41–50 of 53 posts
This would be the last thing I would want to use as a retail store. 1) Customer buys product X from me 2) Payment is processed by Amazon 3) Amazon matches the customer with their own records, sends an advertisement for that same product, at a lower cost 4a) Customer returns product and buys from Amazon 4b) Customer orders from Amazon next time they need it Edit: For the record, Amazon wouldn't even need to be able to…
$PYPL hugely down on the news. $SQ took a hit too, weirdly. (I mean at 2:50 PM, after hours is separate with SQ's earnings tonight) Amazon dips its toes in this space all the time. It's hard to tell how serious they are. Amazon Pay has been relaunched at least once. Amazon Register (CC processor which competed with Square) died in 2015: https://bits.blogs.nytimes.com/2015/10/30/amazon-shutting-do... Amazon Handmade (…
It isn't worth the risk to switch to Amazon. The payments industry right now is cutthroat, with First Data offering clients rates like 1.5 cents per transaction and no basis points over interchange. This is insane compared to what the merchant industry was charging just a few years ago, to the point that many of First Data's own ISOs are being severely undercut on price by the company that provides their own backend.…
WTF? Where are they offering this!? Even if this is true, which sounds unbelievable, it's certainly not available globally
One big advantage of PayPal over other payment methods (that's usually lost on consumers) is that they have extremely friendly merchant policies when it comes to fraud or seller protection. With a credit card all it takes is a button press (or phone call) to reverse a charge and it gets with-held for about 90 days at best, and completely reversed with no recourse at worst. According to Stripe, card companies do not c…
> PayPal, and most other "payment facilitators" do a much better job handling disputes. In PayPal's case they provide a much fairer arbitration process (funds are held by PayPal, and a website with message thread is created allowing communication between the merchant, customer, and arbitrator). How does this work if the customer paid Paypal with a credit card and initiated a chargeback? I get the credit card/user cou…
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Card companies generally warn customers that they’ll be banned by PayPal if they continue with the chargeback, and encourage them to file a dispute instead.
Never encountered this when filing a chargeback on an item or service purchased through PayPal, nor has it negatively affected my PayPal account.
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Is this in their TOS? Do you know whether one can opt out? Are there any electronic payments schemes that (excluding the e-coins) don't share consumption data?
It seems that you can actually opt-out. Here is the website for MasterCard opt out: https://www.mastercard.us/en-us/about-mastercard/what-we-do/... You probably can find similar pages for other companies.
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It isn't worth the risk to switch to Amazon. The payments industry right now is cutthroat, with First Data offering clients rates like 1.5 cents per transaction and no basis points over interchange. This is insane compared to what the merchant industry was charging just a few years ago, to the point that many of First Data's own ISOs are being severely undercut on price by the company that provides their own backend.…
> First Data offering clients rates like 1.5 cents per transaction and no basis points over interchange WTF? Where are they offering this!? Even if this is true, which sounds unbelievable, it's certainly not available globally
Grocers pay among the lowest rates for credit card processing, I think that was a big part of Amazon's very loud attempts at grocery. They don't care whether it succeeds if it knocks a few dozen basis points off their interchange rates!
1. Find out what people are buying in stores and not on amazon, and figure out how to get them to switch
2. Use this data to target more advertising/recommendations across amazon
3. Use the purchase data to perhaps create whole new brick and mortar stores that cater to the most in-demand products in different areas, like a more targeted walmart -- squeezing out the stores that once bought into this program.
I'd say it's a short term win, at the sake of long term loss of stores.
That being said, companies like this should declare a non-compete with the businesses they're luring in. Chomp!
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Never encountered this when filing a chargeback on an item or service purchased through PayPal, nor has it negatively affected my PayPal account.
It probably depends on how much you do it. I'd imagine they know how much their average revenue per customer is and they'd cut people off after the chargebacks exceed a certain threshold.
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> First Data offering clients rates like 1.5 cents per transaction and no basis points over interchange WTF? Where are they offering this!? Even if this is true, which sounds unbelievable, it's certainly not available globally
They've been offering it to most of the clients I used to work with in the grocery industry, Mercury is matching it too. Might not be available to every SIC, but perhaps its a good excuse to buy into a small grocer that does $150k/month in processing and run all your volume through that. Grocers pay among the lowest rates for credit card processing, I think that was a big part of Amazon's very loud attempts at grocer…
The banker scans the document with a frown. He strokes his chin thoughtfully.
"Amazon.. Amazon. Where have I heard that.. Oh yeah, the grocer! Zero basis points!"If I were a retailer, I’d be extremely leery of the largest e-tailer asking me to process my payments. My customers know what they are buying from me. And would the payment processor. And if the payment processor can subvert my shop for their online store, then why would my client come back to me? I know customer service, humaning, and all sorts of other anecdotes are supposed to help, but in the end, folks just want…
I've gotten to the stage now where I won't buy from another retailer where I have to create another account, if at all possible.
As consequence my online purchase history (aside from grocery shopping) for the past 3 years is almost exclusively amazon.
If I were a retailer I would be looking to make the buying process as slick and seamless as possible and, alas, amazon can provide me with a solution.