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From our perspective - we really really want to be international. We would LOVE to deal with non-US companies and people and hope to do so soon, but for our pa
by pitdesi 15y ago
From our perspective - we really really want to be international.
We would LOVE to deal with non-US companies and people and hope to do so soon, but for our particular business it's a bit hard right now. Creating relationships with credit card processors we trust (and that you should trust) is really hard.
Another part of it is honestly just that the US market is so big and we have room to grow here, and it's not as easy as it seems - For example, we have phone and chat support during normal US business hours. I don't know what we'll do when we have European or Asian customers. Other issues include taxes, currency and currency risk, taking payments, etc. There's a lot to think about there. We really want to do it, but to do it right requires a lot of thought, and we just haven't done it yet.
- kerryfalk 15y agoNot only that but in my experience there are far more options for processors within the US and they are not as conservative in some cases (or so it seems). In Canada we have a number of processors but there are only two (TWO!) acquiring banks. TD and CIBC if I remember correctly. I believe that relationship has caused a monopoly at the top and extremely conservative processors here in Canada. I base this on information I've gathered over the last year and a half as a merchant and represents my best knowledge of the industry - if I'm incorrect in any of this I'd love to hear it as it may provide a path for me to loosen some of the chains. It's very, very difficult to progress with an innovative payments model in Canada due to this.