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limone.eth 🍋
@limone.eth
it's been a couple of months since I started building drift.money i've spoken with many stakeholders across stablecoin and crypto payments ecosystem, but also with merchants and businesses entirely new to this space here are some key learnings i keep in mind as i build 🫡
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0xSprint
@jjor
Interesting. In your experience, did you meet 1) Merchants that understand the middlemen (for example Stripe or CC fee's) and 2) Do they care about cutting that fee down to near 0 via crypto rails? For example in the Ticketing industry, event organizers want the fee per ticket as low as possible (for example $0.50 cent). PSP fee's like Stripe are a large % part of fee per ticket, billed to the Merchant. From experience I know those merchants (merchants = event organizer in this case), would love to pay less PSP fee's, but crypto is cumbersome in their mind as not a lot of customers have crypto. There's a long road still to be walked here, as most Merchant don't want 2 PSPs (1 fiat, 1 crypto) in 1 flow as this sucks from accounting consolidation and funds perspective. So a PSP that accepts crypto + fiat but settles to the merchant in stables might be an interesting route. The crypto route should be lower in fee as its crypto to crypto so there's incentive to push for merchants to "reward" this behavior.
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limone.eth 🍋
@limone.eth
agree with your analysis however i didn’t specify that i was talking to in-person merchants mainly, like bars, restaurants, shops..
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0xSprint
@jjor
Aha ok. Yes for them its way more straightforward user journey, people only want tap and pay. Anything more complicated gets difficult in a bar full of people.
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