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by robbiemitchell 2360 days ago
> Yahoo demanded a cut of the merchant's revenue.

Doesn't every payment gateway do this?

2 comments

Viaweb was not originally a payment gateway, just a catalog and shopping cart system. Merchants had to make their own credit card processing arrangements. I used Bank of America. This was so new to them I had to put down a $20,000 deposit. Getting all the parts of the credit card processing chain working properly was a big headache. But in the end, it all worked quite well.
Perhaps it was more like the 30% Apple takes for IAPs instead of the 3% the gateways take?