Uber and all it’s subsidiaries, Lyft, door dash etc mostly used stripe, square or some other POS. #tech
Actually no barriers to entry are low read any payments company ipo prospectus
Companies want to focus on building features that are core to their business everything else is distraction. Especially for payments it's fairly complicated to get it right. It's like asking why do companies use Google doc or Word. Why can't they just build their own
They did, but it sucks. So, it's sold as a feature add to enterprise customers buying G Suite
Let me try to explain in layman terms Payments in general is misleading term that usually is believed to be just transfer of credit from one to other. If at all, this is the easiest part with services like PayPal, apple pay, google pay or even being merchant on record with gateways (like adyen). Now lets talk what make its complicated. 1. Transaction risk - when you see an unauthorized transaction you call the issuer (chase, bofa etc) and they happily give you your money back. What we dont realize is uber has liability on these and money is recouped from them. This is where money goes. 2. KYC - mandates required to know your customer is different by country, state, county and sometimes city. For a growing company focusing on these mundane tasks takes significant effort and investment. 3. Compliance - abide by every changing law. Again costly affair. Payments is an eco system and lot more than connecting with network for transferring of money and book keeping.
This guy fucks
This guy system designs in sleep
To create empires
Yeah… lets also build a slack, microsoft office, and erp and crm tool as well…
Payments are hard