Why, what is the play here? I know PayPal is used extensively in some countries (like Brazil?) but in most countries there are other/local services that have substantial market share and I do not think that PayPal can compete.
https://www.frbservices.org/financial-services/fednow/about....
At least for me, Zelle is something I can do in my bank app, so I don't need to work with anything I wasn't already using.
It feels a lot easier to use than Venmo, but I dunno. It's one of like 7 options I have to transfer in the bank app.
2. (Insert healthy amount of distrust of anything the banks all want, because there's zero chance it's in consumers' best interest)
3. We don't control anything, Zelle does. I have 5 bank accounts (multiple banks). I have one cell phone number, and of COURSE Zelle, like the banks that run it, insists on using cell phone numbers as basically their primary key and only identifier. When someone pays me by putting in my number, where will the money go? F--k if I know!
Not sure if either of those reasons would be what Stripe wants here, but just my two cents. I'm American fwiw.
Will Stripe move customers from PayPal to Stripe or will they fix PayPal?