Thoughts on Stripe, PayPal and Other Payment Processing in Dubai/UAE

[InnocuousNomad]

So according to that YouTube guy Offshore Citizen (Michael Rosmer), using Stripe or Paypal in Dubai isn't viable for ecommerce because of the fees from EUR/USD/ETC to AED. However surely if Dubai banks allow you hold a multitude of currencies, and as processors like Stripe or PayPal can be set to process any, surely there wouldn't need to be conversion fees?

By the way I cannot stand this guy, he's one of the worst speakers ever I always have to screw with my volume constantly to understand a damn word he's saying.

But anyway, I got an invitation from Stripe for UAE after it launched recently so just curious on your thoughts, and even if there was a problem with fees then surely putting an EMI between the processor and Bank would virtually eliminate any hurdles?

 

[coollemur]

Stripe works fine in Dubai with UAE entity. Payouts are slower and fees a bit higher. No deal-breaker though. If you’re worried about an extra 1% or so, maybe just increase your prices.

US LLC works well for Stripe also but funds will go to the US and you’re stuck transferring them. Unless you’re low margin, high volume, it’s probably not worth the effort.