Walt Mossberg Quotes

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.

Twitter was around communication and visualizing what was happening in the world in real-time. Square was allowing everyone to accept the form of payment people have in their pocket today, which is a credit card.

Online commerce is being replaced by mobile.

People who are using it to sell things on Craigslist to holding garage sales - campaigns - the Obama campaign and the Romney campaign both used Square to raise funds.

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.

For people who use Google Wallet, the experience works.

I envision a day when a businesswoman will be having lunch, and then her phone will ring. When she opens it up, she will see an image of the latest Marc Jacobs coat that just arrived in stock. With a click of a button, she can purchase it and then find it waiting for her when she gets back to her office.

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

I don't carry cash often. I'm all about the plastic.

I was fascinated by the fact that in Osaka, we saw people using their cell phones to pay for small goods.

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

For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.'

Our strategy is to provide even more value to users and tie the Venmo community into the PayPal merchant marketplace so that they can use Venmo to buy things.

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

Social messaging has become the defining app of the smartphone era. Social payments has been a natural extension of this phenomenon - it's going to be the locus of most communications activity.

In the not-too-distant future, commerce is just going to be commerce. It won't be online commerce or offline commerce. It's just going to be commerce. And that will happen because of the phone.

This is the thing that I think we're all learning from the Chinese: that this merging of messaging, media, and payments together really makes sense to people.

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.

Venmo is one of the jewels of Paypal.

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.

An efficient payments system provides the infrastructure needed to transfer money in low-cost and convenient ways. Efficient systems are innovative in improving the quality of services in response to changing technology and changing demand.

The same way we can send and receive an email with anyone, anywhere, for free, or we can share a photo with anyone instantly for free, money will become these digital tokens, and we'll be able to do that with money.

If you think about the under-30 generation, the millennial generation - GenTech, as I call them - they grew up with a screen in front of them. And so they think about everyday processes, like payments, differently than you and I do.

Banks provide payment systems, core deposit and lending facilities that enable us to manage our day to day affairs.