Is it good to complete with giants like Stripe?
I have a radical idea, if it succeeds it will cut a share in Stripe market. Is it a good idea to spend time and effort competing with such big companies? I am afraid they will swallow small players.
I have a radical idea, if it succeeds it will cut a share in Stripe market. Is it a good idea to spend time and effort competing with such big companies? I am afraid they will swallow small players.
I've worked for a Payment Service Provider that covers the local business (Austria, Germany, ...).
Its a hard branch to be in, lot of compliance stuff (PCI, ...)
The only thing you can do is to base on another PSP and do things like https://www.chargebee.com/
Okay.
As it seems to be unique from those competitors, then it would be worth exploring more. What would be better is if your idea can target a niche with your idea as opposed to taking a broad approach to the customer base.
The main issue is the idea is radically different. Once released to market(even for a small segment) its easy for big players to recognize the potential. I am not sure how to segmentize, there are only three players, 1) Payer 2) Middle-Man 3) Payee.
Are you solving a problem they are not that companies are willing to pay you for? Then go for it. If you are trying to do the same thing as they do, why do you think somebody would choose your product?
It's not the same thing, as per my research no company is doing that right now. Completly new idea which greatly benifit and tempt end users.