Brothers Patrick and John Collison, both 26, have been called the “Mark Zuckerbergs of Ireland” thanks to the success of their payments startup Stripe. Stripe was founded in 2010 under the name “/dev/payments”. The name resulted in misspellings and confusion to those outside the company, so the company renamed itself Stripe.
Stripe is a US technology company that lets private individuals and businesses to make payments over the Internet. Many large companies prefer Stripe’s accessibility and the simplicity such as Visa, Apple, Facebook, and many other large corporations. This year Stripe has made a large effort to create mobile commerce that will allow retailers to sell directly to consumers on other apps such as Facebook, Pinterest and Twitter.
The company is catching fire extremely quickly and is adding thousands of customers every year to their already large supply of customers. As of recently, Stripe made a deal to power ApplePay, and it’s now worth $5 billion. Needless to say, Stripe has become the Paypal of the mobile era.
Personally, I admire the innovation of these two entrepreneurs who looked at an idea such as Paypal and applied it to another needed area. Based on their company’s reports, the company seems relatively optimist about the future claiming that 27% of Americans will have bought something through Stripe in the next year.