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Wait, is there no minimum? Because 0.8% on very small amounts is very practical for micro payments. $1 payment would cost a fraction of a penny. What am I mi
by ck2 11y ago
Wait, is there no minimum?
Because 0.8% on very small amounts is very practical for micro payments.
$1 payment would cost a fraction of a penny.
What am I missing?
This will be game changing if my observation is correct.
- oddevan 11y agoI'd wager the only thing you're missing is the high friction involved in setting up a bank account. I've got my credit card stored in my password manager vault, and even if not, I've got that sucker memorized. Contrast that with digging through the clutter on multiple horizontal surfaces in our house to find a checkbook so I can find the routing number and account number, waiting for the two deposits to show up (because I use a small bank that hardly ever shows up on these "automatically authenticate" lists), and then trying to remember what I was trying to spend $1 on... But that's literally the only problem. The fee structure is AWESOME for micro-payments, so for the right things (small subscriptions?) this could be amazing.
- jedberg 11y agoBut once you've set up your bank account once, it will work on every site that takes Stripe. That's the big sell as a merchant -- chances are your user is already configured for payments. And the larger their network grows the more likely this is true.
- nemothekid 11y agoI'm pretty sure this isn't true. If both Merchant A and Merchant B are using stripe, and I authorize my bank with Merchant A, that doesn't mean my bank is authorized with Merchant B. Especially because in most cases, you can be totally transparent with the fact that you are using Stripe.