snag: they had to go to the bank and file paperwork just to be able to collect the money. >> patrick collisonlly sort of kind of like getting a mortgage. you would have to, like, worth supporting-- >> john collison: and like a mortgage, it would have to be approved. >> patrick collison: right, exactly. and it would take sort of weeks for this approval process to happen. and it just seemed sort of like this crazy mismatch. >> stahl: so they decided to do something about it. they created software that allows businesses to cut through all that bureaucracy and instantly accept payments online from countries across the globe. we visited their startup, stripe, in the mission district, the heart of san francisco's tech scene, where patrick showed me how fast a business could set up a money-collection system using stripe. set me up! pretend i left "60 minutes" to create an online business. >> patrick collison: what do you want to sell? >> stahl: i think i'm going to sell dog food. homemade dog food. in five minutes, after a few clicks and a cut and paste of their code, he said my company would be rea

. >> brothers patrick and john collison quit college because they had an idea for modernizing the financialndustry they thought needed a shaking up. >> in a world where people can send a facebook message or upload an instagram photo have it available like that. i think the fact that that doesn't work for money is something that seems kind of increasingly unacceptable to people. the question for banks can they get their first in providing services or will it be somebody new. >> reporter: they want to be the some body new. john, 25, and patrick, 27, first noticed the problem when they were in high school in a dot of a town in ireland. >> you were coders? >> we both learned to program growing up. we had been building iphone apps and web services. when they wanted to charge people to buy the apps they hit a snag. they had to go to the bank and file paperwork just to be able to collect the money. >> like really sort of, kind of like getting a mortgage. you have to convince them that you were worth supporting. >> look a mortgage it would have to be approved. >> take weeks for this approval proces