Maybe true but I’ve never had a worse experience than I have with PayPal, truly an awful company

Yeah, but PayPal is an even bigger pain.

Stripe is also sending me emails with an unsubscribe button that requires me to authenticate. So they’re a pain as a user as well.

Except in Australia, where it barely had 30% saturation, compared to Square’s 60%?

I don't think anything would change. If Stripe's underlying providers (banks) aren't involved then their requirements would not apply.

Stripe doesn't want to reject anyone, but their banks/underwriters do not have a limitless appetite for risk.

Someone new will arise to fill the market gap if there is demand. Saw it firsthand here with the Marijuana industry in Michigan shifting around payment providers to accept credit card transactions after it was legalized. A lot of hoops had to be jumped through. I think it still has the potential to be bad, but it does give opportunities.

Wouldn’t ARR specifically mean subscription type products like you list? Payment processing isn’t annually recurring as I understand it.

It's hard to turn a sinking product around. There's a cultural problem, and those are very difficult to solve.

There's a Munger quote that I don't quite remember, but it went something like this: "When good managers are put into a terrible culture, it's the culture that wins."

When Seagate (then a reputable hard drive manufacturer) purchased Maxtor (then the bottom-of-the-barrel for both price and reliability) I hoped Seagate would rehabilitate their newly acquired facilities and bring them up to the same quality.

I was disappointed.

Yeah! Germany is big in the PayPal game; especially since they introduced delayed payment. There's an new alternative: https://wero-wallet.eu/

I think the reasoning was to be less dependent on the US. I hope to see it exceed – more competition is great.

I have been trying to help someone in Guatemala receive payments from international tourists and PayPal seems to be the best option we've found, even though I don't like using it (horror stories about money being stranded in locked account, etc).

Dutch people always complain that in Germany they can't use their phones to pay. It really does feel like going back to 1995 sometimes.

When a company with good tech buys out a company with crap tech, they're not paying for crap tech — they're paying for the user base.

I would wager that Stripe has already put together a consumer-cash platform, and is weighing whether to deploy it as "Stripe Cash" or "Paypal 2.0". The former strategy would require a slow rollout that would compete with Paypal, Apple Cash, whatever Google and Samsung’s offerings are called… The latter branding would make them the dominant player overnight.

On the other hand, they are getting rid of a competitor.

I hesitate to post this here but I'm not sure Stripe hasn't become most of those things as well now. It's obviously been very successful and I'm happy for the people who built such a useful service in the early years. But I also mourn the loss of the tidy product, transparent pricing, clear documentation, and legendary support that made it exceptional back then.

Haven't you heard? Crime is legal

And it’s still private. So no proper price finding has occurred yet.

You have it backwards, great opportunity to start a niche competitor for whatever feature they'll remove once the acquisition is done!

Not all that different from Musk buying Twitter. Happens pretty often with private equity as a buyer.

Mostly private equity companies do this.

Bending Spoons bought Vimeo.

Hellman & Friedman bought Zendesk.

Do you know anyone using Paze?

FedNow is what has PayPal's former investors so terrified (so much so that investors don't even think PayPal warrants a double digit multiple).

No cost instant financial transfers between US financial users is coming over the next decade. The Fed has 1,400 banks onboard so far, up from 900 the prior year (that's 1,400 in two years). Half of PayPal's business goes away over the coming decade.

Every financial company is known for that.