CHRISTIAN DICARLO: Good morning. Thanks, everyone, for coming out this morning. Great to see you all. Day three of Sessions—we’ve saved the best for last. Okay. Welcome to the platform keynote. Over the past two days, you’ve heard a lot of what Stripe is building across Payments, Revenue, Connect, Money Management. Our session this morning is going to focus specifically on what we’re building for SaaS platforms and a lot of the investments we’re bringing to help you all grow and scale your business.

My name is Christian DiCarlo. I’ve been at Stripe for almost 10 years. And during that time, so much has evolved in the SaaS platform world. And it got us thinking, with Sessions this year, how can we possibly pull everything we want to cover into a platform keynote? It just isn’t possible. So what did we do? Well, we decided, let’s dedicate an entire day and an entire content track just for SaaS platforms. And so that’s what we’ve done. 

So here’s the plan for today. You’re all in the right spot this morning. The platform keynote is going to be amazing. You’re going to hear from our product leaders, share our roadmap. You’re also going to hear from Jamie Fox, payments leader at Tekion, a fast-growing vertical SaaS platform in the auto service and repair space. Following the keynote, we’ve got a ton of great content. We’ve got breakouts on risk, embedded finance, a vertical SaaS platform benchmarking, a lot of great content designed and tailored just for you all. 

Now, it goes without saying, but I’m going to say it anyway. One of the best things about Sessions is having the opportunity to network and learn from your peers. And there’s an incredible wealth of knowledge in just this room alone. And so as you’re going to these breakouts this afternoon, I really encourage you—meet the person next to you. Talk to the folks in the hallway. I guarantee that there are several folks just in this room alone that are thinking about the same business opportunities and the same challenges that you’re thinking about for your SaaS platform. And they want to meet you. This is an incredible opportunity to learn from one another. 

The platforms on this slide and 15,000 others across Stripe are powering payments for over 10 million businesses around the world. We’re partnering with global ecommerce leaders like Shopify, Squarespace, and Wix to industry-leading vertical SaaS platforms like Clio, Tekion, and SimplePractice to help them build profitable, durable software and financial services businesses. 

To put it simply, SaaS platforms are at the core of Stripe’s DNA. So, let’s face it. A decade ago, payments was often a bolt-on inside of software solutions. And that’s changed dramatically. Payments are deeply embedded and integrated, and they’re now a core strategic revenue driver for most SaaS platforms. We have 84 platforms on Stripe who individually processed over a billion in transaction volume in the last 12 months. That is huge! Yes, thank you! I mean, congrats to all of you! 

And we’ve learned so much from working from these platforms that it got us thinking. How can we best package up this knowledge and share it? How do we share best practices? How do we help the next wave of innovative platforms follow in the footsteps of these? And that’s what we’re excited to share with you all today. So we are launching a new partner program dedicated for SaaS platforms to help accelerate your growth and share best practices to help you scale successful, profitable, and financial-services businesses. All right. 

So, if you have your phones, pull it out. Scan the QR code here, and you can get all the details. But I’ll give you a quick summary. One of the things we realized early on is that it’s not just the technology that makes a successful SaaS platform. It’s a lot more than that. It’s the expertise. It’s the go-to-market. It’s the support. It’s the migration. It’s all of the work, all the marketing that goes into doing this. And so we built a program to do exactly that. 

So for platforms who qualify for our new partner program, you’ll have access to go-to-market advisory workshops, migration services, enhanced support, and up to $50,000 in joint co-marketing funds funded by Stripe. As we work with platforms—and there are a ton across Stripe—we deeply value your feedback, your input, because we want to learn from you all on what business challenges and opportunities you’re seeing. That keeps us going. That’s what gets our product team super excited. 

But there are a common set of questions we hear across the industry. For example, how do we improve our payments attach rate? How do we improve monetization? How do we improve the support experience for our customers? Or once I’ve got payments going, what’s the next product that I should be thinking about? Well, to help you answer these questions, let me introduce to the stage Aakash and Jason from our product team. They’re going to walk you through what Stripe’s building to tackle these problems. 

AAKASH SAHNEY: All right. Thank you, Christian. I’m Aakash, and this is Jason. Today, we’re going to share what we’ve been building to supercharge platforms. Our product roadmap enables you to offer superior user experiences to drive customer satisfaction, achieve efficient operations to reduce your TCO, and monetize and expand for profitability. Or if you’re allergic to buzzwords like me, the way we think about it is super simple. We want you to have happier users, deal with fewer problems, and earn more money. 

JASON GUPTA: Okay. So let’s jump in to how we’re helping you make your users happier. And perhaps fittingly, we’ll start with onboarding. I think we can safely say that nobody wants to spend their time onboarding. And if it takes multiple days or a bunch of back and forth with document collection or verification, you’re really getting things off on the wrong foot. Now, you can build your onboarding experience and all your other user experiences yourself with our Stripe APIs. 

But what we’re seeing is that even the largest, most sophisticated platforms are using Stripe prebuilt workflows. In fact, 950 of the top 1,000 platforms on Stripe have used at least one prebuilt Stripe embedded or hosted experience. And that’s not just because it’s easier to integrate; it’s also about giving your users the best experience possible. 

Let’s think about onboarding. What if your users could get on board in seconds? Well, one in six businesses that onboard to your platform have already used Stripe, and that number is growing every single day. So to help these users get set up on payments faster, we recently rolled out networked onboarding. This is a three-click expedited onboarding process for businesses that Stripe has already seen. And 86% of businesses that use networked onboarding are approved to accept payments on the same day. Painless onboarding, happier users, and you get all of this right out of the box with our Stripe hosted and embedded experiences. 

AAKASH SAHNEY: Now, of course, keeping your users happy goes well beyond onboarding. All of the experiences related to payments and financial services in your product need to be really excellent. We launched our first embedded component two years ago to help with that. And we’re now up to 24 unique embedded components. That’s 24 workflows that your team doesn’t have to design and build. You just customize them, brand them, and drop them into your code. 

These are complex workflows that are really hard to build yourself and really important to get right in order to keep your users happy and chugging along. For example, we have a whole suite of components focused on keeping your accounts healthy. These components let users see required information and submit it directly from within your product. 

You can also let your users manage payments from the embedded payments list, payment details, and the new disputes component. You can even embed third-party integrations like QuickBooks or Xero to sync data for accounting and reconciliation purposes. You can use Mailchimp for marketing or Parcelcraft for shipping. And this year, we’re really excited to announce the new Mobile SDK for embedded components, starting with onboarding. Many SMBs run their businesses almost exclusively from their phones, and so now you can give them the same A-plus experience you have on your website from within your app. 

JASON GUPTA: So keeping your users happy means giving them access to powerful features and a cohesive experience. And, of course, you can do this with our embedded components with very little code, like Aakash just mentioned. But you can also do it with no code at all using our Express Dashboard. And this year, we made some big upgrades to the Express Dashboard. We launched a bunch of new features, like refunds, disputes, and top-ups. 

And we’ve also introduced theming and customization to help the Express Dashboard feel more like an extension of your platform’s product. Jane, a platform for behavioral and physical health practitioners, has turned on a bunch of these features. And it’s helped their users resolve disputes much faster. Not to mention, it’s also helped reduce burden on the Jane team. 

AAKASH SAHNEY: All right. So we talked about making your users happy or keeping your users happy. Now, let’s talk about what we’ve built for you, the platform, and the unique challenges you face as a platform. The top two problems we hear about from platforms are related to risk management and supporting their users really, really well. 

Let’s start with risk management. Most platforms now choose to have Stripe manage risk for them so that they can focus on their core products. But you can still choose to own risk yourself if you like. No matter what you choose, we have new tools that make things much, much easier for you. We’ve elevated the most important account health information right in the dashboard, like how many accounts will be restricted soon and what upcoming requirements they are missing. 

And if you click into this, the new connected account list has improved filters and detailed statuses. So, for example, you can filter for accounts that are missing website details, or high risk accounts, or accounts that onboarded in the last month. Yeah, it’s pretty cool. Finally, when you need to remediate an individual account, it’s easier than ever to fix an issue. So from the new account details page, you can see actions required, due dates, consequences and even resolve the issue directly from the dashboard. 

JASON GUPTA: So these tools are awesome when it comes to remediating individual risk and compliance issues. But when it comes to keeping your risk in check at scale, we’re introducing Radar for Platforms. We’re giving you access to the same technology that Stripe uses to manage our own financial risks and to stop fraudsters. With Radar for Platforms, you get access to 65 different parameters to assess risk and to take action. 

So, for example, you could write a rule that pauses payouts if any of your accounts have really high dispute rates. And if that same account has high payment volume or really long tenure on your platform, you could choose to trigger an alert instead. This way, you don’t cut off an important user before investigating. 

But the coolest thing is that you can actually write rules based on Stripe’s own risk models. So this accounts for all the information across the Stripe network, not just the millions of businesses on Stripe but the countless ones that we’ve blocked for fraud. So, for example, you might see that an account is marked as having elevated risk because we saw the same bank account used for fraud on another platform. That insight is now in your hands. 

AAKASH SAHNEY: Now, managing risk is a top pain point that we hear about from platforms, but support and supporting their users really, really well is a close second. Last year, we gave platforms visibility into support cases that their users opened with Stripe. And this year, we’re providing even more visibility and a dashboard with insights. So you can now take a much more proactive approach and monitor support volume, resolution time, satisfaction with the support experience, and you can even see which accounts have high support volumes. Platforms in our preview so far have really loved this eagle-eye view, so they can spot trends and help their users. 

Okay. So those were some of the new tools that we’re introducing for fewer problems for platforms. Now, let’s get to the part everyone’s all been waiting for. Let’s talk about how we can help you make more money. You heard about Stripe’s upgraded dashboard for platforms. So let’s jump into a demo. 

JASON GUPTA: So here we are in the upgraded dashboard experience for platforms. It’s rolling out over the course of this week or—excuse me—over the course of this year. And we’re looking at the dashboard for Pose, a fictional platform for yoga studios. So right off the bat, we can see that we have access to our financial performance information, like payment volume, revenue, margin, and take rate. And we can even slice this information by country, payment method, or product. 

Let’s take a closer look. So gross payment volume is all of the payments process across all my accounts on my platform. Revenue is the fees that I collect from all of my different accounts. Together, these give me a good insight into top-line growth of my business. 

Now, let’s take a look at margin. This is a really important number. This is all of the money that I’m making as a platform. So this is my final take-home amount. And right now you can see that we’re splitting by product. But we can also go ahead and look at it by connected account country. Or we could do the same by payment method. So it looks like I’m actually making pretty good margin on Affirm and Klarna, and I can tell from this orange line that instant payouts is really taking off with my users. 

Finally, let’s take a look at take rate. This shows the margin that we’re making expressed in basis points. Now here, I can see that I’m actually losing a bit of money on ACH debit. This is a great insight for me to take back to my team. And if it turns out that I want to go ahead and update my pricing scheme, it’s actually super easy to do that. I can do it right here in the dashboard with no code at all. 

So let’s go ahead and head over to our pricing tools. And you can see that I have a payment scheme right here—a pricing scheme. Let me go ahead and take a look and click edit. I can scroll down. And here, we have the price that we’re charging for ACH direct debit. So let me go ahead and just bump this up to 0.8%. We’ll hit save and confirm, and that’s it. We just updated our pricing with no code at all on the dashboard. 

So that’s all the financial performance information that we have access to. But with this new dashboard, you can also take a look at the overall growth of your accounts. So here, we can see new accounts that are being added to our platform. And most importantly, we can keep tabs on top accounts. For instance, Serenity Flow Yoga is the biggest contributor to my revenue over the last six months. But it looks like they’re actually not one of my top accounts yet. So this is a new user that’s clearly doing super well. 

On the flip side, BB Wellness Group actually has a pretty big drop in revenue. So this might be a user that’s churning from my platform and a great candidate for me to reach out to. Okay. With the upgraded dashboard, you can now really understand your business to a T and find opportunities to make more money. 

AAKASH SAHNEY: So aside from payments, we also are helping increase your margin on subscription fees. We know that many of you collect monthly subscriptions via a card. But your customers already hold a potentially really large balance on Stripe. So now your customers can pay their SaaS fees to you directly from their Stripe balance. So rather than paying 2.9% for a card transaction, you’re now able to charge their Stripe balance for a 1% fee. You end up with lower payment fees, no more risk of rejected cards, and transactions that settle instantly. You can basically save a boatload of money for almost no work. 

Kajabi, which is a leading creator commerce platform, has used this feature in preview. And they’re projecting a 66% reduction in their subscription transaction costs. It’s rare that we get to talk in whole percentage points for cost savings, so that’s pretty exciting. All right, we’ve talked about payments and subscriptions. 

Now, let’s talk a bit about how platforms can make more money from going multiproduct, from monetizing in-person payments, financing, and payouts. Platforms that do this, that go multiproduct, certainly earn a new revenue stream from adding those additional products and offering it to their users. But they also have 56% faster payments-volume growth and 11% lower churn rates. So more products leads to more revenue, faster growth, and lower churn. Let’s look at a few examples. 

JASON GUPTA: So we surveyed businesses on their biggest inhibitor for growth. And the number one answer was access to capital. Stripe Capital is our all-in-one financing solution that you can embed directly in your product. And we’ve got three big ships for you that really will help you multiply adoption and the revenue share that you earn on your platform. 

First, with our embedded components, you can now embed the entire end-to-end experience all the way from financing offer to payment progress directly into your application. Next, you can upload additional data to inform our underwriting models. So let’s say you have users that take a lot of checks or maybe not all of their payment volume is on Stripe. You can still take in that data. And we’ll use it to expand eligibility of Stripe Capital. Finally, your users can now get offers in the UK, with France, Germany, and Australia coming soon. 

Now, you probably heard this yesterday, but it bears repeating. We’ve been working with Jobber to help them expand their capital program. And they’ve more than doubled the percent of accounts that are eligible for financing. 

AAKASH SAHNEY: Next up, let’s talk about Stripe Terminal. Seventy-eight percent of payments in the US are still made in person. And over the past year, we’ve expanded our device offering pretty significantly to support more and more use cases. So if you serve outdoor car washes that need a durable, weather-resistant device or restaurants that need tableside receipt printing, our new partnership with Verifone lets you get exactly the right device for the use case. Or alternatively, if you serve home-service professionals who always have a phone on them but can’t really lug a reader around, you can integrate Tap to Pay into your mobile app. 

JASON GUPTA: Last but not least, instant payouts—57% of small and medium businesses say that they’ll pay fees for instant payouts. This is the lowest hanging fruit opportunity for your platform. You can turn it on in an afternoon. Your users can get access to funds in minutes. And the best part: you can monetize this instant access, setting a price so that your platform gets a cut. More than 2 million users have used instant payouts through a platform last year. And now, even more are eligible. We’ve added 20 additional European countries, and we’ve got 12 more new countries coming later this quarter. 

AAKASH SAHNEY: All right. That’s a wrap on the most important ways that Stripe is building for platforms. You’ve heard about how we can help you have happier users, deal with fewer problems, and hopefully earn more money. And we didn’t even have time to cover a whole lot more stuff that we’re really excited about that has either shipped or is coming soon. 

So please stay tuned to the rest of the day. We’ve got tons of great platform content. And you can also learn more at our booths in the expo hall. All right. Next up, I’m really excited to introduce Tekion, which is a platform that’s on the bleeding edge of embedded payments and finance. So please welcome Lauren Garcia from Stripe and Jamie Fox, the GM for payments at Tekion. 

LAUREN GARCIA: Jamie, good morning. 

JAMIE FOX: Hi. 

LAUREN GARCIA: How are you? 

JAMIE FOX: Thank you for having me. 

LAUREN GARCIA: Thank you for being here. Thanks to all of you for being here as well. We just heard from Aakash and Jason about all of the ways that Stripe is building for platforms like Tekion to help you ensure happier dealers, fewer operational challenges, and ultimately to strive for more profitability. I’m excited to spend the next 10 minutes roughly diving a little bit deeper into all of the ways that you’re partnering with Stripe to drive success in those areas. 

But before we get into the details, for those in the audience that might not be familiar with Tekion, can you share a little bit more about the value that you’re seeking to deliver for your dealers and ultimately just how you are solving for a better dealer experience overall. 

JAMIE FOX: Yeah. So Tekion is an automotive software platform that plays in the OEM dealership space. It’s very fragmented. So when you look at a dealership, they use about 30 to 40 different software platforms on a monthly basis to operate their business. Tekion’s goal is to unify that. So typically, when we take a dealer live on Tekion, they go from about 40 to around 10. 

LAUREN GARCIA: Wow, that’s a pretty significant reduction. 

JAMIE FOX: Yeah. 

LAUREN GARCIA: One of the things that we talk about, right, is a sign that you are delivering exceptional value back to your dealers is the adoption of just your core SaaS. And I think reducing that complexity sounds like a pretty key component to that. Another factor that we look at is the adoption of your payments offering. I’m often asked, you know, “Lauren, what is a good benchmark for payments adoption?” And that can vary platform to platform. But Tekion has some of the highest payment-attach rates that I have seen. So I’d love for you to unpack—what are your secrets of success? And also, how do you think about that relationship between the value of your core software and the value of your payments offering? 

JAMIE FOX: Yeah. I think the big thing is we give dealers choice. But we force certain elements of the platform to run through our payments engine. And what I mean by that is, on online payment services, we require them to use Tekion Pay. They get the experience of the online remote payment functionality. They get automated reconciliation. And they start to see it. But we give them choice on card-present. But more often than not, they come back and realize that the value is there to then add card-present on top.

LAUREN GARCIA: All right. That’s interesting. 

JAMIE FOX: It’s a forever free trial. Right? 

LAUREN GARCIA: Forever free trial. 

JAMIE FOX: Yeah. 

LAUREN GARCIA: Yeah. And I think what I heard you say there is that you’re actually requiring them to onboard their card-not-present processing to Tekion Pay when they’re onboarding to Tekion. But in the dealer world, a big chunk of their business is actually in card-present solutions. 

JAMIE FOX: Correct. Yeah. 

LAUREN GARCIA: And I think north of 65% of your business today is in card-present payments. So how do you think about making sure that that experience across both card-not-present and card-present is actually really seamless for your dealers? 

JAMIE FOX: Yeah. I think the thing about automotive is that taking the payment itself is not actually the value driver. It’s the back office. 

LAUREN GARCIA: Yeah. 

JAMIE FOX: Everyone does business in the front, and then the back office is where they actually operate the business. And what we do is we align card-not-present and card-present transactions and the entire flow through our platform to be the same all the way through to the back office and ultimately to their payout account. 

LAUREN GARCIA: That’s really interesting—so really thinking about the needs of that back office, so first getting them onto your card-not-present solutioning and then really selling through the value of kind of the pain that you can take away from some of those back-end office operations. 

JAMIE FOX: Yeah. And once they’re onboarded on card-not-present, they are just adding terminals. They’re already onboarded. They’ve already done everything. It is as simple as just enrolling a terminal.

LAUREN GARCIA: Okay. Let’s double-click on the terminal piece for just a second. You all have over 7,000 point-of-sale devices in market today. So I’d like to better understand, like, how are you operating your business at scale? Because that many devices could mean a lot of complexity. And how are you leveraging Stripe to maybe help you seek new operational efficiencies? 

JAMIE FOX: So we’re a very proud business; so we white-label everything. Our dealers do not work in Stripe, but we leverage a lot of Stripe’s under-the-hood workflows. For example, terminal enrollment, three words, two dashes—they do it directly from our UI. The terminal reboots, and they’re ready to go. So we leverage as much as we can from Stripe because there’s no reason to reinvent it. 

LAUREN GARCIA: All right, I love that. So making sure it’s got the Tekion label on the front, making sure you’re thinking about those core back-end office needs but leveraging the kind of the power that exists from Stripe to help you operate it.

JAMIE FOX: Yeah. 

LAUREN GARCIA: Okay. We got a preview from Jason just a second ago about the new Connect Insights dashboard and how it’s ultimately hopefully becoming even more of a command center for how you operate your payments business. Talk to me a little bit about what you saw in terms of some of the profitability insights, also maybe new distribution insights. And how do you think about the ways that that dashboard can complement how you’re evaluating the overall health of your payments business? 

JAMIE FOX: Yeah. I think it’s really interesting. We have so much data inside of our ERP for automotive, but the Connect Insights dashboard actually gives us leading indicators for things. Right. Payments become the leading indicator for business performance. So instead of reactionary, we can actually see their trend as money flows through their payments platform. 

LAUREN GARCIA: Okay. 

JAMIE FOX: Of course, take rate, revenue—they’re all very important to us, and we live and die by it. But it really helps us prevent churn management as well. 

LAUREN GARCIA: Interesting. And yeah. Being able to drill down to kind of like that dealer-level insight, is that something that you see as interesting? 

JAMIE FOX: Yeah. I mean, every single one of our dealers has a unique Connect account. So we can see at the dealer level and then pair it with the data we have in our platform as well. 

LAUREN GARCIA: Okay. Fantastic. I want to talk about everybody’s two favorite words, profitability and monetization. Right. Like at the end of the day, yes, that is what we are here for. We’re running businesses. Tekion has, you know, extreme value in your core payment solution. But now that you all have really strong footing there, you’re being pretty aggressive about thinking about new ways to provide money movement services back to your dealers. I’d like to just talk a little bit about your strategy. I have a firsthand look at all of the betas that we are considering and participating in right now, and it’s quite extensive. 

JAMIE FOX: Yes. 

LAUREN GARCIA: So how do you think about, you know—when is it time to diversify your core payments offering? And how do you balance that between user needs and actually driving the business on revenue? 

JAMIE FOX: Yeah. Don’t get me wrong. Profitability and monetization is very important to me and to our business. But I think it starts with having an incredible product as a foundational offering. Like we have not yet gone into treasury and issuing. 

LAUREN GARCIA: Not yet. 

JAMIE FOX: Not yet. Yes. Not yet. But I think it’s really important to create an experience that is an “easy in” because it creates stickiness. So when we look at features to roll out, we also weigh it against what it does to the overall experience of the payments platform or the overall platform of Automotive Retail Cloud. And that’s how we decision off that. 

LAUREN GARCIA: I think that’s so crucial. It’s, like, get the foundation right. Is your payments experience one that your dealers are truly seeking and that they’re asking for? And once you’ve got that, then thinking about, okay, what’s the next need that you need to solve for. 

JAMIE FOX: Right. 

LAUREN GARCIA: Okay. All right. We have a little under three minutes left, Jamie. I want to do one last segment. We’re going to call it overrated or underrated. I’m going to give you a list of just a couple of hot topics. 

JAMIE FOX: Okay. 

LAUREN GARCIA: You give me your take—overrated, underrated. And why. 

JAMIE FOX: Okay. 

LAUREN GARCIA: Sounds good? 

JAMIE FOX: Yeah. 

LAUREN GARCIA: Okay. First up— 

JAMIE FOX: This is going to be a good one, I think. 

LAUREN GARCIA: Physical checks. 

JAMIE FOX: Oh, good one. Super underrated. And like don’t get me wrong. I want everyone to use ACH and wire transfers. But that’s just not the reality in our business. When we look at data in our platform, you know, we process roughly $500 million a month in card volume. But our ERP records $2 billion of check volume. And we’re not capitalizing on that in any way, shape, or form, even just from an experience perspective. So we have to design a solution that works with paper check. 

LAUREN GARCIA: Yeah. I don’t think you guys are unique there. I’m hearing this more and more often from various platforms about just the tonnage of volume that is sitting in checks today. 

JAMIE FOX: Right. 

LAUREN GARCIA: Okay. Maybe moving from what we might consider the prehistoric ages of checks into the new age of stablecoin and crypto— 

JAMIE FOX: Yeah. I think it’s underrated. I think a lot of my answers would probably be underrated. But I do think that, you know, the strategy for us is give dealers choice or give customers of dealerships choice on how they want to pay. And so not offering something because it’s the new-age thing, I think, is the wrong avenue. And I think, given what Stripe’s doing with making it easy to onboard things like that and offer those as payment methods, it’s a no-brainer. 

LAUREN GARCIA: What’s kind of like the natural foray into stablecoin in the automotive industry? 

JAMIE FOX: Vehicle purchases. 

LAUREN GARCIA: Yeah. 

JAMIE FOX: There’s a ton of available stablecoin capital out there. And the process to then convert it and buy it with fiat currency is a little bit friction held. 

LAUREN GARCIA: Okay. 

JAMIE FOX: Right. So we want to just make it easy for them to come in and use it immediately.

LAUREN GARCIA: Amazing. All right. One last one— 

JAMIE FOX: Okay. 

LAUREN GARCIA: —Slightly more tactical— 

JAMIE FOX: Okay. 

LAUREN GARCIA: —Network pass-through costs, sometimes known here at Stripe as IC++. 

JAMIE FOX: Yeah. Yeah. We at Tekion think it’s underrated. 

LAUREN GARCIA: Okay. 

JAMIE FOX: And the reason is because, in our space, we’re competing against legacy banks, big merchant services companies. And we just simply won’t win the amount of deals that we do without having that flexibility to provide Interchange Plus pricing. 

LAUREN GARCIA: All right. Okay. You heard it here first: physical checks— 

JAMIE FOX: Yeah. 

LAUREN GARCIA: —Stablecoin and network pass-through costs, all underrated. You can have a deeper conversation with Jamie— 

JAMIE FOX: Yes. Yeah. 

LAUREN GARCIA: —After our talk today. Jamie, thank you so much. 

JAMIE FOX: You’re welcome. 

LAUREN GARCIA: Thank you for sharing all of your valuable insights. 

JAMIE FOX: Thank you for having me. 

LAUREN GARCIA: Thank you also to all of you for joining us for our first ever SaaS platforms product keynote. Yeah. We have kicked off the day incredibly strong with new product innovations that hopefully help each of you understand how Stripe is continuing to build for the future growth of our SaaS platforms business. 

We also heard about the remarkable success that Tekion has had by delivering core value back to their dealers and ultimately ensuring a more seamlessly integrated payments experience. We are so excited to continue building with each of you. Please take a very quick break and join us next back in this same room for scaling vertical SaaS from 1 to 1 billion. I think a lot of people will learn some great insights. Thank you, guys, again.