4 ms·
How to make payments on the internet is huge. It was a big problem. It still is a big problem. Paypal is disliked but that doesn't mean it wasn't working on a
by zt 14y ago
How to make payments on the internet is huge. It was a big problem. It still is a big problem.
Paypal is disliked but that doesn't mean it wasn't working on a big problem. It doesn't mean Paypal wasn't an important start to the solution. Musk and Theil were dreaming big, bigger than photo apps and social media anyway.
Payments on the internet is such a big problem that 1) Andreessen tried to make it part of the original browser [1] 2) Paypal is huge [2], 3) It is likely that Stripe (where I work) and Braintree (Paymill? WePay?) will thrive and 4) we will likely still call it largely unsolved in five years.
[1] "It was essentially impossible to do," Andreessen replied. "We tried. We talked to credit card companies, banks, we weren't able to do it. Microsoft wasn't able to do it." (http://mashable.com/2012/05/01/marc-andreessen-browser-payments/ http://mashable.com/2012/05/01/marc-andreessen-browser-payme...)
[2] "PayPal revenues represented 39 percent of eBay Inc. revenues in Q4 2012. PayPal revenues for Q4 2012 were $1.54 billion, growing 24 percent year over year." (https://www.paypal-media.com/about https://www.paypal-media.com/about)