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Stripe raises $600M at nearly $36B valuation

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721 points hhs | 2 comments | 16 Apr 20 14:35 UTC | HN request time: 0.444s | 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. GarrisonPrime ◴[17 Apr 20 13:28 UTC] No.22898796[source]▶
Wow, so expensive either way. European card processing is around 1.7% from what I’ve seen. American banks are atrocious. Is the Federal Reserve rate responsible for this.

American banks also take forever to transfer payments, which drives me mad. There is this massive amount of money just in limbo, a sort of shush cash pile, which the banks make interest off of while the owners of the money fume waiting for permission to use their own money. Grr. /rant

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2. lotsofpulp ◴[17 Apr 20 14:32 UTC] No.22899275[source]▶
>Is the Federal Reserve rate responsible for this.

No, it’s caused by the fact that I get a minimum of 2.625% cash back on all purchases, and actually 5.25% on all online and most of my other purchases with credit cards.