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The hardware is less important than the merchant account. The risk of charge backs means a small business accepting a credit card is effectively taking out a lo
by cheriot 5y ago
The hardware is less important than the merchant account. The risk of charge backs means a small business accepting a credit card is effectively taking out a loan. Apple isn't going into that part of the value chain (so far).
- Androider 5y agoRight, Apple is only providing the hardware and it requires to use a (partnered) processor, like Stripe, which was the example they used in their recent announcement. Stripe coincidentally sells chargeback protection as a service https://stripe.com/radar/chargeback-protection https://stripe.com/radar/chargeback-protection if that is a concern.
- cheriot 5y agoExactly, afaict this feature's impact on Square is that online payment processors like Stripe have an easier path to competing for in person sales.