Keith Rabois has been around payments a long time.. and given his PayPal background, his view shouldn’t be ignored. $1B TPV sounds like a big number.. but equates to only $3M in revenue (30bps take rate). PayPal has a 330-390bps take rate driven by its 3 party model (both merchant and consumer have accounts). Yes, that’s right… Paypal makes 10x more revenue for every dollar processed than Square. So for Square to Surpass PayPal, they need $1T in TPV Continue reading →