64 karma · joined December 21, 2017
Not only institutions, but those who are in power (government) who have risk-tolerant positions in the market with nothing to gain but their own discomfort and retirement.
Auth.net is a gateway/portal that facilitates CC transactions, and while you may be refunded on processing fees for the use of the gateway, someone, somewhere is likely eating the interchange and most likely occurring at the merchant level.
I'm a former biz analyst turned boot camp developer. After a couple of years slogging through, I started applying for jobs these past few months, with little to no traction, and as such have been feeling burnt out because I don't know the fundamentals, have little to no support at work, and felt like I had no future professionally.
So this encourages me to keep on learning, building, and hacking as best I can until I can get to an environment that helps me succeed through mentorship, product vision, and a capable leadership team.
Edit: seems to be up now!
linked below!
https://www.investopedia.com/articles/personal-finance/03091...
And offering capital is pretty common among many independent credit card processors.
Also, does your company's engineering decisions change based on other companies' post-mortems?
Stripe is an aggregator, which means they collect all payments and distribute to their clientele. This is why merchant processors like Square and Stripe can often get their customers up and running more quickly. Lower underwriting requirements = less regulation on the merchant. The level of risk is higher so they have to charge higher rates to cover their losses of fraud.
Gravity Payments is an Independent Sales Organization (ISO) which means they underwrite each merchant and "approve" each merchant account with their backend processor. This equals less fraud and more flexible pricing.
We do offer integrations and also have an online product that can process ecomm transactions for developer usage.