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The little box you type your credit card in is a huge pain in the ass for companies larger and small due to some compliance requirements from financial institut
by rubyfan 8y ago
The little box you type your credit card in is a huge pain in the ass for companies larger and small due to some compliance requirements from financial institutions called PCI. I can’t understate the ass pain, system complexity, legal review, etc etc that this can bring. Doesn’t matter if you are big or small, it’s painful and can be costly. Big companies can pay to handle that, smaller companies can’t and have relied on historically clunky solutions to take payments.
Stripe can make that little box you type your credit card painless, seamless and highly accessible for small and large companies. They are generally delivering a high quality experience throughout their process and many of their staff are generally awesome.
Full disclosure, I work at a big company and we use Stripe. I used to work at startups in the early 2000s and handled payment solutions. The world is better with Stripe.
- YPCrumble 8y agoYou didn’t answer the question. What makes stripe different from Square?
- rubyfan 8y agoSquare is focused on in person card transactions whereas Stripe is focused primarily on online transactions and supports multiple types of payment method (CC, ACH, ApplePay, Bitcoin, etc). Stripe also handles outgoing payments (marketplace, top-ups, etc) and is just now getting into in person transactions.