Jan 10, 2021 - Politics & Policy

Payment processor Stripe bans Trump campaign

Trump campaign sign floats in river near the Capitol building.

Photo by Al Drago/Getty Image

Following Wednesday's violent siege of the Capitol, Stripe will no longer process payments for President Trump's campaign, which continued to fundraise. The news was first reported by The Wall Street Journal, and confirmed by Axios with a source close to Stripe.

Why it matters: This is the latest escalation in Big Tech's revulsed reaction to last Wednesday's insurrection in D.C., and the first to directly target money flows.

Driving the news: Several businesses said they were going to pause donations to politicians in the wake of Wednesday's attack. Marriott will pause donations from its PAC to "who voted against certification of the election,” a company spokesperson confirmed on Sunday. Citigroup meanwhile will pause all donations from its PAC for the rest of the quarter, according to a company memo obtained by Axios.

Go deeper: Big Tech's free speech showdown.

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