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A, Is Papa a Master Merchant, or a Credit Card Master Merchant?
Papal is a credit card payment system that allows users to underwrite small dollar transactions. The company was founded in 1998, and has raised more than $1 billion so far. Founder Peter Sutter says papal's early days were spent figuring out what it would be like when they grew up. In the second half of its first year, Papal built a fremium model for their users which allowed them to make money on the float but didn't have profitability yet.