Posted on May 20, 2015
It has been too long since I last blogged and I wanted to spend some time sharing lessons we are learning at Score More Baseball. One of the biggest lessons learned this week was that currency really makes a difference. When we first set up payment through Stripe we were selling to the local community in Waterloo such that charging in Canadian (CDN) dollars made perfect sense.
However, as we continued to sell to more and more international customers (USA, Brazil, etc) we were still charging those customers in CDN dollars simply because we never updated the software. With the CDN to US dollar conversion right now, that means losing 20 cents for every dollar or $10 per annual subscription. At that kind of money, it doesn’t take a math degree to figure out how much money we left on the table over the past two months!
Like I said, currency matters!