4 ms·

1.6 percent of global GDP blows my mind.

by rprend 8mo ago

deleted 8mo ago
[deleted]
jez 8mo ago
For comparison, Visa's stated FY 2025 (ended Sep 30, 2025) payments volume was $14.2T. rough math, but: $14.2T / $1.9T * 1.6% = 12% global GDP
- rprend 8mo ago
  I was curious, and the American Clearing House has a TPV of $93 trillion, which means ACH is 78%?? That seems too high. Oh - not all bank transfers count in GDP. I often move money from one account to another. Note that Visa has the same issue: withdrawing money from an ATM shouldn’t count towards GDP! Neither does Vemo-ing a friend to settle up a split restaurant bill (my Venmo is attached to my debit card).
- reactordev 8mo ago
  At least it’s not 24.9% Americans and credit have an unhealthy relationship.
  - oliyoung 8mo ago
    Not all VISA or Mastercard transactions are credit backed, I'd argue that the large majority aren't anymore they're more commonly debit VISA/Mastercard
hwhehwhehegwggw 8mo ago
Why will a number blow your mind? Have you thought about how Universe exists from nothing?
- rprend 8mo ago
  I find it inspiring. I relate to the Collison brothers. They're a couple of hackers from Ireland. It blows my mind that a couple young guys like that can build something and in 20 years capture 2% of the entire world's economic activity.
  - trollbridge 8mo ago
    They haven’t captured 2% of global economic activity any more than Visa has captured 30%.
    - DANmode 8mo ago
      Captured value from.
Centigonal 8mo ago
Well, it's not exactly a fair comparison, since they're comparing a volume number with GDP, which is total value produced in a year. Volume numbers are usually much bigger than production numbers, since money moves around a lot. If I pay a restaurant $200 for dinner and my three friends each venmo me $50 for their share, then the exchanged volume was $350, but only $200 worth of value was generated.
- rprend 8mo ago
  Stripe doesn’t power money transfers, just commerce. So 100% of stripe volume is economic activity.
  - est31 8mo ago
    If I buy something worth 17$ from an SMB's website, and the SMB buys their ingredients from their merchants via stripe for 10$, then those suppliers get a bill for 8$, then that's still only 17$ of GDP, but 35$ of stripe transactions.
    - rprend 8mo ago
      You’re absolutely right i didnt think of that. Isn’t this what they call velocity of money? So we’d need to calculate the “velocity of stripe” (the flow of dollars within the system).
    - csomar 8mo ago
      I think the parent is correct in saying that’s an economic activity though it’s not GDP (Gross Product). It’s difficult to do circular transactions with no “economic value” in stripe the same you can do with bank accounts/wallets.
  - Sebguer 8mo ago
    Do you consider Wise.com to be 'commerce'? Love when people make up percentages and facts!
    - 8mo ago
antiford2049 8mo ago
this number is a little misleading, to put it mildly.

1.6 percent of global GDP blows my mind.

by rprend 8mo ago

1.6 percent of global GDP blows my mind.

deleted 8mo ago

[deleted]

jez 8mo ago

For comparison, Visa's stated FY 2025 (ended Sep 30, 2025) payments volume was $14.2T. rough math, but: $14.2T / $1.9T * 1.6% = 12% global GDP

rprend 8mo ago
I was curious, and the American Clearing House has a TPV of $93 trillion, which means ACH is 78%?? That seems too high. Oh - not all bank transfers count in GDP. I often move money from one account to another. Note that Visa has the same issue: withdrawing money from an ATM shouldn’t count towards GDP! Neither does Vemo-ing a friend to settle up a split restaurant bill (my Venmo is attached to my debit card).
reactordev 8mo ago
At least it’s not 24.9% Americans and credit have an unhealthy relationship.
- oliyoung 8mo ago
  Not all VISA or Mastercard transactions are credit backed, I'd argue that the large majority aren't anymore they're more commonly debit VISA/Mastercard

hwhehwhehegwggw 8mo ago

Why will a number blow your mind? Have you thought about how Universe exists from nothing?

rprend 8mo ago
I find it inspiring. I relate to the Collison brothers. They're a couple of hackers from Ireland. It blows my mind that a couple young guys like that can build something and in 20 years capture 2% of the entire world's economic activity.
- trollbridge 8mo ago
  They haven’t captured 2% of global economic activity any more than Visa has captured 30%.
  - DANmode 8mo ago
    Captured value from.

Centigonal 8mo ago

Well, it's not exactly a fair comparison, since they're comparing a volume number with GDP, which is total value produced in a year. Volume numbers are usually much bigger than production numbers, since money moves around a lot. If I pay a restaurant $200 for dinner and my three friends each venmo me $50 for their share, then the exchanged volume was $350, but only $200 worth of value was generated.

rprend 8mo ago
Stripe doesn’t power money transfers, just commerce. So 100% of stripe volume is economic activity.
- est31 8mo ago
  If I buy something worth 17$ from an SMB's website, and the SMB buys their ingredients from their merchants via stripe for 10$, then those suppliers get a bill for 8$, then that's still only 17$ of GDP, but 35$ of stripe transactions.
  - rprend 8mo ago
    You’re absolutely right i didnt think of that. Isn’t this what they call velocity of money? So we’d need to calculate the “velocity of stripe” (the flow of dollars within the system).
  - csomar 8mo ago
    I think the parent is correct in saying that’s an economic activity though it’s not GDP (Gross Product). It’s difficult to do circular transactions with no “economic value” in stripe the same you can do with bank accounts/wallets.
- Sebguer 8mo ago
  Do you consider Wise.com to be 'commerce'? Love when people make up percentages and facts!
  - 8mo ago

antiford2049 8mo ago

this number is a little misleading, to put it mildly.