Jerome Powell Quotes

We don't think there is any money to be made in payments anymore. The entire business model of extracting a toll or having time delays around the movement of value is going away completely.

Our idea with starting Stripe was to build better payments technology for people building things on the web.

It's easy to talk to people over the Web, but it's not very easy to trigger transactions. That's the thing we set out to fix with Stripe.

Stripe is building payment infrastructure for the Web, so we make it easy to accept credit cards online. Before Stripe, the way you'd do this is using the legacy banking structure. It was slow, it was complex, it was expensive. It had this very chilling effect on e-commerce.

Apple already had everyone's billing information from iTunes... you could buy things just by typing in your password... That, for the first time, brought very, very easy payment to the modern software world. That, more than anything, is why there is a business for paid apps.

A number of people in the United States, almost everyone, is using plastic cards to pay for things, but it's extremely difficult to accept these cards. So let's make it's easy and take more and more of the friction out as we can.

One phrase we use at Stripe is, 'Most tech companies are building cars. Stripe is building roads.'

PayPal's been around forever. How do we use that platform to solve the future of commerce?

Low-value payments are now possible. Now, Ripple can make it easy for Facebook and Uber and Amazon to make payments to developers in real time. It's online and completely global.

As we think about the future, one of the things we will do is to make sure PayPal becomes the central part of consumers' lives, how we enable consumers to manage and move their money more efficiently, easily, and less expensively than some traditional ways.

The part of Stripe that I've always found most interesting is the idea of facilitating new commerce that wouldn't otherwise happen. Payouts is turning out to be a big part of that. These new networks are efficient, intelligent replacements for offline behemoths.

Square is turning informal, cash transactions, like you would do with a taco truck, into card swipes. Stripe is more for the Internet, it's focused on the kinds of transactions that weren't possible years ago. We think about how you would buy things from a mobile phone, crowd-funding, how should that work.

When a country doesn't have a good economic infrastructure, that harms the country. With Stripe, the idea is that by providing better infrastructure, by linking the Internet economically, by making it easier for these online businesses to exist, it'll make the web better.

Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion.

Stripe really did come about because we were really appalled by how hard it was to charge for things online.

What interests us in Stripe is the idea that there could much more commerce happening on the Internet.

Our initial idea with Stripe was that for people like us - those building apps and websites - it was incredibly difficult to take payments. So with an open mind, and maybe a useful lack of knowledge about the industry, we started building a payment product.

Amazon Web Services for payments is an apt description of Stripe.

Stripe was very much the product of our past experiences.

A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.

We're barely scratching the surface of how people experience and utilize p2p payments, despite it being a multi-millennium-old behavior.

What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.

Payments is a hard business. It's a messy business, with not necessarily the largest of margins.

Digital payments have already made it easier to move and manage money. While there's more work to do, the potential is real and understood.

PayPal exists because banks are not interoperable: I can't efficiently pay you $10 unless I'm giving you a $10 bill. So we're all on PayPal and Venmo, I need interoperability on the same ledger.