jesseangell

And they're likely not including merchant accounts that will have their own price attached aside from whatever Visa will want to use their gateway.

This is not targeted at your average merchant.

Correct. They're definitely not targeting people that are just beginning to process payments.

Their intention is to likely attract really large merchants/platforms, one way or another.

Stripe is a gateway. They communicate with processors. The processors handle authorization/settlement between the issuer and acquirer.

This product is essentially a gateway. The same that Stripe or Braintree are gateways. They just do a much better job of abstracting the confusion that is payments.

You will still need a merchant account and a processor. A processor is the party that actually handles authorization/settlements between the issuing bank and acquiring banks.

Agree with you completely. It's pretty frustrating how it works, and I really wish Apple would release some documentation on this.

I'm sure there is more to be found reverse engineering but once I had enough figured out for our uses I stopped.