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This 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 paym
by jesseangell 11y ago
This 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.