#kasunakalanka
golden karma
lethal sphinx
small island
Hi yes I checked this out. It appears that the Nigeria currency NGN is in the list. But when I did a google search, it said otherwise.
lethal sphinx
What said otherwise?
We don't support Nigerian merchants, but you can absolutely process payments in NGN as an AU merchant
Easy enough for you to test!
small island
Unfortunately, the Nigerian Naira is not supported and any transactions you process must be denominated in US Dollars. This means that any payments made to you or through your account will be converted from Naira to USD at an exchange rate that Stripe determines, and there may be fees associated with such conversions.
small island
Unfortunately, the Nigerian Naira is not supported and any transactions you proc...
This is what google says👀
lethal sphinx
Not sure what the source is but sounds like it's describing the settlement currency which is different: https://stripe.com/docs/payouts#supported-accounts-and-settlement-currencies
As an AU merchant you can only settle in AUD. So that means any non-AUD payments you process will be subject to FX (NGN -> AUD)
small island
okay.thanks for the info. I have another question. In my application, I as the merchant keeping a commission from each operation(transaction). Say for an example if a customer pays 500 Nigerian Naira and I'm keeping 20% as a commission. Can you kindly explain how stripe calculate this commission?
In other words, does stripe calculate my commission directly from Nigerian Naira or is it calculated after being converted to AUD?
lethal sphinx
It depends. What kind of Connect accounts/transaction are you using?
lethal sphinx
