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It doesn't seem like any of these products actually process payments, or is there something I'm missing? Checkout: > "Depending on your configuration, you wil
by bri3d 11y ago
It doesn't seem like any of these products actually process payments, or is there something I'm missing?
Checkout:
> "Depending on your configuration, you will process the actual payment through your own system, a payment processor, or an e-commerce partner as you normally do."
( https://developer.visa.com/products/visa_checkout/guides https://developer.visa.com/products/visa_checkout/guides )
CyberSource:
> Before moving to production and running real transactions, you must have a merchant account from an acquiring (merchant) bank that can process the credit card payments.
( https://developer.visa.com/products/cybersource/thingstoknow https://developer.visa.com/products/cybersource/thingstoknow )
Visa Direct APIs:
> However, in order to use the Visa Direct APIs in production, the Originator must either be a Visa client financial institution (issuer or acquirer), a third-party Originator that has been granted a Visa acquirer POS license (geographical restrictions apply), or a third-party Originator that has established an acquiring relationship for that purpose with a Visa client financial institution.
( https://developer.visa.com/products/visa_direct/thingstoknow https://developer.visa.com/products/visa_direct/thingstoknow )
The token and transaction services are very interesting and it's cool to see Visa jumping into decent modern payment UX, but I don't think they're gunning for Stripe just yet...
- cissou 11y ago> To use Visa Checkout in production, you must apply and be approved for a Visa Checkout Merchant Services account. (Contact developer@visa.com for more information or to begin the production on-boarding process.) I guess it will depend on this "on-boarding process" and their ability to make it as seamless as possible.
- lowglow 11y agoVisa invested in Stripe. Just FYI: http://fortune.com/2015/07/28/stripe-visa/ http://fortune.com/2015/07/28/stripe-visa/
- pfarnsworth 11y agoCybersource is the payment processor.
- deleted 11y ago[deleted]
- jesseangell 11y agoThis product is essentially a gateway. The same that Stripe or Braintree are gateways. They just do a much better job of abstracting the confusion that is payments. You will still need a merchant account and a processor. A processor is the party that actually handles authorization/settlements between the issuing bank and acquiring banks.
- bri3d 11y agoRight - but Square/Stripe/Braintree supply the merchant account and the processor for me, so I can sign up, pay a transparent/upfront fee schedule, and get payments delivered to my (standard checking) account.
- jesseangell 11y agoCorrect. They're definitely not targeting people that are just beginning to process payments. Their intention is to likely attract really large merchants/platforms, one way or another.
- f3llowtraveler 11y agoVISA is still living in the 20th century.
- alanh 11y agoCheckout is a product looking for a reason to exist and crippled with Visa-specific branding.