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>Card processing was a basic commodity business before these guys. Somehow, Stripe et al have been able to convince a large swath of customers to accept 2.9% +
by creaghpatr 8y ago
>Card processing was a basic commodity business before these guys. Somehow, Stripe et al have been able to convince a large swath of customers to accept 2.9% + $0.30.
Certain retail industries are willing to pay a premium for simplicity and better UX. Merchant account processing is a cottage industry and it's easier to pass on hidden charges through a merchant than a what-you-see-is-what-you-pay flat rate. Especially one with Stripe-caliber UX.
- CardFellow 8y agoDefinitely the case for some, I know a lot of developers love Stripe's documentation. But some others just plain equate simplicity and low cost. They have no idea how to read their complex merchant processing statement, there are all these rates and fees.. Square or Stripe comes along, bundles everything into a simple-to-understand rate, and they think it must be cheaper.