Stripe might be unknown in Wall Street, but a partnership with some of the biggest tech companies is sure to make it a mainstream name in the years to come. CEO and co-founder, Patrick Collison, is one man that is destined for greatness having sealed deals with the likes of Apple Inc. (NASDAQ:AAPL) and Twitter Inc. (NYSE:TWTR) to facilitate global payments.
Stripe is already powering the ‘buy’ button on Twitter Inc. (NYSE:TWTR) exposing its innovation to millions of people around the world. The three-year-old startup is also powering a similar ‘buy’ button on Facebook Inc. (NASDAQ:FB) as well as supporting a number of apps running on Apple Inc. (NASDAQ:AAPL)’s Apple Pay.
Its biggest business has to do with its partnership with Alibaba Group Holding Ltd (NYSE:BABA). The largest payment system in China that has essentially exposed it to millions of transactions in a day. Stripe has now made it possible for western sellers to transfer money with ease to China as well as carryout transactions. Most of the people in China don’t use credit cards to finalize transactions but essentially rely on services offered by the likes of Alibaba, therefore, offering Stripe a clear avenue for growth going forward.
Having sealed deals with Twitter Inc. (NYSE:TWTR) and Apple Stripe is looking to differentiate itself in the fast-growing payment system that could clock hundreds of billions in transactions in the years to come. The company is looking to tap into markets where credit cards are not a common mode of carrying out transactions.
A partnership with Apple Inc. (NASDAQ:AAPL) on Apple Pay is especially of great importance in the wake of reports that iPhone 6 demand has surpassed earlier expectations. A push by Twitter to popularize its buy button so that more and more users can buy and sell goods on the platform is expected to enhance Stripe’s popularity in the payment space.
Initially, partners did not a take a key interest in Stripe partnering with Alibaba for Alipay, but with the possibility of the platform enjoying access to over 1.3 billion people. There is no one who can give the idea a second thought.
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