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OP said _payment processing_, and then parent said > they are all essentially the same when it comes to functionality and pricing because they are the middleme
by rahkiin 3y ago
OP said _payment processing_, and then parent said
> they are all essentially the same when it comes to functionality and pricing because they are the middlemen between you and visa/mastercard/... and not much else
Which is false, as there are many payment providers using fixed cost models and not touching the CC networks. And in a lot of countries this is the main method of online payments instead of credit cards.
I would not say it is exactly the same as in the US.
- trimethylpurine 3y agoI'd be interested to see some stats on that. I wouldn't think that alternative to CC is the primary form of online transactions in any country, unless you're excluding debit cards from that category. At least not yet. And, just like everywhere else, there are countless payment methods that are not run through Visa/Mastercard in the US. Zelle, ACH, Direct transfer, etc.
- jorams 3y agoHere[1]'s an infographic for a report on the Dutch market for Q1 of this year. See the bottom right. iDEAL is by far the biggest payment method. [1]: https://www.thuiswinkel.org/media/oyhhmgvy/infographic_thuiswinkel_markt_monitor_2023_q1_en.pdf https://www.thuiswinkel.org/media/oyhhmgvy/infographic_thuis...
- trimethylpurine 3y agoThe Ideal platform is essentially an agreement between banks to process payments from a trusted, third party processor, who collects fees from the seller. What I just described is also what Visa and Mastercard are. While the graphic might be nice marketing for Ideal, I wouldn't categorize it as separate from debit/credit card.