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Stripe

Internet payment company Stripe has quietly begun handling a large portion of Amazon's transactions, a deal that can help Stripe significantly increase its transaction volume, Bloomberg reports. The number of transactions Stripe is handling is unknown, as the companies aren't commenting.

Why it matters: Stripe, the company founded by Irish brothers Patrick and John Collison, handles tens of billions of dollars in internet transactions every year. It makes money by charging a small fee on each transaction. The low margins in the online payment business means Stripe has to process high volumes of transactions to effectively compete in the market. The deal with Amazon could help Stripe live up to its $9.2 billion valuation.

Go deeper

Updated 7 mins ago - Politics & Policy

In photos: The Biden and Harris inauguration

Kamala Harris is sworn in as vice president. Photo: Alex Wong/Getty Images

Joe Biden and Kamala Harris are being inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power at the Capitol only two weeks after an unprecedented siege on the building by Trump supporters. Trump did not attend the ceremony.

Joe Biden sworn in as 46th president of the United States

Joe Biden was sworn in just before noon on Wednesday as the 46th president of the United States, in an inauguration ceremony unlike any other.

Why it matters: The 78-year-old Democrat assumes the presidency at a fraught moment for the country, which remains polarized and in the grips of a coronavirus crisis that has killed more than 400,000 Americans.

Updated 13 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

Vice President-elect Kamala Harris has taken the oath of office at the Capitol. Watch a livestream here.

What's next: President-elect Joe Biden will take his oath of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

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