Lütke: Getting a Merchant Account in 2004 Took Two and a Half Months
Tobi Lütke · #41 Tobi Lütke: The Trust Battery · Sep 18, 2018 · at 11:10
Shopify CEO Tobi Lütke reflects on the operational friction of launching his snowboard store in 2004 compared to the merchant account process Shopify provides.
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“I had to make a copy of my passport and fax it to American Fork Utah to get a merchant account. That process took two and a half months. Of course, after you sign up in Shopify, you just have a merchant account, and therefore you can take credit cards and these kind of things.”
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