satansbartender

u/satansbartender@lemmy.world
1 posts · 21 comments

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on *Permanently Deleted* · c/memes · 3 pts · 1y

They're not payment processors. Not saying they're not at fault for anything, but the whole fucking payments industry is complicated as hell with a ton of different layers between different companies and anyone of them could've been the ones to cause this issue. People are just circle jerking on Visa and MC because they're the biggest dogs in the chain

That's not quite true.

There are several layers between point of sale and the card brands and each layer is generally an independent company. Each of those companies makes or sells hardware and/or software that is used by the companies lower in the chain.

Square takes up several of these layers at once and charges much higher fees than other processors. The high fees and massive market coverage is why they exist, not because they're chewing through VC funds still.

I think that's all fair.

I was really interested in the idea of using it as a way of growing my offline and/or self hosted collection. Fair compensation for artists while still being able to have good new music discovery and grow my library at the same time would be really cool.

Still to be seen if they can manage, to your point, but I'll hold out a little hope until they lose their goodwill