41–50 of 463 posts
How about opening your business to new markets. Stripe feels like you have to have your business in the top first world countries only. It's unusable even in some EU countries nowadays.
So with Stripe, is it industry practice to keep the fee when refunding customers? For example, if I return something to Best Buy, are they still paying that 2.9% fee to their CC processor?
i don't know about best buy, they might be able to negotiate something better. but for small fish, it's standard practice to keep not just the fee, but twice the fee: when you charge a card, visa charges you 2.5% on the purchase amount. and then when you refund the card, visa charges you 2.5% on the refund amount. as far as visa is concerned, they're both just transactions, regardless of the direction, and they want…
Earlier quoted context omitted.
So the question is, will the adoption of these services stick after things return to a more normal state? Certainly there will be some stickiness, but how much and for whom? To state the obvious, some adoption will be permanent but others not much. Where that will happen and by how much is a diff question. Example, will people go back to Starbucks or will they keep on making more coffee at home, maybe get an entry es…
When will things return to a more normal state?
Even Mao with his Hong weibings wasn’t able to stamp out the parts of Chinese culture he wanted to stamp out forever.
I love the quote from John Collison: "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."
:-). True.
First Data has a lower market cap than this with $9B in annual revenue and $1B in annual profit.