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Exactly. Setting up a conventional gateway and merchant account takes weeks at best, complete with several contracts, credit check, authorization forms, and sev
by jarin 17y ago
Exactly. Setting up a conventional gateway and merchant account takes weeks at best, complete with several contracts, credit check, authorization forms, and several rounds of changes to your website if you're taking payments online.
- staunch 17y agoYeah, but not with PayPal's "Website Payments Pro". It does usually take 2-3 days, but it's really quite painless. It certainly doesn't require a credit check. PayPal probably already has an App too, so all they need is to give you is a reader.
- ivankirigin 17y agoPaypal was also revolutionary. Square is doing in the physical world what Paypal did online. In both cases, fighting fraud makes or breaks the service.
- staunch 17y agoSquare is operating online too. That's what the mobile internet-connected computer is, that their reader is attached to. PayPal App + iPhone + reader = Square except cheaper, more reliable, and probably accessible to more people. PayPal was revolutionary. The only thing I see here from Square that's even kind of new is the reader component, and that is hardly novel.
- jarin 17y agoIf I remember correctly, PayPal Website Payments Pro does require your SSN. There may be a credit check somewhere in the fine print.
- staunch 17y agoYou're right that they do take an SSN. I always assumed that was for tax or risk purposes. They don't say they do a credit check, but you're right, it is possible they do.