Patrick and John Collision are brothers from Ireland with a lofty goal: transform online transactions.
Patrick, 24, and John, 22, are building technology that allows small businesses to process credit card payments without the hassle of setting up a merchant account. They're young entrepreneurs taking on giants like PayPal, Google, and Amazon. Launched in 2011, the company is now processing millions of payments every day.
Both brothers dropped out of college to focus on the mission -- one that has been rapidly catching on now that that the technology has become easier to integrate. The iPad, for instance, allows merchants to control the checkout experience without the need to install a third party's infrastructure.
When you're young and running a small company, the traditional rules of business don't always apply. Stripe has 50 employees and unique structure: Patrick hasn't hired product managers and steers away from running the company in a hierarchal structure. Most of the company's emails are public internally, which means transparency for employees.
With no product managers, Stripe lets engineers figure out new concepts on their own and implement them.
"We're building for people like us...our job is to get out of the way," Collision says.
CNN is highlighting 10 young companies you'll be hearing a lot more about over the next 12 months.