[1] https://viewfromthewing.com/passengers-demand-court-undo-ala...
But I’ve only ever seen a single vendor offering it. 0 for Wero so far.
So once it has really broad support and can be used as merchant, is when it'll maybe become interesting.
But it's been confirmed they are merging with companies that are already B2C in their own countries to bring a european B2C system
Cool, awesome, that's gonna be a great monopolistic picture for those that get unbanked across the entire Internet.
There is a reason why after all these years and other solutions they're still everywhere, and it's not because of their great tooling, their low fees or their awesome support for merchant. It's not because of market lock in either, at least here in Europe they're merely a middle man between my credit card or sepa bank account and the merchant. It's because buyers trust it.
Buyers don't trust stripe. Stripe is for the merchant.
I will never use PP for a large purchase again.
It doesn't have assets? It's not a bank
Is it because PayPal is integrated already into so many websites?
Wouldn't it take decades to make back $50 Billion in fees?
They also hold a lot of financial data of its users, which is certainly worth more than anything that could ever make sense to my pleb brain.
Not sure if either of those reasons would be what Stripe wants here, but just my two cents. I'm American fwiw.
https://www.frbservices.org/financial-services/fednow/about....
haven't been following the drop because otherwise I thought that Paypal was more valuable than Stipe + Advent combined (which seems to have previously been the case) - and so I would have thought Paypal would have been buying the other companies and that this was some weird way to try to devalue a competitor by offering to buy them
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 impossible. Their tax division specialists also replied by email with big bold red letters outlining how it's not possible and that I'm wrong multiple times. They were contacted through support cases I opened with other reps on the phone since they aren't directly accessible on phone.
Then I said I was canceling my account with them if this wasn't resolved since it would have resulted in me needing to pay $400 to have my taxes amended. Long story short, after being ghosted for 3 months they replied to me saying I was right and they indeed had the impossible problem, then fixed their tax forms a week before taxes were due.
It's really bad that a random person on the internet discovered a huge issue with one of their partners and their instinct was to require ~10 hours of back and forth phone calls, multiple emails, me giving them the likely problem and solution on day 1 only to be lead on and ignored for months until the very last second.
Consolidation in this industry puts my ability to transmit money at greater risk.
For instance, CNN really doesn't matter, and was a tiny part of WB/Discovery, but of course Trump cares deeply about (hating) CNN, so all that was needed to win over Trump and guarantee his approval was for the acquirer to whisper to him that they'd do a housecleaning there. This lifehack would work for acquiring any company that happens to control any media property that hasn't established itself as a Trump cheerleader.
Note: I'm not even a Democrat today, but the pure and petty corruption on display definitely sickens me.
[1] though, back when it was, the bribes were astoundingly high ROI due to how cheap they were!
At least the others offer the hope that maybe some customers will pay directly from a Stripe/PayPal account, without the high commission and high risk of a Visa/MasterCard network transaction.
Also, PayPal does not lower a vendor's commission. If they pay with a PayPal cash balance, PayPal still charges the merchant a premium flat rate (often 3.49%) and simply pockets the entire spread. They don't pass the savings down. And consumer's don't have a Stripe account to pay from, Stripe is probably aiming for PayPal wallets via this move.
3DS2 is the solution to that problem.
But we aren't there yet.
And as a consumer, I especially hate PayPal because they always try to screw me with their currency conversion rates by hiding the toggle button (and it happens that I sometimes forget to toggle over to my bank's currency conversion)
And only once have I ever won a payment dispute there (and that was as a merchant, not a buyer... lol)
I did until October 2022, when PayPal published an update to its Acceptable Use Policy that threatened to fine users $2,500 for promoting "misinformation".
Like they were the arbiters of what is misinformation and worthy of economic penalty. While it was later rescinded, it was beyond the pale. It's proof that something is corrupt and completely out to lunch in their management, and I won't sign up again after deleting my account in protest.
At least for me, Zelle is something I can do in my bank app, so I don't need to work with anything I wasn't already using.
It feels a lot easier to use than Venmo, but I dunno. It's one of like 7 options I have to transfer in the bank app.
digitaltrees•16h ago
toomuchtodo•15h ago
ergocoder•13h ago
nickjj•27m ago
dlcarrier•12h ago
If there wasn't a regulation-ensured duopoly, everyone would be switching to RTP or FedNow which each charge 4.5¢ per transaction, without an additional commission.
digitaltrees•2h ago
charlieyu1•1h ago
nozzlegear•51m ago
digitaltrees•30m ago
https://www.justice.gov/archives/opa/pr/justice-department-s...