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Stripe is launching a banking service

In a deal with Goldman Sachs and Citigroup, the online payments processing company will begin offering checking accounts to its customers, according to The Wall Street Journal.


Shopify is among the corporate clients already planning to launch a banking account with Stripe early next year. Stripe's co-founders Patrick and John Collison told the Journal that the expansion into banking will help traditional banks seize on the momentum that's building in the ecommerce space, which has only been amplified by the COVID-19 crisis.

"If you are a Goldman Sachs or a Citi or one of these firms, you are watching the fact that new businesses live their lives online," Collison said. "For the partner banks we're working with, our intent for it is to be a shockingly effective customer-acquisition channel for them where they end up with many, many more customers."

Twitter’s future is newsletters and podcasts, not tweets

With Revue and a slew of other new products, Twitter is trying hard to move past texting.

We started with 140 characters. What now?

Image: Liv Iko/Protocol

Twitter was once a home for 140-character missives about your lunch. Now, it's something like the real-time nerve center of the internet. But as for what Twitter wants to be going forward? It's slightly more complicated.

In just the last few months, Twitter has rolled out Fleets, a Stories-like feature; started testing an audio-only experience called Spaces; and acquired the podcast app Breaker and the video chat app Squad. And on Tuesday, Twitter announced it was acquiring Revue, a newsletter platform. The whole 140-characters thing (which is now 280 characters, by the way) is certainly not Twitter's organizing principle anymore. So what is?

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David Pierce

David Pierce ( @pierce) is Protocol's editor at large. Prior to joining Protocol, he was a columnist at The Wall Street Journal, a senior writer with Wired, and deputy editor at The Verge. He owns all the phones.

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