Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Stripe and Advent have made a joint offer to acquire PayPal – sources

reuters.com

Post reply on HN
Print view View original

251–260 of 333 posts

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#251

Post by whazor »

hocuspocus wrote: post #163
whazor wrote: post #105

Earlier quoted context omitted.

It is not. Wero has charge back support and therefor higher fees. There is quite some interest in Pay by Bank via PSD2 APIs. This is much more similar to iDeal and can work for the entire EU.

I've never used iDEAL but I assume the confusion comes from the fact checkout widgets (e.g. from Adyen) are transitioning from iDEAL to "iDEAL | Wero". I assume UX is the same, i.e. scan a QR code with your mobile wallet app? If I understand correctly it's developed by the same people: Payconiq.

[dead]

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#254

Post by account42 »

hakfoo wrote: post #240
ThePowerOfFuet wrote: post #23

Earlier quoted context omitted.

>If it's a card-not-present transaction, Visa or MasterCard is making the bulk of the commission and forcing the vendor to take on the risk of a transaction without a PIN or password. 3DS2 is the solution to that problem.

3-D Secure has been a fiasco IMO. I can recall when we first tried 3DS in the US and it went over like a lead balloon. Let's jump out of the middle of checkout and go to a page which looks like they're trying to phish your bank account to continue, and by the way, you can just skip it. So customers did, and then merchants followed, except in countries that effectively required it because they cared about fraud. One o…

It's also stupid because most people already have a bank app as 2FA so they could just make approve payments there. And this functionality exists or at least existed but I can count the number of times I have seen it on one hand. Instead my bank went back to randomly denying transactions based on questionable heuristics.

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#256

Post by account42 »

KronisLV wrote: post #155
geden wrote: post #95

Earlier quoted context omitted.

They've been abysmal and borderline criminal since the start. They randomly withheld £20k from a business I was involved with for no stated reason and no direct means to talk to a human about it. It took months to resolve. And as for their actual website...

> They randomly withheld £20k from a business I was involved with for no stated reason and no direct means to talk to a human about it. It took months to resolve. If only there was a regulatory framework to turn that into an extremely simple court case, and to also punish attempts of PayPal to ban users who stand up for access to their money. If they’re a near-monopoly they shouldn’t be allowed to set their own rules…

Exactly treating companies with huge market shares more like utilities that can't just refuse to do business with people for arbitrary reasons and have to follow due process would provide a natural pushback against monopoly building - much more effective than antitrust litigation could ever be.

It's always funny when people say these big companies can't provide a good service because that "wouldn't scale" as if their ability to scale is a god given right and not something that should be pushed back on itself.

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#257

Post by account42 »

carlosjobim wrote: post #131
nickjj wrote: post #65

I'm not sure I like this idea. Braintree is a legit competitor to Stripe. I'm guessing they have some informal agreement to keep transaction fees about the same but if they become 1 company, what's to stop Stripe from raising fees even more? I'm not a fan of either to be honest, PayPal once told me I was wrong with something related to taxes and a bunch of different reps told me what I was saying and reported was imp…

> what's to stop Stripe from raising fees even more? There's a big amount of competitors for card processing. Just because they aren't well known within tech circles doesn't mean they don't exist.

There are many card processors but how many of them provide services equivalent to stripe?

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#258

Post by Terr_ »

drdexebtjl wrote: post #241
dedoussis wrote: post #211

Earlier quoted context omitted.

What if you are a merchant that needs to sell to O(10) countries? Integrating with each country's domestic payment rail is not feasible.

O(10) = O(1) so you would be fine.

True, but I think their intent was more like N=10.

Re: Stripe and Advent have made a joint offer to acquire PayPal – sources

#260

Post by Terr_ »

stavros wrote: post #100
bdcravens wrote: post #94

Earlier quoted context omitted.

Of course, but that's the thing about "informal" agreements: presumably there's no record of it. Price collusion happens way more than most realize. I was at a trade show for my employer when a competitor walked up to our booth and out loud proposed that we should all fix our prices. We didn't of course, but the brazenness of saying something like that out in the open like was what surprised me.

The good thing about price collusion is that it's hard to coordinate. If even one competitor defects (and they have every advantage to, as they'll win big), then the cartel falls apart.

I'd like to point out that the the idea rests on an inefficient market, where price/transaction information was kept secret long enough to turn the trust-violation into worthwhile profit.

In contrast, an efficient market with perfect price information means other cartel members would instantly notice and change their prices to punish the defector.

Post reply on HN