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Sorry, I think you are a bit mistaken about how payment platforms work. Stripe and PayPal provide an interface to a country's banks. In exchange for abstracti
by jmchuster 6y ago
Sorry, I think you are a bit mistaken about how payment platforms work. Stripe and PayPal provide an interface to a country's banks. In exchange for abstracting away the underlying bank infrastructure, you pay them a fee for every transaction. Stripe and PayPal support a limited number of countries and a subset of the bank's functionality. So if you want to interact with any new countries or access any non-supported financial instruments, you'll have to directly integrate with the banks and implement those yourselves. To give you a sense of scale, Uber's payments volume is like 10% of Stripe's.
- wpnx 6y agoCurious; where did you get the 10% number from
- jmchuster 6y agoHere's an estimate of Stripe's yearly transaction volume at $200 billion https://www.forbes.com/sites/christianowens/2019/09/21/stripe-isnt-overvalued-at-35bn-you-just-dont-understand-twenty-first-century-commerce/ https://www.forbes.com/sites/christianowens/2019/09/21/strip... Here's Uber's announced results of $18 billion in gross bookings https://investor.uber.com/news-events/news/press-release-details/2020/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2019/ https://investor.uber.com/news-events/news/press-release-det... Round that to significant figures and you get 10%.