11–20 of 41 posts
However, it seems linked to Connect, which makes it very expensive at £2 per month per active account.
I realise that there are plenty of regulations that they take care of, but really what I want is an API to send money to an account or card and that's it.
Wow - I wonder if this is how Bezos felt when he said (paraphrasing) he feared the internet was taking off without him? Stripe Capital is their iPhone moment -- they've learned much from the software payments market, setting up an 'import Financial Foundation,' and now can use their novel data stream to effectively transform business cash flow financing. Capital will be a a beautiful take on an old way of financing (…
> I wish I could buy stock.
Something I wish I'd internalized much earlier in my life: if you're a programmer or otherwise have skills relevant to a startup (many HN participants fit this bill!) then you do have access to stock in companies like Stripe. In exchange for your time and expertise, they will pay you in both stock and cash.
My contact information is in my profile and I would love to help anyone I can in this endeavor.
Can stripe 1st work on reducing their fees? They're just like the incumbents. Only surrounded by more silicon valley sycophants. Taking 2.6%+ of every merchant transaction is nuts.
Small businesses pay >2.9%+0.30¢ all the time.
There's now no economic reason for these fees to remain so high. I worked at a payment processor.
> Stripe is enabling standardized access to global banking capabilities via APIs... The API is Stripe's core competency, and they've been excelling at it for a long time. I think one thing that Stripe does very well is allow developers to focus on developing. Setting up a business relationship with financial institutions is cumbersome and the legal details can be daunting. While their engineering reputation is high q…
Covid has forced more businesses to go cashless and pay the 3% payment transaction toll, which is a hidden tax we all pay.
Could easily see post-recovery legislation scrutinizing payment players who’ve all seen their stock skyrocket this year, similar to what happened after the GFC with the Durbin Amendment (however flawed that legislation is).
DOJ blocking Visa’s acquisition of Plaid feels like a hint of things to come.
However impressive Stripe has become the core issue for me is that it’s made it really easy to work with a legacy entrenched card processing system, and it’s incentivized to maintain that system rather than replace it with something better.
Wow - I wonder if this is how Bezos felt when he said (paraphrasing) he feared the internet was taking off without him? Stripe Capital is their iPhone moment -- they've learned much from the software payments market, setting up an 'import Financial Foundation,' and now can use their novel data stream to effectively transform business cash flow financing. Capital will be a a beautiful take on an old way of financing (…
I believe you can already purchase billions of anonymized credit card transactions... https://datarade.ai/data-products/us-consumer-card-payments
> Stripe is enabling standardized access to global banking capabilities via APIs... The API is Stripe's core competency, and they've been excelling at it for a long time. I think one thing that Stripe does very well is allow developers to focus on developing. Setting up a business relationship with financial institutions is cumbersome and the legal details can be daunting. While their engineering reputation is high q…
I think there’s going to be some reckoning in the payments industry in general, though, in the next 5-10 years. Covid has forced more businesses to go cashless and pay the 3% payment transaction toll, which is a hidden tax we all pay. Could easily see post-recovery legislation scrutinizing payment players who’ve all seen their stock skyrocket this year, similar to what happened after the GFC with the Durbin Amendment…
That should be a lot cheaper than current fees, especially for large amounts, as you cut out a lot of expensive middlemen. It will be interesting to see if Stripe or Apple does this first.
It seems like 2 opposing fights are going on:
1) Mastercard and VISA tries to be the only methods of payments by trying to get rid of all national payment cards.
2) EU seems to want to reduce payment fees, but doesn't want customers to know the fee. I don't think they are ready to want the fees to be much lower.
Nice fees also allow for nice lobbying.
() e.g. in Denmark business's are not allowed to draw money from card before the goods are shipped
> Stripe is enabling standardized access to global banking capabilities via APIs... The API is Stripe's core competency, and they've been excelling at it for a long time. I think one thing that Stripe does very well is allow developers to focus on developing. Setting up a business relationship with financial institutions is cumbersome and the legal details can be daunting. While their engineering reputation is high q…
I think there’s going to be some reckoning in the payments industry in general, though, in the next 5-10 years. Covid has forced more businesses to go cashless and pay the 3% payment transaction toll, which is a hidden tax we all pay. Could easily see post-recovery legislation scrutinizing payment players who’ve all seen their stock skyrocket this year, similar to what happened after the GFC with the Durbin Amendment…
Earlier quoted context omitted.
I think there’s going to be some reckoning in the payments industry in general, though, in the next 5-10 years. Covid has forced more businesses to go cashless and pay the 3% payment transaction toll, which is a hidden tax we all pay. Could easily see post-recovery legislation scrutinizing payment players who’ve all seen their stock skyrocket this year, similar to what happened after the GFC with the Durbin Amendment…
For countries which have good customer protection ( ), use of credit cards online can be reduced to just a transfer between 2 bank accounts. That should be a lot cheaper than current fees, especially for large amounts, as you cut out a lot of expensive middlemen. It will be interesting to see if Stripe or Apple does this first. It seems like 2 opposing fights are going on: 1) Mastercard and VISA tries to be the only…
A card chargeback may be easier than going down that route, and you know you're going to get paid if they find in your favour, which is not guaranteed if a court finds in your favour...