Online payments firm Stripe opened new in-store service, Terminal, that enables merchants to accept card payments, competing with Square

Briefing

September 20, 2018

Briefing	In-Store Payment Terminals – Online payments company Stripe launched Terminal, new product that facilitates offline credit and debit card payments at brick-and-mortar stores Components – Include card readers, software development kits (SDK), application programming interface (API) to customize checkout experiences, and cloud-based software for managing connected devices Initial Customers – Include Warby Parker and Glossier, as well as software platforms Mindbody, Zenoti, AtVenu and Universe Competition – Competes with Square which offers card readers for businesses like coffee shops and restaurants Fees – Merchants to be charged with 2.7% fee plus five cents per transaction
Market Disruption	New Payment Technologies
Business Model and Practices Business Model and Practices	New Customer Segments
Sector	Financial Services
Organization	Stripe
Source	Ha, A., "Stripe moves into brick-and-mortar payments with Terminal", TechCrunch, https://techcrunch.com/; "Stripe moves into in-store payments," Finextra, https://www.finextra.com/; AcceleratingBiz analysis
Original Publication Date	September 17, 2018

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