The news was revealed by Stripe co-founder Jason Collison during a panel at Tech Crunch Disrupt in New York on Tuesday. He spoke on the complexity of the credit card processing industry, which gives Stripe the advantage to acquire larger companies to service.
“That was a big opportunity for Stripe, but you kind of think that it shouldn’t be,” Collison said. “credit cards are this instrument that everyone has. Fundamentally, these companies bring a very valuable service.” But he then shared his thoughts about fees.“It makes it very difficult for merchants to manage their businesses,” he said. “There is no cost to using Stripe. We have one clear transaction fee and that’s it”.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.