21–30 of 141 posts
Earlier quoted context omitted.
What's stopping from coffee shops and SMBs from using Stripe? Why shouldn't they?
>great for developers I'm guessing this means that the setup process of stripe terminal isn't to the point where a non-developer can plug it in and go. Square is great because anybody competent enough to install an app on their phone can use it
How do you enter a PIN code? i.e. Wholefoods accepts contactless payments and then guess what...you need a PIN code. I guess an app somewhere (like on a phone or iPad) needs to be handed over to you to do that...? I really dislike PIN code backed payments, the whole touchless/contactless experience should be as fast as paying for the "tube" in London with an Oyster IMHO
Generally mobile/web based payments don’t require PIN. I’ve never been prompted on a Square or Toast machine— only place I’ve ever been asked is on a traditional PINpad and Clover machines.
2.7% + $0.05 per transaction is expensive for in person payments. We are averaging 1.2% (since debit is so cheap) for our First Data account, with next day funding (Stripe has variable delivery, sometimes taking up to a week).
Is it my imagination, or do the offerings from Square and Stripe continue to converge?
Surprisingly they have not encroached much on each other’s business, particularly Square moving very slowly into card-not-present.
I wouldn't be surprised if they're from the same OEM, just with different firmware.
Earlier quoted context omitted.
It shouldn’t be surprising. That’s how you steal customers.
I’m not in the payment space, but it seems like it’s rapidly commodifying. The hardware to support mag stripe, contactless, and EMV isn’t terribly expensive per unit, and as long as there’s some bare minimum functionality, the competitive edge is the processing cost. This seems less about stealing customers and more about keeping Stripe attractive to existing customers who might be continually evaluating other paymen…
Some wholesale contracts for certain ISO resellers are as low as 1 basis point (.01% of a transaction) and $0.01 for bank underwriting (where the bank holds the chargeback risk if the underwritten business goes bankrupt), with platform fees being as low as 3 basis points and $0.02 cents.
Stripe is probably doing the underwriting in house, hence why sometimes deposits of recent transactions to your bank account are delayed for a few days to a week.
If you punch “1337” into the pinpad it redirects you to their jobs page - cute.
Earlier quoted context omitted.
Generally mobile/web based payments don’t require PIN. I’ve never been prompted on a Square or Toast machine— only place I’ve ever been asked is on a traditional PINpad and Clover machines.
That's actually true! I totally forgot about my most recent Square/Clover experience...it's been months since I paid on those. Thank you for reminding me. I wonder how does it work in the back at the bank level, why are those OK vs like a Wholefoods or corner-store...
If you punch “1337” into the pinpad it redirects you to their jobs page - cute.