The mobile economy is delivering opportunities and reminding businesses of the challenges that the online environment has also created. Even with the evolution and improvements that have come in the payments industry, there are still issues for companies to sell their products online in the same convenient way that they can do in person.
For innovators like John Collison, Founder of Stripe and the youngest self-made billionaire, this was a challenge he couldn’t pass up. He sat down with the Wall Street Journal’s Thorold Barker to discuss how the process of inventing solutions for the mobile and online payments industry -- and the companies that use them -- is an evolutionary process.
Seven years later, Stripe is valued at $9 billion. While some may think they’ve hit success, Collison continually brings up the future and the need to continue improving their solutions. With changes like Brexit in the UK and the ongoing issues around the complex payments space, including compliance, fraud, and data handling, a great solution does not stay great forever.
Instead, Collison believes that their growth from two people (him and his brother) to 750 global employees will only help with the need for regular re-invention. The accumulated experience gained through this growth in talent serves Stripe well. They bring new ways to look at the problem it focuses on.
To hear more about Collison’s perspective on the future of payments, including the opportunities within blockchain technology as well as the growth in strategic partnerships to address the trend of companies starting up in far-flung locations and becoming global enterprises at a faster rate, check out the rest of the discussion here from Startup Grind Europe.