Australia is way
ahead of the
U.S. in
banking, but **w
risks falling behind
The
U.S. is objectively
behind countries like
Australia in digital banking "by whatever metric you choose," according to Stripe cofounder John Collison, but that head start may **t last forever.*
As president of a global payment company, in Sydney recently to launch the marketplace tool Stripe Connect, Collison was in a position to help me understand the digital divide between American and Australian banking.
Having lived in both countries, the difference feels striking. While I'd been paying landlords and sending friends dinner money online in
Australia for years, suddenly in the
U.S. in 2014, I found myself searching each month for a stamp and an envelope to mail off my housemates' rent cheques.
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