21–30 of 257 posts
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.
1-2% 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…
As I understand it usual US de-regulation means card issuers get to charge the merchant more or less whatever they want. So if they charge your grocery store $4 for the transaction when a rival does it for $1 then giving you $2 "cash back" is very affordable for them.
Would the money be taken directly from the Stripe balance or the linked bank account?
1-2% 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…
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 spending (to get it off personal cards). As the business adds employees, they need a sensible way to keep tabs on spending without the expensing process being really painful. I think that's just as relevant in the UK, with the added detail of multi-currency spending being more relevant.
1-2% 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…
From our point of view, a card where we could use our USD and EUR balance to make USD/EUR payments would be one of the biggest pulls if possible. I think recurring USD charges for UK based businesses are probably quite prevalent.
I don't think many UK startups realise how much they lose out on being charged in GBP on these transactions (especially with debit cards). There's likely an opportunity here to educate UK businesses and use that to promote this sort of card.
> all want a corporate card early on for their business spending (to get it off personal cards)
I'm surprised by this, been a while since we were an early business but didn't have any issue getting a corporate debit card which is more than adequate early on.
Well, 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.
1-2% 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…
As I understand it usual US de-regulation means card issuers get to charge the merchant more or less whatever they want. So if they charge your grocery store $4 for the transaction when a rival does it for $1 then giving you $2 "cash back" is very affordable for them.
Hilarious to have this state of affairs going on while there's simultaneously a right wing panic about how carbon pricing will make everything a few percentage points more expensive. But I guess making everything a few percentage points more expensive so that executive credit card holders can get thousands per year in cashback and travel rewards is no biggie.