4 ms·

This is a neat idea and something we've been thinking about.

by edwinwee 6y ago

eganist 6y ago
What's the impediment to deploying it?
- largbae 6y ago
  Where can Stripe earn reasonable amounts of short-term interest without risk to the principal?
  - eganist 6y ago
    > Where can Stripe earn reasonable amounts of short-term interest without risk to the principal? If investors had the answer to that question, all of wall street would be out of a job. There's always risk. It's just a question of whether or not offering that service brings in enough extra customers (or retains customers who may otherwise leave) to reasonably offset the risk.
nogabebop23 6y ago
what's the point? risk free interest on a rolling 28-day buffer is less than a chequing account, which is essentially zero. I guess it's a good PR & signaling move but I think it's more important that you focus on reducing the % or length of the reserve.
issa 6y ago
My company has processed just under $1 million on Stripe and honestly the only complaint I've ever had is the customer service. You send an email with a problem/question and you get a response from someone. But there is no ability to talk to that same person again...I've literally ended up in months-long email chains where I just have to explain my problem over and over to a new person each time. Edwin, since it sounds like you're reading this, it would be great if Stripe could address this generally (or my issue specifically!).
- edwinwee 6y ago
  Hm! We've tried a few different models for this. Oftentimes when you reply to an existing email thread, you'll get the same person. If you start a new thread, you'll probably get somebody new (since we optimize for fast replies). But even if you get somebody new, we try to pull up state on your account to pick up where we left off. So it sounds like we messed up in those email chains—could you forward them to me at edwin@stripe.com? We've also been experimenting with more dedicated support for bigger businesses: https://stripe.com/support-and-services https://stripe.com/support-and-services.
  - jacquesm 6y ago
    CS rep affinity could work they way CPU affinity works: as long as there is no reason to switch someone keep the same small set of CS reps associated with that one account. Good reasons to switch: the customer requests it, escalation, their default rep is unavailable or has left the company. Other than that 1:1 relationship between CS reps and customers should be the norm.
fencepost 6y ago
You might investigate alternatives as well - for small volume clients I could see the bookkeeping cost increase being more than the value of received interest.
chris_wot 6y ago
Whilst this sounds like an interesting idea, it sounds like your customer has been taken by surprise. What do you do to explain that this might happen before they setup an account with Stripe?

This is a neat idea and something we've been thinking about.

eganist 6y ago

What's the impediment to deploying it?

largbae 6y ago
Where can Stripe earn reasonable amounts of short-term interest without risk to the principal?
- eganist 6y ago
  > Where can Stripe earn reasonable amounts of short-term interest without risk to the principal? If investors had the answer to that question, all of wall street would be out of a job. There's always risk. It's just a question of whether or not offering that service brings in enough extra customers (or retains customers who may otherwise leave) to reasonably offset the risk.

nogabebop23 6y ago

what's the point? risk free interest on a rolling 28-day buffer is less than a chequing account, which is essentially zero. I guess it's a good PR & signaling move but I think it's more important that you focus on reducing the % or length of the reserve.

issa 6y ago

My company has processed just under $1 million on Stripe and honestly the only complaint I've ever had is the customer service. You send an email with a problem/question and you get a response from someone. But there is no ability to talk to that same person again...I've literally ended up in months-long email chains where I just have to explain my problem over and over to a new person each time. Edwin, since it sounds like you're reading this, it would be great if Stripe could address this generally (or my issue specifically!).

edwinwee 6y ago
Hm! We've tried a few different models for this. Oftentimes when you reply to an existing email thread, you'll get the same person. If you start a new thread, you'll probably get somebody new (since we optimize for fast replies). But even if you get somebody new, we try to pull up state on your account to pick up where we left off. So it sounds like we messed up in those email chains—could you forward them to me at edwin@stripe.com? We've also been experimenting with more dedicated support for bigger businesses: https://stripe.com/support-and-services https://stripe.com/support-and-services.
- jacquesm 6y ago
  CS rep affinity could work they way CPU affinity works: as long as there is no reason to switch someone keep the same small set of CS reps associated with that one account. Good reasons to switch: the customer requests it, escalation, their default rep is unavailable or has left the company. Other than that 1:1 relationship between CS reps and customers should be the norm.

fencepost 6y ago

You might investigate alternatives as well - for small volume clients I could see the bookkeeping cost increase being more than the value of received interest.

chris_wot 6y ago

Whilst this sounds like an interesting idea, it sounds like your customer has been taken by surprise. What do you do to explain that this might happen before they setup an account with Stripe?