5 ms·

There's not though. Each EU member state is a sovereign country and they each have their own laws regarding things like trans border payments. There's not even

by troels 10y ago

There's not though. Each EU member state is a sovereign country and they each have their own laws regarding things like trans border payments. There's not even a single currency.

Symbiote 10y ago
Estonia, Greece and Cyprus use the Euro, but unlike the other EU Euro countries aren't available on Stripe. I haven't worked in finance, but as I understand it, the regulations are supposed to allow cross border businesses to operate. That's why the City of London banks area worried about leaving the EU and losing that right. The Eurozone especially has regulations to remove barriers to cross border payments. https://www.paymill.com/ https://www.paymill.com/ says it works for all of the EU except Cyprus. Perhaps an oversight? This might be of interest: https://en.wikipedia.org/wiki/Single_Euro_Payments_Area https://en.wikipedia.org/wiki/Single_Euro_Payments_Area
- vertex-four 10y ago
  The EU makes it easier for more businesses to operate across borders, but banks and payment companies are still highly regulated on a per-country basis, with few real standards for having regulators talk to each other. The main downside of not being in the EU is that it'd be harder for the banks' clients to move money to the EU, likely trigger additional taxes, etc.
- davidverhasselt 10y ago
  There's a conspiracy theory that they're actively not rolling out to Estonia because the e-residency feature makes for a possible interesting competitor to Stripe Atlas.
kyriakos 10y ago
I am not an expert on this topic but... The central banks of eurozone countries are governed directly by the European central bank. They are not controlled by each member state's government. Eurozone also means they all use a single currency and are all members of the single European market. There are no different laws for cross border payments. So I guess there must be another reason we don't know about.
- troels 10y ago
  No expert either, but there is definitely domestic regulations in place. Besides, the eurozone is only a subset of EU. The UK has its own currency, for example.
  - izacus 10y ago
    So why isn't the Eurozone supported?
    - kyriakos 10y ago
      Exactly Eurozone should have been supported in one go.

by troels 10y ago

There's not though. Each EU member state is a sovereign country and they each have their own laws regarding things like trans border payments. There's not even a single currency.

Symbiote 10y ago

Estonia, Greece and Cyprus use the Euro, but unlike the other EU Euro countries aren't available on Stripe. I haven't worked in finance, but as I understand it, the regulations are supposed to allow cross border businesses to operate. That's why the City of London banks area worried about leaving the EU and losing that right. The Eurozone especially has regulations to remove barriers to cross border payments. https://www.paymill.com/ https://www.paymill.com/ says it works for all of the EU except Cyprus. Perhaps an oversight? This might be of interest: https://en.wikipedia.org/wiki/Single_Euro_Payments_Area https://en.wikipedia.org/wiki/Single_Euro_Payments_Area

vertex-four 10y ago
The EU makes it easier for more businesses to operate across borders, but banks and payment companies are still highly regulated on a per-country basis, with few real standards for having regulators talk to each other. The main downside of not being in the EU is that it'd be harder for the banks' clients to move money to the EU, likely trigger additional taxes, etc.
davidverhasselt 10y ago
There's a conspiracy theory that they're actively not rolling out to Estonia because the e-residency feature makes for a possible interesting competitor to Stripe Atlas.

kyriakos 10y ago

I am not an expert on this topic but... The central banks of eurozone countries are governed directly by the European central bank. They are not controlled by each member state's government. Eurozone also means they all use a single currency and are all members of the single European market. There are no different laws for cross border payments. So I guess there must be another reason we don't know about.

troels 10y ago
No expert either, but there is definitely domestic regulations in place. Besides, the eurozone is only a subset of EU. The UK has its own currency, for example.
- izacus 10y ago
  So why isn't the Eurozone supported?
  - kyriakos 10y ago
    Exactly Eurozone should have been supported in one go.