Stripe Terminal – Programmable point of sale

Re:Stripe Terminal – Programmable point of sale by wbronitsky on Monday September 17, 2018 @01:10PM (#18007794)

I understand how the system works; the requests hit the API before the credit card network. Hence the ability to cut out the network if Stripe is willing to take the chargeback/fraud risk.

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Re:Stripe Terminal – Programmable point of sale by Domenic_S on Monday September 17, 2018 @04:22PM (#18009678)

You're saying Stripe would process directly when their own card is used on their own network, and then outside the network they'd process through visa/mc?

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Re:Stripe Terminal – Programmable point of sale by password03 on Monday September 17, 2018 @07:00PM (#18010858)

Well something like that depending on the Stripe infrastructure.

That currently happens when an issuer card is used in a merchant that is acquired/processed with the same issuing bank. It is called an "on us" transaction and doesn't need to fire through the card scheme rails.

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Re:Stripe Terminal – Programmable point of sale by jjeaff on Monday September 17, 2018 @10:42PM (#18012043)

I assume that still incurs a visa fee. Perhaps just bypasses the underwriting. Otherwise, I can't imagine visa would allow this.

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Re:Stripe Terminal – Programmable point of sale by password03 on Tuesday September 18, 2018 @06:59AM (#18014136)

I can't see how they could disallow it to be honest. That would be seriously anti-competitive.

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Re:Stripe Terminal – Programmable point of sale by docker_up on Monday September 17, 2018 @01:23PM (#18007901)

No, they would need to become money transmitters according to what you wrote above. AFAIK they aren't money transmitters yet.

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Re:Stripe Terminal – Programmable point of sale by screature2 on Monday September 17, 2018 @01:53PM (#18008180)

They list themselves as having money transmitter licenses across the US.

see e.g. https://stripe.com/us/payments and https://stripe.com/connect (under "Rigorous Compliance" and "Compliance respectively").

You'll also find them on CA's directory of money transmitters. http://www.dbo.ca.gov/Licensees/money_transmitters/money_tra...

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Re:Stripe Terminal – Programmable point of sale by wbronitsky on Monday September 17, 2018 @01:33PM (#18008007)

It depends on the jurisdiction, but they are in many! It is something they have been working towards for quite some time.

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