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Simplero / Roadmap

Roadmap for Simplero
https://simplero.com
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Automatic assignment of payment currency to payment processor #397

Open ellanylea opened 5 years ago

ellanylea commented 5 years ago

I charge in EUR and USD and have both Stripe EUR and Stripe USD account.

Can you setup a function that knows that payments made in EUR get processed by/transferred to my Stripe EUR, and payments made in USD get processed by/transferred to my Stripe USD. Including payments made from payment plans.

The current issue is: a product's currency drop down menu is sooo small, so customers don't really see it. And if I activate both my EUR and USD stripe payment processors, then they'll select the correct payment processor (which is visually much more prominent bigger), but miss the currency drop down menu. So on customer end, they may have chosen EUR payment processor, but since they didn't see the currency drop down menu (which defaults to USD), they're charged USD and it goes to my EUR stripe.

So on their end, they're charged the wrong currency. And on my end, I'm losing money on the foreign exchange.

The opposite happens to: They chose USD payment processor, but since they didn't see the currency drop down menu (which on some products defaults to EUR), then they're charged EUR when they clearly selected USD payment processor. And I end up with EUR to USD loss.

Asking for customers to choose a currency twice is just bad UI. Let me know if I can help test or clarify anything, thank you muchly!

ellanylea commented 5 years ago

Any updates on this feature?

calvincorreli commented 5 years ago

No update, on.

Why do you have separate payment processors in the first place? What are you trying to achieve/avoid by doing that, exactly?

ellanylea commented 5 years ago

Clients who pay in EUR gets processed by Stripe-EUR and funds deposited into my EUR bank account.

Clients who pay in USD gets processed by Stripe-USD and funds deposited into my USD bank account.

It’s to avoid USD payments being deposited into EUR bank account, this forex. Or vice versa, therefore forex as well.

Thanks :)

calvincorreli commented 5 years ago

So you have two different bank accounts, but both located in the same country and bank?

How much does this setup save you exactly? Sounds like a complicated setup.

Do you have expenses in both USD and EUR? How do you separate the two, or what do you do with the money from there?

Just trying to understand the situation to help us evaluate.

When we decide what to spend our resources on, the math is essentially number of customers impacted x the value to each of those customers.

So things have to be either high impact to a smaller number of customers, or a lower impact to a large number of customers in order to be prioritized.

ellanylea commented 5 years ago

Hey Calvin!

Yup, I do the same with my company: high impact on samller number or lower impact on larger number.

Clarification: We have two offices, so we have bank accounts in Europe in EUR and in USA in USD. Each office has income and expenses in their respective office.

It makes no sense to enable Stripe-USD, receive EUR from European clients, have those EUR converted into USD and deposited into USD bank, then for us to manually re-convert those USD into EUR to then send to our EUR office.

Cheers, keep me posted :)

xo Ella

calvincorreli commented 5 years ago

Got it. We have a company in each of Denmark and the US, also, but we run them as two separate Simplero accounts, to keep the accounting separate.