Been waiting for this a long time. Stripe is finally here in Malaysia for someone like me. As in you can actually use it and not just for beta testers or owners of a large site.
I just activated my account.
All you need to do is to click “Activate Account” and answer a few simple questions.
Details are the usual full name, address, NRIC, bank account, business name etc.
Click submit and you are good to go.
Having used Paypal for years, I hope the fees and exchange rates are better with Stripe.
Difference between Paypal and Stripe
With Paypal at the moment, money is kept at Paypal until I want to withdraw it to my bank account in Malaysia. With Stripe payment though, the money goes directly into my bank account.
Pros and cons?
With the exchange rate fluctuating as it is, there may be advantages to holding the money in Paypal until the rate is more favorable. I also keep some money in Paypal for purchases like web hosting, etc. with are in US dollars.
It doesn’t make sense to get hit with exchange fees twice from USD to MYR and back to USD.
So there are still some advantage to using Paypal.
However that would also depend on the exchange rate and fees on Paypal vs Stripe. Paypal exchange rate to MYR is rather bad all this while.
Will need to monitor and see.
By the way make sure you activate TFA, or two factor authentication when you sign up.