Irish-run credit card company says it will ban donations to Donald Trump's campaign
News

Irish-run credit card company says it will ban donations to Donald Trump's campaign

ONLINE credit card processor Stripe, created by the Limerick-born Collison brothers, has confirmed it will no longer process donations to Donald Trump's campaign.

As the largest facilitator of such transactions, the ban is expected to deal a significant blow to Trump's fundraising abilities - which have gifted him $250 million since the start of the 2020 presidential race.

Stripe is the latest in a string of US companies distancing themselves from the president in response to the violence in Capitol Hill last week: Marriot, Blue Cross, Blue Shield and Citi Bank have also banned donations to Republicans directly affiliated with the riots.

The Silicon Valley based Stripe is estimated to be worth $35 billion, making brothers John and Patrick Collison - both in their early thirties – the world's youngest billionaires. Unable to get funding for Stripe and other ventures in Ireland, they relocated to Silicon Valley in 2009.

The brothers are deeply committed to responsible corporate citizenship and are vocal opponents of China's persecution of its Uighur population - a Muslim minority located in the Xinxiang region - under president Xi Xinping.

Advertisement

Despite its expansive customer base, Stripe's terms of service stipulate that it will prohibit service to any business that "engages in, encourages, promotes, or celebrates unlawful violence or physical harm to persons or property".

In addition to a growing number of financial institutions, mainstream social media sites, such as Facebook, YouTube and Twitter have also barred the president from posting content.

This has led to criticism from the German chancellor, Angela Merkel, among others that the platforms are encroaching upon free speech.

Twitter justified its decision by stating that inaction could "risk further incitement to violence."