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I would also argue that ACH process $40T a year, while all credit and debit card networks move a collective ~$7T.
by jslampe 11y ago
I would also argue that ACH process $40T a year, while all credit and debit card networks move a collective ~$7T.
- tyingq 11y agoWhat portion of the $40T do you suppose, though, is the type of transaction that would move to something like Stripe? At least in the U.S, Stripe's opportunity is moving more of that $7T to ACH, not moving existing ACH to their platform.
- jslampe 11y agoACH for B2B is a significant chunk of that money, so is payroll. It's also admittedly misleading because the card networks use ACH significantly to settle money from Bank A to Bank B (i.e. on "the backend"). This is poignantly addressed by @PC's comment addressing whether or not this would be available with Stripe Checkout. ACH, for now, is generally terrible in retail situations. NO one wants to wait an additional 2-3 days (to all for funds to clear) to see their shipment be sent from Amazon. There are some niche use cases where it may work for pay-ins, for example online custom wood shops—where there's a built in delay to build the product—or other services where physical products don't need to change hands.