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I agree that the convinces of Paddle is hard to beat, especially for sole developer and small companies. Liability shift being indeed very powerful. But I also
by realityking 5y ago
I agree that the convinces of Paddle is hard to beat, especially for sole developer and small companies. Liability shift being indeed very powerful. But I also think the percentages thrown around are too sinistic. If you make ~5 figures a month in revenue it becomes very doable to hold a Euro and USD bank account in addition to your local currency, likely covering a fair amount of your customer base. Suddenly your cost are significantly lower (at the expense of now having to manage multiple accounts)
- Silhouette 5y agoSure, you can hold accounts in multiple currencies. However, if you're a sole developer or small business bringing in low-six-figure revenues, you're probably going to want to take much of that revenue out of the company to pay its people on a regular basis. That in turn probably means transferring it to your primary bank account and converting the currency to your primary currency in the process, which will incur a conversion cost again. So holding accounts in several different currencies mostly helps if you expect to both bring in and pay out significant amounts in those same currencies, avoiding a round trip of conversion to and back from your native currency.
- gingerlime 5y agoTrue, but wise accounts make it easier and also cheaper than 2% that Stripe charges.
- Silhouette 5y agoIndeed. That seems to be what GoCardless are using now, and as mentioned above, they work out much cheaper than Stripe for international payments with currency conversion.