Limerick brothers John and Patrick Collison, 28 and 25 years old respectively, who are billionaires after inventing Stripe, an online payment company worth $5 billion at current valuation, are about to become household names in America and across the world. Both brothers are living in Silicon Vallley in California where Stripe is based.
The Stripe success story will be featured on “60 Minutes” on Sunday night as their far simpler method of processing payments endangers such massive companies at PayPal and even major banks processing credit card bills because it is so easy to use.
The Limerick brothers are interviewed by veteran reporter Leslie Stahl who tweeted from “60 Minutes” that the company may well replace traditional banking methods of processing payments.
In a preview of the show Patrick Collison shows reporter Lesley Stahl how the payment system works, setting up an online payments system for a fictitious company in just five minutes. Today it usually takes weeks or even a month to do that.
”It doesn’t need to take any longer (than five minutes). This is how it should work,” Patrick Collision tells her.
Patrick was recently invited on the President Obama historic visit to Cuba and asked to help in making online trading between the two countries possible.