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Stripe sits between a retailer and the banks , a third-party processor and payment gateway that processes debit and credit card transactions
by entrepreneurs who identified a common pain point for consumers . Stripe offers an elegant and powerful solution for the knotty technical problems of payment processing . Founded in San Francisco in 2010 , Stripe was valued in April at $ 36bn , bolstered by the pandemic pushing many businesses online . “ Stripe comes at it from a software engineer ’ s point of view ,” says Slater , “ so all a startup needs to do is insert seven lines of code to its site to handle payments .” Before Stripe , adding payment processing capability would take weeks of development work . Stripe sits between a retailer and the banks , a third-party processor and payment gateway that processes debit and credit card transactions . “ Trillions of dollars are flowing through these networks ,” Slater says . “ So if every online business is using Stripe to process payments , it
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