Stripe’s reach as a processor probably isn’t broad enough to see those kinds of trends. Their processing fees are quite high so there’s huge industry sectors that will just never touch them.
Re:Stripe Layoff 14% of Workforce
by bastardoperator on Thursday November 03, 2022 @11:05AM
(#33452129)
I don't know why you're getting downvoted because everything you said is 100% true. Stripe is small time when it comes to merchant services.
Re:Stripe Layoff 14% of Workforce
by tomnipotent on Thursday November 03, 2022 @11:06AM
(#33452148)
Stripe processes in the area of $350-400bln annually, which is equivalent to about 1/10th the GDP of the U.K. That's absolutely enough volume to see macro trends as it relates the classes of merchants they support.
FIS, which I don't even think is one of the largest, does over 600B per quarter in the globally and 12 figures yearly.
Stripe needs to 6-7x its processing to be one of the largest.
Re:Stripe Layoff 14% of Workforce
by tomnipotent on Thursday November 03, 2022 @02:07PM
(#33454985)
Who said anything about being the largest? The question was whether they have sufficient data to make predictions about future trends, especially as it applies to their business.
I thinks as a payment processor, they are in a better position than most to predict sales trends. This effect might be restricted to their segment of the market. But if the payments they process are down significantly, then does it matter (to Stripe) if parts of the economy that they aren’t involved in are more robust?
I’m not excusing actions, but they have more data on the economy than most, just from their position in it. They may have thought (their part of) the market was going to keep growing (the mistake), but that doesn’t change the fact that it isn’t.
I just feel bad for everyone affected.