Just wondering if Patreon has ever considered partnering with TransferWise for payments?
They’re not another PayPal or Stripe, what they’re doing is far more disruptive because unlike other online payment services, TransferWise has the lowest fees for sending/receiving money in different currencies because they use the real exchange rate.
Here’s a quick video to explain how it works:
Problems that TransferWise could solve:
- Enable different payout currencies for international creators
- Much lower fees
- Payments go directly to creators’ bank account (cuts out the middleman like PayPal etc)
Please look into partnering with TransferWise.
As a creator in the EU, it’s always frustrating having to pay hidden currency conversion fees. So even if Patreon currently charges a low fee of 5% , with all the currency conversion fees, it’s not unusual that I end up paying maybe another 3-5% on top of that.