Stripe, Block, and PayPal each solved a massive pain point.
PayPal provided a way to pay people and vendors without giving away your credit card number.
Square made it easy to accept payment in person on a phone, without an extensive upfront underwriting experience and without expensive fixed monthly fees.
Stripe did the same as Square, but for accepting online payments.
Fraud and Risk come in many forms, and these providers, even with their UX innovations, sit on top of those same rails to reduce fraud. Without those rails, buyers can’t trust sellers and sellers can’t trust buyers.
In my opinion, you need to find a way to solve that problem before you can eliminate the fees being captured by these providers.
PayPal provided a way to pay people and vendors without giving away your credit card number.
Square made it easy to accept payment in person on a phone, without an extensive upfront underwriting experience and without expensive fixed monthly fees.
Stripe did the same as Square, but for accepting online payments.
Fraud and Risk come in many forms, and these providers, even with their UX innovations, sit on top of those same rails to reduce fraud. Without those rails, buyers can’t trust sellers and sellers can’t trust buyers.
In my opinion, you need to find a way to solve that problem before you can eliminate the fees being captured by these providers.