How Stripe and Shopify print
A take-rate on payment volume. Billing, Treasury, and Issuing sit on the same pipe.
Subscription on the store. Then a take-rate on GMV. Plus merchant solutions.
The mix
Hover a slice
Shopify- Payments take-rate82%—
- Billing / Treasury / Issuing14%—
- Other4%—
- Subscription—28%
- Merchant solutions—72%
- StripeShopify
Stripe
Every charge is a small rent. The product is the API the merchant will not rip out.
Pays: Merchants. Platforms. Marketplaces.
Builds: Payments engineering, risk, and the people who sell the API.
Shopify
The storefront is the seat. Payments and plus are the attach.
Pays: Merchants.
Builds: Platform, payments, and the people who keep the theme live.