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The untold story of Stripe, the secretive $20bn startup driving Apple, Amazon and Facebook | WIRED UK
Patrick and John Collison have democratised online payments – and reshaped the digital economy in the process
Wired  Stripe  Patrick_Collison  John_Collison 
2 days ago by GameGamer43
The untold story of Stripe, the secretive $20bn startup driving Apple, Amazon and Facebook • Wired
Stephen Armstrong:
<p>Over the past year, 65% of UK internet users and 80% of US users have bought something from a Stripe-powered business, although very few of them knew they were using it. Where PayPal injects itself into the checkout process, Stripe operates like a white-label merchant account, processing payments, checking for fraud and taking a small percentage: 1.4% plus 20 pence for European cards and 2.9% plus 20 pence for all others. The buyer sees the seller’s name on their credit card statement and, unless the merchant specifically chooses to deploy the Stripe logo, that’s all they’ll ever see.

“It’s not the cheapest provider but it does remove all other intermediaries so it’s the only fee you’ll pay,” Hodges explains. “And if that’s all they did, they’d be interesting. It’s what they did next that’s revolutionary.”

“For many years Stripe had been trying to work out how to deal with what seemed like an obvious opportunity,” explains Billy Alvarado, Stripe’s chief business officer. Alvarado grew up in Honduras, where, in 1998, Hurricane Mitch took out all three bridges in the capital city. “Suddenly you had men, women and children, literally in rubber boots with these pads on their shoulders selling piggy backs across the river to men in suits and women in work clothes,” he recalls. “If you go to any country, you see entrepreneurship everywhere. A lot of these entrepreneurs would love to launch a global internet business. They find it difficult to trade on the world market – but these are literally millions of nascent businesses. We were just trying to work out how we can help them do that simply.”

On February 24, 2016 the company launched the Stripe Atlas platform, designed to help entrepreneurs start a business from absolutely anywhere on the planet. The invitation-only platform allows companies from the Gaza Strip to Berwick-upon-Tweed to incorporate as a US company in Delaware – a state with such business-friendly courts, tax system, laws and policies that 60% of Fortune 500 companies including the Bank of America, Google and Coca-Cola are incorporated there for just $500.</p>

Would be great if Delaware would also reform itself so that you could trace ownership of businesses registered there, and bring dirty money to account. Hardly Stripe's fault it would use it, though.
Stripe  payments 
8 days ago by charlesarthur
Why Stripe Atlas is Bad for Foreigners and you - Flag Theory
Stripe Atlas' recent announcement that it is now in the corporate services business has people calling it a "game changer." Really?
stripe  atlas  tax  incorporation  hn  hongkong 
18 days ago by otlib

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