--- title: "Meaning & Key Takeaway of: For a new payment product, you always…" description: "\"For a new payment product, you always have to ask, how much better is it than the current solution? So when we started Paypal, for eBay micro merchants..." image: "https://sms4smile.com/quotes/i/89b/peter-thiel-1311_adoption_for-a-new-payment-product-you-always-hav_715539.jpg" --- # For a new payment product, you always have to ask, how… ![“For a new payment product, you always have to ask, how much better is it than the current solution? So when we started Paypal, for eBay micro merchants, it was much better than getting the 7 to 10 days process of cashing a check in the mail. When you look at stores or physical worlds, places, a…” quote by Peter Thiel](https://sms4smile.com/quotes/i/89b/peter-thiel-1311_adoption_for-a-new-payment-product-you-always-hav_715539.jpg) [Download](https://sms4smile.com/quotes/i/89b/peter-thiel-1311_adoption_for-a-new-payment-product-you-always-hav_715539.jpg) [Open image](https://sms4smile.com/quotes/i/89b/peter-thiel-1311_adoption_for-a-new-payment-product-you-always-hav_715539.jpg) > “For a new payment product, you always have to ask, how much better is it than the current solution? So when we started Paypal, for eBay micro merchants, it was much better than getting the 7 to 10 days process of cashing a check in the mail. When you look at stores or physical worlds, places, a lot of these places are already set up to take cash or credit card. Apple Pay may be an incremental improvement, maybe a little bit better. But when you have something that's pretty good and you go to something that's perfect, sometimes it's very hard to drive adoption because the delta is not that big.” [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker notes that new payment solutions must offer significant improvement over existing ones, otherwise adoption is difficult. **In simple terms:** New payment tools need clear benefits to be adopted. Key Takeaway Focus on delivering clear, substantial value. Themes technology business innovation Mood pragmatic strategic Type business inspirational When to use this quote - product design - market analysis - customer outreach Key Concepts economics diffusion of innovations Questions to Reflect On - What constitutes a “big enough” improvement? - How can small gains be marketed effectively? A Different Perspective Incremental upgrades may fail to attract users. ★ ★ ★ ★ ★ No ratings yet [Adoption](https://sms4smile.com/quotes/about/adoption/) [Improvement](https://sms4smile.com/quotes/about/improvement/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [Of the six people who started PayPal, four had built bombs in high school.](https://sms4smile.com/quotes/peter-thiel/of-the-six-people-who-started-paypal-four-had-built-bombs-in-high/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [Apple Pay is forever changing the way we pay for things.](https://sms4smile.com/quotes/tim-cook/apple-pay-is-forever-changing-the-way-we-pay-for-things/) [Tim Cook](https://sms4smile.com/quotes/author/tim-cook/) > [Science and time and necessity have propelled us, the United States, to be the general store of the world, dealers in everything. Most of…](https://sms4smile.com/quotes/lady-bird-johnson/science-and-time-and-necessity-have-propelled-us-the-united-states-to/) [Lady Bird Johnson](https://sms4smile.com/quotes/author/lady-bird-johnson/) > [Our initial idea with Stripe was that for people like us - those building apps and websites - it was incredibly difficult to take…](https://sms4smile.com/quotes/john-collison/our-initial-idea-with-stripe-was-that-for-people-like-us-those/) [John Collison](https://sms4smile.com/quotes/author/john-collison/) > [“I wish I would have known that there was no need to wait. I went to college. I went to law school. I worked…](https://sms4smile.com/quotes/timothy-ferriss/i-wish-i-would-have-known-that-there-was-no-need-to-wait-i-went-to/) [Timothy Ferriss](https://sms4smile.com/quotes/author/timothy-ferriss/) > [In art and science we are now in a delta, at the end of the long flow of progress. In a delta there is…](https://sms4smile.com/quotes/robert-bateman/in-art-and-science-we-are-now-in-a-delta-at-the-end-of-the-long-flow/) [Robert Bateman](https://sms4smile.com/quotes/author/robert-bateman/) > [That Mississippi sound, that Delta sound is in them old records. You can hear it all the way through.](https://sms4smile.com/quotes/muddy-waters/that-mississippi-sound-that-delta-sound-is-in-them-old-records-you/) [Muddy Waters](https://sms4smile.com/quotes/author/muddy-waters/) > [It's not enough to celebrate the ideals that we're built on, liberty and justice and equality for all. Those just can't be words on…](https://sms4smile.com/quotes/barack-obama/it-s-not-enough-to-celebrate-the-ideals-that-we-re-built-on-liberty/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Creating these messes that go from administration to administration and then you swoop in and clean them up - with that heroic Delta force…](https://sms4smile.com/quotes/edwidge-danticat/creating-these-messes-that-go-from-administration-to-administration/) [Edwidge Danticat](https://sms4smile.com/quotes/author/edwidge-danticat/) > [When I was 15, if anything, I thought I was going to be a Delta bluesman, which is so ridiculous.](https://sms4smile.com/quotes/james-bay/when-i-was-15-if-anything-i-thought-i-was-going-to-be-a-delta/) [James Bay](https://sms4smile.com/quotes/author/james-bay/) > [Ill book a ticket on some garbage airline. I dont wanna name an actual airline so lets make one up, lets just call it…](https://sms4smile.com/quotes/john-mulaney/ill-book-a-ticket-on-some-garbage-airline-i-dont-wanna-name-an-actual/) [John Mulaney](https://sms4smile.com/quotes/author/john-mulaney/) > [I'm from the Mississippi delta originally.](https://sms4smile.com/quotes/little-milton/i-m-from-the-mississippi-delta-originally/) [Little Milton](https://sms4smile.com/quotes/author/little-milton/) > [I feel like so much of what happened in the Delta over the decades since slavery was abolished seems much closer in the Delta,…](https://sms4smile.com/quotes/jesmyn-ward/i-feel-like-so-much-of-what-happened-in-the-delta-over-the-decades/) [Jesmyn Ward](https://sms4smile.com/quotes/author/jesmyn-ward/) > [By the time I was in my teens, I was listening to Delta blues and jazz.](https://sms4smile.com/quotes/hozier/by-the-time-i-was-in-my-teens-i-was-listening-to-delta-blues-and-jazz/) [Hozier](https://sms4smile.com/quotes/author/hozier/) > [Since I was a kid, I've had an absolute obsession with particular kinds of American music. Mississippi Delta blues of the Thirties, Chicago blues…](https://sms4smile.com/quotes/robert-plant/since-i-was-a-kid-i-ve-had-an-absolute-obsession-with-particular/) [Robert Plant](https://sms4smile.com/quotes/author/robert-plant/) ## More by Peter Thiel > [People don't want to believe that technology is broken. Pharmaceuticals, robotics, artificial intelligence, nanotechnology - all these areas where the progress has been a…](https://sms4smile.com/quotes/peter-thiel/people-don-t-want-to-believe-that-technology-is-broken/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily…](https://sms4smile.com/quotes/peter-thiel/if-you-think-about-basic-science-or-coming-up-with-new-theories-of/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [I think we have a bubble in the US in government bonds, because of the quantitative easing and the negative real interest rates, and…](https://sms4smile.com/quotes/peter-thiel/i-think-we-have-a-bubble-in-the-us-in-government-bonds-because-of-the/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“Time and decision-making themselves follow a power law, and some moments matter far more than others”](https://sms4smile.com/quotes/peter-thiel/time-and-decision-making-themselves-follow-a-power-law-and-some/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“Today, we exaggerate the differences between left-liberal egalitarianism and libertarian individualism because almost everyone shares their common indefinite attitude. In philosophy, politics, and business,…](https://sms4smile.com/quotes/peter-thiel/today-we-exaggerate-the-differences-between-left-liberal/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [When you already have $150 billion a year in revenues from the iPhone, it's very hard to come up with any new vertical that…](https://sms4smile.com/quotes/peter-thiel/when-you-already-have-150-billion-a-year-in-revenues-from-the-iphone/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“CREATIVE MONOPOLY means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and…](https://sms4smile.com/quotes/peter-thiel/creative-monopoly-means-new-products-that-benefit-everybody-and/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“we have given up our sense of wonder at secrets left to be discovered.”](https://sms4smile.com/quotes/peter-thiel/we-have-given-up-our-sense-of-wonder-at-secrets-left-to-be-discovered/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“Today our society is permeated by the twin ideas that death is both inevitable and random.”](https://sms4smile.com/quotes/peter-thiel/today-our-society-is-permeated-by-the-twin-ideas-that-death-is-both/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“if your company can be summed up by its opposition to already existing firms, it can’t be completely new and it’s probably not going…](https://sms4smile.com/quotes/peter-thiel/if-your-company-can-be-summed-up-by-its-opposition-to-already/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“Is a lukewarm attitude to one’s work a sign of mental health? Is a merely professional attitude the only sane approach?”](https://sms4smile.com/quotes/peter-thiel/is-a-lukewarm-attitude-to-one-s-work-a-sign-of-mental-health-is-a/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [“If you’ve invented something new but you haven’t invented an effective way to sell it, you have a bad business—no matter how good the…](https://sms4smile.com/quotes/peter-thiel/if-you-ve-invented-something-new-but-you-haven-t-invented-an/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete.…](https://sms4smile.com/quotes/peter-thiel/the-business-model-piece-is-we-re-always-talking-about-competing-more/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [If you invest in Microsoft or Oracle, or a number of other companies for that matter, you're fundamentally making a bet that there's going…](https://sms4smile.com/quotes/peter-thiel/if-you-invest-in-microsoft-or-oracle-or-a-number-of-other-companies/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) > [Our economy is broken. I'm not a politician, but neither is Donald Trump. He is a builder, and it's time to rebuild America.](https://sms4smile.com/quotes/peter-thiel/our-economy-is-broken-i-m-not-a-politician-but-neither-is-donald/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) [Explore all 257 Peter Thiel quotes ](https://sms4smile.com/quotes/author/peter-thiel/) ## More Adoption quotes > [The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.](https://sms4smile.com/quotes/benjamin-graham/the-purpose-of-this-book-is-to-supply-in-the-form-suitable-for-laymen/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [ Next came the Patent laws. These began in England in 1624; and, in this country, with the adoption of our constitution. Before then \[these?\],… ](https://sms4smile.com/quotes/abraham-lincoln/next-came-the-patent-laws-these-began-in-england-in-1624-and-in-this/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [I think adoption becomes complicated whenever the biological parents are alive.](https://sms4smile.com/quotes/james-haven/i-think-adoption-becomes-complicated-whenever-the-biological-parents/) [James Haven](https://sms4smile.com/quotes/author/james-haven/) > [Somehow destiny comes into play. These children end up with you and you end up with them. It's something quite magical.](https://sms4smile.com/quotes/nicole-kidman/somehow-destiny-comes-into-play-these-children-end-up-with-you-and/) [Nicole Kidman](https://sms4smile.com/quotes/author/nicole-kidman/) > [I have a lot of respect for my birth mother I know she must have had a lot of love for me to want…](https://sms4smile.com/quotes/faith-hill/i-have-a-lot-of-respect-for-my-birth-mother-i-know-she-must-have-had/) [Faith Hill](https://sms4smile.com/quotes/author/faith-hill/) > [Despite the reams of paperwork, obstacles worthy of a horse show, and a wait that can rival an elephant's gestation, adoption feels no different…](https://sms4smile.com/quotes/scott-simon/despite-the-reams-of-paperwork-obstacles-worthy-of-a-horse-show-and-a/) [Scott Simon](https://sms4smile.com/quotes/author/scott-simon/) > [“Some adventures should never be repeated.”](https://sms4smile.com/quotes/mike-l-hopper/some-adventures-should-never-be-repeated/) Mike L. Hopper > [Some women just skip having babies or adopt because they don't want to get fat or they haven't put in the time to find…](https://sms4smile.com/quotes/jaime-pressly/some-women-just-skip-having-babies-or-adopt-because-they-don-t-want/) [Jaime Pressly](https://sms4smile.com/quotes/author/jaime-pressly/) > [“I love Russia because Russia gave me you.”](https://sms4smile.com/quotes/john-m-simmons/i-love-russia-because-russia-gave-me-you/) John M. Simmons > [I've never been keen on open adoption. It doesn't seem to solve the main problem with adoption, which is that somebody feels she was…](https://sms4smile.com/quotes/joan-didion/i-ve-never-been-keen-on-open-adoption-it-doesn-t-seem-to-solve-the/) [Joan Didion](https://sms4smile.com/quotes/author/joan-didion/) > [“Yes, I see why we endured infertility and a lengthy adoption process now, but I don’t know all the reasons for all the struggles…](https://sms4smile.com/quotes/ashley-wells/yes-i-see-why-we-endured-infertility-and-a-lengthy-adoption-process/) Ashley Wells > [As we grew to love South Australia, we felt that we were in an expanding society, still feeling the bond to the motherland, but…](https://sms4smile.com/quotes/catherine-helen-spence/as-we-grew-to-love-south-australia-we-felt-that-we-were-in-an/) [Catherine Helen Spence](https://sms4smile.com/quotes/author/catherine-helen-spence/) > [Every great movement must experience three stages: ridicule, discussion, adoption.](https://sms4smile.com/quotes/john-stuart-mill/every-great-movement-must-experience-three-stages-ridicule-discussion/) [John Stuart Mill](https://sms4smile.com/quotes/author/john-stuart-mill/) > [With all the chaos, pain and suffering in the world, the fact that my adoption of a child from who was living in an…](https://sms4smile.com/quotes/madonna-ciccone/with-all-the-chaos-pain-and-suffering-in-the-world-the-fact-that-my/) [Madonna Ciccone](https://sms4smile.com/quotes/author/madonna-ciccone/) > [“The Friends Thou Hast And Their Adoption Tried Grapple Them To Thy Soul With Hooks Of Steel”](https://sms4smile.com/quotes/william-shakespeare/the-friends-thou-hast-and-their-adoption-tried-grapple-them-to-thy-2/) [William Shakespeare](https://sms4smile.com/quotes/author/william-shakespeare/) [Browse all 560 Adoption quotes ](https://sms4smile.com/quotes/about/adoption/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "For a new payment product, you always have to ask, how much better is it than the current solution? 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