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Stripe raises $600M at nearly $36B valuation

(www.axios.com)
721 points hhs | 1 comments | 16 Apr 20 14:35 UTC | HN request time: 0.204s | source
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fbelzile ◴[16 Apr 20 15:28 UTC] No.22890386[source]▶
I'm very happy with Stripe and for their success, but I plan on switching all my payments to go through PayPal again. I did some math and PayPal offers a better deal for Canadian businesses after Stripe bumps me off of their grandfathered conversion fees in a couple months.

I love the slick interface, but it's simply not worth the thousands per year I'll be saving with the switch.

For me the main selling point for any payment processor is the minimization of fees. Sure, the API's are nice, but I already use a payment gateway for that.

I'm a few clicks away from saving thousands. Am I missing anything?

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swat535 ◴[16 Apr 20 18:32 UTC] No.22892139[source]▶
How are you saving fees on paypal ?

Looking at https://www.paypal.com/ca/for-you/fees It looks like the fees are exactly the same as Stripe, what am I missing ?

Can you elaborate ? Are you a charitable organization?

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fbelzile ◴[16 Apr 20 19:32 UTC] No.22892650[source]▶
A majority of my sales are from US customers buying in USD.

With PayPal, fees are: 3.7% + $0.30 USD

With Stripe, fees are: 2.9% + $0.30 CAD + 0.6% (international card charge) + 2.0% (currency conversion fee)

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1. govind-stripe ◴[16 Apr 20 23:24 UTC] No.22894610[source]▶
To add to Ken's comment, you can add a USD bank account (in addition to your CAD account) in your dashboard settings and your USD transactions will settle into USD without any conversion fees. If you click on 'Add bank account' in the payouts tab [0], there's an option to add a USD account. CAD transactions will automatically settle in the CAD account associated with Stripe. USD transactions will automatically settle in your USD account associated with Stripe.

[0]https://dashboard.stripe.com/settings/payouts

Source: I work at Stripe