Patrick Collison: PayPal was designed for consumers, not internet businesses
Patrick Collison · Stripe: Patrick and John Collison (2018) · Mar 9, 2020 · at 14:30
Stripe co-founder Patrick Collison explains the gap in online payment infrastructure that Stripe was created to solve.
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“So the basic issue with PayPal was that it's designed for consumers, not for businesses. And so if you're building an app, if you're building, you know, a website, if you're building a new marketplace, something like this, PayPal works okay for sending, you know, 20 dollars from Joe to Jane. Where it works much less well is when you want to do this at scale. You want to sort of build an automated integration to your website where you're running a business with it. PayPal just isn't designed for the business use case.”
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