Stripe, the online credit card processor started by the Collison brothers from Limerick, has announced they will stop processing online payments for Donald Trump’s campaign.
The ban by Stripe will cause huge problems for the Trump fundraising ventures as the company has become by far the biggest operator in the field. Trump is said to have raised up to $250 million since the presidential election.
Stripe has joined many US corporations, including Marriott, Blue Cross, Blue Shield, and Citi Bank, who have all announced they will no longer give donations to Republicans who helped launch the Capitol riots in Washington last week.
John, 30, and Patrick Collison, 32, are the world’s youngest billionaires with their Silicon Valley company worth an estimated $35 billion. They moved to Silicon Valley after they were unable to secure funding for Stripe and previous ventures in Ireland.
They have long advocated for good corporate citizenship and have spoken out against China’s treatment of the Uighur people, a Muslim community persecuted by the Xi Jinping government.
Stripe handles online payments for millions of businesses. Stripe's terms of service prohibit its service to be used by any "high risk" business that "engages in, encourages, promotes, or celebrates unlawful violence or physical harm to persons or property."
The company is joining a growing group of American corporations stunned by the scenes from DC last week. Specifically targeted will be the politicians who voted against accepting the election results.
Meanwhile, a number of social media platforms, including Twitter, Instagram, Facebook, and YouTube, have all banned Trump from posting on their sites. Twitter banned the outgoing President because of a "risk further incitement to violence."