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I Created a $60K/Month App That Collects In-Person Payments Through Stripe

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Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#131

Post by freewilly1040 »

paulkon wrote: post #17
faitswulff wrote: post #8

Earlier quoted context omitted.

Stripe is kind of analogous to a utility company here. They're an upstream provider. They don't care about what "infrastructure and resources" you've built. If you break the terms of service, they will cut you off, just like if you don't pay for your gas/electric you will quickly find yourself with a non-functional home, regardless of how fancy it is.

Is Stripe forced to do this because of their upstream provider ToS, Well's Fargo?

Very likely (I work for a payments co and many of our rules are pass throughs from Visa)

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#132

Post by ac2u »

buzzkillington wrote: post #103
vscr wrote: post #101

Earlier quoted context omitted.

greetings, may i piggyback on this as I'd love to learn as well. can't say I have much experience with a pgp key though, i just generated one though and can post it.

Post it and encrypt an email address as the message, will get in touch with you there. There's not much to gpg messages, anyone who can use the command line can use them.

Sure, I'll bite.

-----BEGIN PGP MESSAGE-----

hQIMA1Q/UtfGmbpWAQ/9FM64J6FBcVaqkONtUNBR8/ISiZeGmYfXfmn/p3spjSsp 6/T5b15PiE+2tO6AHcwYyJic6TqNiKRrDIVX4i3dLuULP/PKAD5xb8As4A79iyte Um+Hu6htJKgBoasgsw2nYvKWuCdKiuORQhNVeatjBdQFUGo9glcWmYHaw7+0NskG x4ey08YAs8rO4uBzBqAxQ04F0F8PZGCnMyKEvsmF774EKRZlenU7HD1dnv08S+3s 0vnKSg1MfEfe2rsEVbgkULrq4oSexCAGUZ/U5pqfN7BfDYWJNJDK2962dPGtCYnf zQzLKyXR/qrlouovL7yfQcs+GDGvztOjNQUUXuACXaCsU/SUI9odPgtjlgkcyVDb tZ94+GZiaTRUzX4/4KKUi+SawzlLI9/odgrogJCP17+P5y4BllohFMSKx6qppWb0 DdBbqwDWcYPEkmosLhQijdXnFYdRzu6TpWhrIUZl/92PiEWd6O/QGiQBW+aW+rrg x48oGsHkEmy29uo0kHjFdCAItnIzQ6bbumL16i1UJUmmL0kjdRU8Qzk1kFhEMAUx rQo7RhuwWWZdBmlE7Sq331rxkFH4DG8rX4YBro1Aby00Xi86oFOo18TMbXST5DHs 0x12FE9DPqyGGIbadfNNYfT30tQDTQw4U9NB8L1u9QT9AWFG71waQmofmFTFsy3S wCMBoYINsyMi78w9TKF9hjNPrlfAj/mlHhNmk0e1dN01j+/63MOP54wg2+qFGzNy 9GMD4fAjRTueYS23O4U6dkLorqSQjxHEz3O72t/v1gd3r22AtB/7/jfOudM2xfaU 19wtnOdIFowWCTut40OYS69BfgY7vbCl3lPRd2DjUst5OREldF4r9dNFu5iECJGc L99pvJp6mGKmsNRo2EAv/kgHtwixCHXDCKsG19hyjszrRIdGGYhDTBA6aJsEkvs9 qzae+SXT24zkfvrg+oh0zxlySkHc09Udgx5feQEdSam5iwTFqQ== =/tkj -----END PGP MESSAGE-----

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#133

Post by kuschku »

cmonnow wrote: post #130
trickstra wrote: post #124

Earlier quoted context omitted.

Cut out the middle men, the banks, use Bitcoin and you'll shave even the rest of the fees off.

There are middle men in bitcoin. In fact, there are a million middle men. But you trust those million men, rather than the 10 who run the bank. Anyways, it's about how much money you're willing to spend for trust/safety/risk-mitigation/speed. Cost of item - $100 $100.05 - pay via Bitcoin. In case of fraud, suck it up. $102 - pay via Bank. In case of fraud, complain to bank, who are slow to resolve it. $105 - pay via…

Actually, let’s compare real cost and duration.

Cost of item: $100

SEPA: $100.00 (GiroCard: $100.13 (Bitcoin: $100.57 (Bitcoin (SegWit): $100.41 (MasterCard/VISA: $102.50 (< 30 days, easy to reverse)

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#134

Post by agustif »

rscherf wrote: post #126
elbear wrote: post #117

Earlier quoted context omitted.

Still, what's your motivation for wanting to grow more? Money can be a legitimate motivation, but you said that's not it. I guess I'm curious what drives you now.

Larger user base will hopefully protect me from being cut off.

One could argue also the contrary, a larger user base might make you more of a target for Stripe to cut-off. Who knows.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#135

Post by kuschku »

trickstra wrote: post #124
kuschku wrote: post #73

Earlier quoted context omitted.

Which is the same idea as SEPA-ICT or the German girocard system. Cut out the middle men, the card companies, and suddenly everything is 2-3% cheaper, and faster, and simpler.

Cut out the middle men, the banks, use Bitcoin and you'll shave even the rest of the fees off.

Bitcoin is actually more expensive than SEPA transfers or girocard payments, and slower to resolve (and just as impossible to reverse as SEPA transfers).

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#137

Post by 52-6F-62 »

rscherf wrote: post #57
hackermailman wrote: post #38

Earlier quoted context omitted.

When Stripe eats his lunch, he'll just find something else to simplify/solve they offer that's too complex, and probably still make money. They may even try and hire him as a product manager or something.

I guess it’s possible they’ll eat it, but they sort of already are. They get the benefits of my work on growth as they get their same fees and don’t have to dedicate anyone to an app.

That’s exactly how many back end payment processors work in Canada. Banks would even rather pay a third party to handle things like (what we have called) Interac email money transfers than do the work in house as it saves on large amounts of overhead, administrative and insurance costs.

You’ve got a good niche and I have to admit I’m envious of the position you’re in—that level of autonomy seems rare.

It’s also a stupidly great idea for non-technical trade and craft shows. No infra or complex setup needed. Smart. Well done.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#138

Post by rscherf »

jimnotgym wrote: post #136

Does this have a market outside of the US, without chip&pin card readers? You are taught in the UK never to take face to face payments without chip & pin or chargebacks are indefensible.

We have an integration with Payworks for non-US, but mostly hoping Terminal rolls out globally soon.

But, no card reader is required.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#139

Post by jimnotgym »

rscherf wrote: post #138
jimnotgym wrote: post #136

Does this have a market outside of the US, without chip&pin card readers? You are taught in the UK never to take face to face payments without chip & pin or chargebacks are indefensible.

We have an integration with Payworks for non-US, but mostly hoping Terminal rolls out globally soon. But, no card reader is required.

So how do you handle chip & pin without a card reader?

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#140

Post by mf2hd »

mahin wrote: post #71
rscherf wrote: post #54

Earlier quoted context omitted.

I’m definitely not trying to peddle advice, I was just approached about my story. I think there are tons of micro niche things like this that can be built to earn a living (I have a list of 5 I’d build on top of just Stripe if I had the time). Large companies can’t do everything, and I think Stripe owns that. Not to mention, they still get all their same fees and don’t have to maintain the app.

What, in your opinion, is Stripe lacking that can be built on top of it?

12+ month subscription, paypal support.
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