Is it just me or has Stripe come out with like 4 new products in the last month?
I think the push of announcements is linked to Stripe Sessions: https://sessions.stripe.com/
Stripe Reader
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Re: Stripe Reader
#52Is it just me or has Stripe come out with like 4 new products in the last month?
With a value of $95B, they are the largest yc alum now. They can afford to invest in building lots of new products.
Re: Stripe Reader
#53Looks exactly like a Square reader [1]. I wouldn't be surprised if they're from the same OEM, just with different firmware. [1] https://squareup.com/au/en/hardware/reader
Came here to post this, but as a former Square employee I can tell you they designed the "puck" reader from scratch years ago and contracted directly with the manufacturers. Stripe clearly copied the industrial design but I'd imagine the internals are different. It will be interesting to see how Stripe fares with this - in person payments are a very different ball game than online. PayPal and Amazon have tried with what seems to be limited success.
Re: Stripe Reader
#54Is it just me or has Stripe come out with like 4 new products in the last month?
Stripe Tax - https://news.ycombinator.com/item?id=27459712 - 6 days ago Stripe Identity - https://news.ycombinator.com/item?id=27502993 - 2 days ago Stripe Terminal - https://news.ycombinator.com/item?id=27534884 - 3 hours ago Stripe Reader - https://news.ycombinator.com/item?id=27534156 - 2 hours ago
Damn -- 4 products in the last week.
Re: Stripe Reader
#55Earlier quoted context omitted.
Square & Stripe don't seem to be reselling other processing platforms. > We work directly with multiple networks https://squareup.com/us/en/payments/payment-platform > Stripe’s platform connects directly to Visa, Mastercard, American Express, Discover, JCB, and China Union Pay across global markets https://stripe.com/newsroom/news/direct-platform
In the merchant processing industry, there are frontends (where your transaction initially is routed for approval by Visa/MasterCard/American Express/Discover or by one of the Debit Networks) and backends (where the amounts of these transactions are debited between banks). Square and Stripe are both Independent Sales Organizations riding atop Chase Paymentech and First Data respectively: https://www.quora.com/What-pa…
Interestingly Square basically created this category (the merchant aggregator) by somewhat secretly running all their early clients' payments through a single merchant account.
Re: Stripe Reader
#56Earlier quoted context omitted.
Surprisingly they have not encroached much on each other’s business, particularly Square moving very slowly into card-not-present.
Square's 3.5% + $0.30 transaction fee for card not present transactions is significantly higher than Stripe's 2.9% + $0.30 transaction fee.
Not sure where that pricing comes from. I believe Square's payments API is priced the same as Stripe (I'm sure that's not an accident):
https://squareup.com/us/en/townsquare/payment-api
> Square’s payment APIs are free to integrate into your software. For online sales, the only cost is 2.9% + 30¢ per payment transaction. Sales made with Square’s POS app are charged at our standard fees: 2.6% + 10¢ per swipe, chip card dip, or NFC payment. Manually entered transactions are charged at 3.5% + 15¢.
Re: Stripe Reader
#57Re: Stripe Reader
#58Stripe makes none of the hardware that is currently available (the BBPOS Chipper™ 2X BT or Verifone P400). Not sure which processing platform they are riding atop of these days (perhaps Tsys?) but we maintain a separate First Data account and CardConnect integration since Stripe's support for certain BINs of business cards is lacking. Said banks expect a breakdown of what was taxable to be sent along with the transac…
The best thing about Stripe was they made payment processors move. By showing them what good looks like, by showing them there's value in creating an easier, modern platform - their competitors are missing out on a massive market of SMB's that won't care enough for the 1.5% difference in costs.
Which is admittedly crazy, but there's a lot of people out there making purchasing and implementation decisions that don't really care about the bottom line.
Re: Stripe Reader
#59Earlier quoted context omitted.
With a value of $95B, they are the largest yc alum now. They can afford to invest in building lots of new products.
I am just dreaming - any big boys - Apple/Google/Amazon talking to them to acquire?
The end goal of every company doesn't have to be "get acquired by a major tech company".