Stripe Terminal – Programmable point of sale

Re:Stripe Terminal – Programmable point of sale by wbronitsky on Monday September 17, 2018 @01:09PM (#18007773)

I think you might be surprised how much risk Stripe is willing to take on when they can gain hundreds of basis points on cutting out the networks. Only time will tell though :)

[ Parent | on HN ]

Re:Stripe Terminal – Programmable point of sale by docker_up on Monday September 17, 2018 @01:22PM (#18007893)

Not if it means having to turn into a bank. The repercussions on their business will be draconian. Although I would be surprised if they haven't already explored or fully gone through a money transmitter license for a subsidiary.

[ Parent | on HN ]

Re:Stripe Terminal – Programmable point of sale by qaq on Monday September 17, 2018 @02:30PM (#18008599)

Can't they just buy a Bank?

[ Parent | on HN ]

Re:Stripe Terminal – Programmable point of sale by rossdavidh on Monday September 17, 2018 @02:42PM (#18008730)

Almost certainly they would, and there might be some small banks out there they could buy or merge with. That would get them out of a lot of legal issues, and also buy them some relevant legal expertise.

However, I seem to recall WalMart investigating this option a while back, and it never happened. It may be that the more you look at the option of becoming a bank, the more it looks like it would take over your life/business. Also, there are doubtless many lobbyists who the existing banks employ who would try to stop it.

[ Parent | on HN ]

Re:Stripe Terminal – Programmable point of sale by qaq on Monday September 17, 2018 @02:54PM (#18008868)

I think the issue is being a bank vs owning a bank.

[ Parent | on HN ]