Well, you're also missing things like the onerous process that some of the processors would have you go through to sign up. While I haven't been the person to actually setup a Stripe account, my impression is that it's pretty light-weight. From what I remember the business people having to go through to sign up for a merchant account with a processor (for a 100% online business) back in ~2010, it was practically like signing up for a mortgage. There was also back-and-forth between different "levels" of employees on the other side of things. At one point, IIRC the process even stalled because their end stopped responding to enquiries from our company. On top of that we were forced to use their Java middleware crap even though we weren't a Java shop. They made you feel like they couldn't care less about your business.