction 2. We are working on supporting different payment methods, but have no immediate ETA on when these will be available.

The currency conversion rates can be checked by retrieving the charge's balance transaction Sorry, I'm definitely missing something then. Where in the response to that request does it show the conversion rate? I only see the amount, currency and fee information, which doesn't seem to be any different to what looking up the original charge already told me.

Please let me know if this helps: https://gist.github.com/thairu/1bb35222aefd6e27aa07

Re: 135 new currencies at Stripe

#127

Holy shamoly! This is incredible! I'm actually checking to make sure it's not Apr 1. I'm beyond-amazed at the sheer breadth of this list. I mean, PayPal itself only supports 20-odd currencies, I think. I mean, the Brazilian Real? Literally almost no payment processors support that. And believe me, I've looked for them. This is amazing news. (As a side question, if anybody from Stripe is listening here: how exactly is…

They even support the Venezuelan Bolivar, which is under a very strict currency exchange restriction (venezuelans can only spend $300 online per year). I'm guessing that this will still be charged in dollars, but still its very impressive!

Places with restricted conversion for regular citizens will also have a discrepancy between the official exchange rate and what people pay on the street. In recent history the difference has been roughly 30% in Venezeula, and 100000% in Zimbabwe. Caveat emptor.

Re: 135 new currencies at Stripe

#128

Earlier quoted context omitted.

They even support the Venezuelan Bolivar, which is under a very strict currency exchange restriction (venezuelans can only spend $300 online per year). I'm guessing that this will still be charged in dollars, but still its very impressive!

Places with restricted conversion for regular citizens will also have a discrepancy between the official exchange rate and what people pay on the street. In recent history the difference has been roughly 30% in Venezeula, and 100000% in Zimbabwe. Caveat emptor.

Actually the black market rate right now in Venezuela is even bigger. Around 650%

The official rate is 11.3 Bs/$ (or 6.3 depending on what exchange the govt decides you fall under.)

The black market rate today closed at around Bs.85/$

I'm guessing the only way to pay through Stripe with a venezuelan card is one which is approved by the govt to spend their alloted yearly $300.

Re: 135 new currencies at Stripe

#129

Wow! Awesome. I see Naira. Phew! :) So if I make my charge in Naira, how do you pay me in Naira considering Nigerian banks are yet to be supported. Of course same question apples to other non supported countries whose currencies are supported.

The multi-currency capabilities (including the ability to charge in Naira) are only available to businesses based in Europe and the UK with banks in Europe and the UK. We do plan to bring Stripe to more countries, including Nigeria.

edit I wasn't able to edit the above comment, but I was referring to the US and Europe above, not the UK and Europe.

Re: 135 new currencies at Stripe

#130
post #126

Earlier quoted context omitted.

The currency conversion rates can be checked by retrieving the charge's balance transaction Sorry, I'm definitely missing something then. Where in the response to that request does it show the conversion rate? I only see the amount, currency and fee information, which doesn't seem to be any different to what looking up the original charge already told me.

Please let me know if this helps: https://gist.github.com/thairu/1bb35222aefd6e27aa07

Thanks for sharing that, it does make everything clear.

If it helps, I didn't see anything in the API documentation to suggest that the currency in the balance transaction (which is type of a Stripe record we don't understand and have never had to consider before) would be different to that of the charge. Checking the API Reference page as I write this, it currently refers to "pence" in the left-hand column when describing the amount and fees, even though the example in the right-hand column says "usd", and it gives no description at all for the currency field.

A quick clarification in those API docs, including an explicit mention that balance transactions are operating in terms of your pay-out currency where charges are in terms of your pay-in currency, might help a lot here. I imagine this, along with how to navigate from a charge to the corresponding balance transaction, will be FAQs for anyone implementing multiple currencies...

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