A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
August 31, 2021
On the web
Stripe Deepens Partnership With UnionPay
Finextra Research
“Stripe, a technology company that builds economic infrastructure for the internet, has deepened its partnership with China’s UnionPay International, one of the world’s largest payment networks. The integration will enable businesses in more than 30 markets, including Australia, Singapore, Hong Kong SAR, Canada, the United States, the United Kingdom, as well as across the European Union…”
July 30, 2021
On the web
Stripe Must Face Consumer Privacy Claims Over Data on Purchases
Bloomberg Law
“Stripe Inc. must face claims from consumers that the payment processing platform invaded their privacy under California law by collecting data on purchases and sharing it with merchants and customers. The potential consumer class action can proceed with certain privacy claims brought under the state’s constitution, common law, and unfair competition law, according to a Wednesday order from the U.S. District Court for the Northern District of California. The court order rejected additional claims made under the California Invasion of Privacy Act and other privacy laws in Florida and Washington.”
June 21, 2021
On the wires
Aria Systems Partners With Stripe to Offer Enterprise Clients Additional Payment Processing Options
“Aria Systems , the leader in helping enterprises grow subscription and usage-based revenue, today announced a partnership with Stripe , the global technology company that builds economic infrastructure for the internet, to jointly provide large enterprises across multiple industries another option to meet their payment processing needs. Through this partnership, Aria expands its roster of payment partners while the two companies can offer enterprise clients another reliable and secure option for processing payments worldwide.”
June 14, 2021
On the web
WSJ News Exclusive | Investors Clamor for a Bigger Piece of Payments Company Stripe
Wall Street Journal
“Stripe Inc. has yet to go public, but investors are still craving a piece of it. The company, which processes payments for e-commerce businesses, recently offered investors the chance to acquire sizable stakes in the company from existing shareholders, including current and former Stripe employees, according to people familiar with the transaction. Bids from those investors exceeded $4 billion, some of the people said. But only about $1 billion of those bids were filled, one of the people said, suggesting that many current Stripe shareholders believe their stock has a long way to climb. Among the largest buyers were mutual-fund giant Capital Group Cos., venture-capital firm Sequoia Capital, e-commerce company Shopify Inc. and buyout firm Silver Lake, some of the people said.”
June 10, 2021
On the wires
Stripe Newsroom: Stripe Launches Stripe Tax to Simplify Global Tax Compliance for Businesses
“Stripe, the technology company building economic infrastructure for the internet, today announced the launch of Stripe Tax to help businesses automatically calculate and collect sales tax, value-added tax (VAT), and goods and services tax (GST) in over 30 countries*. Stripe Tax makes every aspect of global sales tax handling as frictionless as the rest of Stripe. It automates tax calculation and collection for transactions on Stripe, tells businesses where they need to collect taxes, and creates comprehensive reports to make filing taxes easy.”
April 27, 2021
On the web
Stripe Acquires TaxJar to Add Cloud-based, Automated Sales Tax Tools Into Its Payments Platform
TechCrunch
“Stripe , the privately-held payments company now valued at $95 billion , has made an acquisition to expand the range of tools (and services) that it provides to online businesses. It has acquired TaxJar , a popular provider of a cloud-based suite of tax services, which can be used to automatically calculate, report and file sales taxes. One key point about TaxJar is that it works across a number of geographies and the many different sales tax regimes that each uses — a complex area for a lot of companies that do business online.”
April 19, 2021
On the wires
Stripe Newsroom: Stripe Issuing Launches in Europe
“Today, Stripe launched Stripe Issuing in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and the UK. Stripe Issuing enables users to create, manage, and distribute virtual and physical payment cards, giving businesses more control over how they spend their money. Whether it be an on-demand delivery marketplace giving couriers cards to pay for orders, or a car rental company providing cards for drivers to purchase petrol, Stripe Issuing puts businesses in complete control of how, where, and when their money is spent.”
April 13, 2021
On the web
How Payment Processor Stripe Became Silicon Valley’s Hottest Startup
Wall Street Journal
“The pandemic threatened to clobber Stripe Inc. Instead, it turbocharged the company. Stripe processes payments for e-commerce companies, keeping a tiny cut of each purchase as a fee for its services. When stay-at-home orders early in the pandemic caused spending to plunge and refund requests to skyrocket, the outlook wasn’t great…Stripe’s revenue last year rose nearly 70%, to about $7.4 billion, according to people with knowledge of the company’s finances. Other startups might have flashier apps or more recognized brands, but Stripe showed that it is better to be a workhorse than a show pony.”
April 6, 2021
On the web
Fintech Start-up Stripe Enters the Middle East With UAE Launch
CNBC
“One of Silicon Valley’s most valuable private fintech companies has chosen Dubai for its first expansion into the Middle East and North Africa. Online payments company Stripe is expanding into the Middle East, just weeks after its latest funding round, which pushed the company’s value to $95 billion , making it one of the most valuable private fintech firms in the world.”
March 29, 2021
On the web
Stripe Invests in Brex Rival Ramp at $1.6 Billion Valuation
The Information
“Ramp, a two-year-old startup that offers corporate cards and software tools for managing employee expenses, is close to finalizing two rounds of funding that will value the company at $1.6 billion, according to three people familiar with the deals. D1 Capital Partners led the first, $65 million round at a $1.1 billion post-money valuation with participation from payments company Stripe and existing investors Coatue Management and Goldman Sachs. Seeking a bigger stake in the company, Stripe is now leading another, $50 million investment in Ramp at the higher post-money valuation of $1.6 billion, two of the people said.”
March 26, 2021
On the wires
Stripe Newsroom: GoFundMe Partners With Stripe to Power Enhanced Fundraising Experiences in North America
“Stripe announced that fundraising platform GoFundMe has deployed its technology to ensure those in need are able to receive donations from those able to support quickly and efficiently. Working with Stripe further simplifies the fundraising experience on GoFundMe by helping to power a smooth donation experience, the swift withdrawal of donations by fundraiser organizers, and advanced trust and safety operations. The economic and social upheaval of the last 12 months has driven an extraordinary amount of need and generosity on the GoFundMe platform. GoFundMe recently announced more than $10 billion has been raised from over 150 million donations for people, causes, and organizations worldwide.”
March 18, 2021
On the web
How Stripe became Silicon Valley’s most prized asset
FT
“Silicon Valley’s most prominent start-ups are normally consumer internet ventures such as Facebook and Uber — aggressive, fast-growing companies on a relentless drive for global domination and the huge brand awareness that goes with it. Yet it is Stripe — a name unfamiliar to most outside the tech industry — that now sits atop the list of Silicon Valley’s most prized private companies after investors valued it at $95bn this week.”
March 12, 2021
On the wires
Stripe Newsroom: Postmates Added $70 Million in Revenue and Saved $3 Million in Network Fees With Stripe
“Postmates ran an A/B test involving Stripe and a leading payments processor. The focus was on authorization rates across credit card networks like Visa, Mastercard, and American Express. During the testing period, Postmates examined the success across both platforms…12 months after selecting Stripe in the A/B test, Postmates has seen an additional 2.16% uplift in authorization rates with Stripe, generating $70+ million in revenue and saved $3.3 million in card network fees.”
March 8, 2021
On the wires
SaaS Giant Atlassian Selects Stripe to Create a Single Platform for Global Billing and Payments Across All of Its Cloud Product Offerings
“Atlassian, a leading provider of team collaboration and productivity software, is partnering with Stripe to simplify and scale its global payments and billing systems for its $1.6 billion in software revenue. Since 2015, Atlassian has acquired several companies to expand its suite of offerings to plan projects, resolve incidents and deploy products. But while Atlassian wanted to build their own billing solution to create a unified purchasing experience across all of their products, they hit a common stumbling block: the project would require allocating engineering resources away from Atlassian’s core products.”
February 26, 2021
On the web
Stripe Is Seeking More Funding As Valuation Takes Off
Barron's
“Stripe is fundraising for a financing round that values the digital payments company at more than $100 billion, four banking and private-equity executives familiar with the matter said. It’s unclear exactly how much the San Francisco company is seeking. One banker said Stripe is targeting $1 billion to $1.5 billion, while others pegged the total as closer to $5 billion. Stripe declined to comment.”
February 19, 2021
On the web
Investors Are Now Valuing Stripe At $115 Billion
Forbes
“Investors are valuing Stripe at a $115 billion valuation in “secondary market” transactions, where shares of a private company’s stock are sold after they were first issued. That valuation is up more than threefold from the $36 billion Stripe fetched when it raised money in April 2020 from venture firms including Andreessen Horowitz, General Catalyst and Sequoia. Stripe is also planning a new primary funding round at a valuation north of $100 billion, according to a person familiar with the matter. A spokesperson from Stripe declined to comment.”
January 11, 2021
On the web
WSJ News Exclusive | Stripe Stops Processing Payments for Trump Campaign Website
Wall Street Journal
“Stripe Inc. will no longer process payments for President Trump’s campaign website following last week’s riot at the Capitol , according to people familiar with the matter. The financial-technology company handles card payments for millions of online businesses and e-commerce platforms, including Mr. Trump’s campaign website and online fundraising apparatus. Stripe is cutting off the president’s campaign account for violating its policies against encouraging violence, the people said.”
December 24, 2020
On the web
Stripe Wants to Be a $100 Billion One-stop Shop for Small Business
Quartz
“Covid-19 body-slammed most of the global economy, but not Stripe. Lockdowns and social distancing accelerated the shift from cash to digital payments, according to just about everyone , and that benefits companies like Stripe. During the first half of the year, US online retail spending hit $347 billion, according to McKinsey (pdf), a 30% jump from the same period in 2019.”
December 3, 2020
Top Post
Stripe launches Stripe Treasury in major expansion of financial services offering for platform partners
“Stripe, the technology company building economic infrastructure for the internet, today announced that it is launching Stripe Treasury. This gives Stripe’s platform users powerful APIs to embed financial services, enabling their customers to easily send, receive and store funds. Shopify is partnering with Stripe and Evolve Bank & Trust to build Shopify Balance, the business account designed to help merchants take control of their finances.”
November 24, 2020
On the web
Payments Startup Stripe Is in Talks to Raise New Funding
Bloomberg (paywall)
“Financial technology startup Stripe Inc. is in talks to raise a new funding round valuing it higher than its last private valuation of $36 billion, according to people familiar with the matter. The valuation being discussed could be more than $70 billion or significantly higher, at as much as $100 billion, according to one of the people, who asked not be identified because the matter is private. Talks are at an early stage and there’s no guarantee the funding round will be completed.”
November 18, 2020
On the wires
Twilio increases its authorization rates by 10% with Stripe
“Twilio ran an A/B test with multiple major global payment processors monitoring authorization rates across card networks like Visa, Mastercard, American Express, Discover, Diners Club, and JCB. The test was set up to randomize routing by examining numerous transaction attributes like card type, card brand, card country, transaction size, and transaction type. After weeks of A/B testing, Twilio selected Stripe. “We were seeing ~10% uplift overall in authorization rates,” said Chris Nasson, Director of Investor Relations & Treasury.”
October 30, 2020
On the web
Stripe moves payment processing to Dublin due to Brexit
Irish Times
“Share to Facebook Share to Twitter Share to Email App Share to LinkedIn Stripe is shifting payment processing for the majority of its European customers to its Irish-regulated entity because of Brexit, the company said on Thursday. The online payments company said processing for all customers outside of the UK and Switzerland will change to Dublin-based Stripe Technology Europe Limited, instead of Stripe Payments UK Limited as of November 19th. “We are making this change to ensure Brexit has no effect on your use of Stripe’s services. The only difference you may notice is that when you receive payouts from Stripe, the statement descriptor on your bank account statement may refer to STEL,”? the company said.”
September 28, 2020
On the web
Philippines Payment Processing Startup PayMongo Lands $12 Million Series A Led by Stripe
TechCrunch
“Stripe has led a $12 million Series A round in Manila-based online payment platform PayMongo , the startup announced today. PayMongo, which offers an online payments API for businesses in the Philippines, was the first Filipino-owned financial tech startup to take part in Y Combinator’s accelerator program.”
September 23, 2020
On the wires
Stripe Named Leader by Forrester, Strikes Global Commerce Partnership with Salesforce
“Today Stripe announced that it was named a Leader in the Forrester Wave™ report on Global Merchant Payments Providers, Q3 2020, achieving the highest scores by any ranked company in both strategy and current offering. Concurrently, CRM giant Salesforce announced that Stripe will power Commerce Cloud Payments. With this partnership, Salesforce joins hundreds of enterprises already using Stripe to scale and adapt. Among these, Stripe now counts more than 40 category leaders—companies processing more than $1 billion annually—as customers.”
August 4, 2020
On the wires
Jobber Partners With Stripe to Activate Financing and Instant Payouts for Home Service Businesses
“Jobber, a leading provider of home service management software, today announced an expanded partnership with technology platform Stripe to offer flexible financing and instant payouts to its customers in North America. Jobber is deploying Stripe Capital to make it easier for home service providers to access the capital they need to invest in their businesses and grow. In addition, Jobber’s customers have access to instant payouts, powered by Stripe and Visa Direct, Visa’s real-time push payments platform, to receive the funds they’ve earned within seconds.”
July 24, 2020
On the wires
Notarize, Stripe Keep Notaries Working From Home – Remotely and Safely
“Today, we announced a new partnership with leading payments platform Stripe to empower notaries with the ability to work online and receive almost instantaneous payment for the notarizations they have completed. By integrating with Stripe Connect, a platform that powers marketplaces by accepting payments from customers and paying out to service providers, Notarize can pay notaries on the same day they perform notarization services.”
June 29, 2020
On the wires
Stripe Launches Products to Support Platforms Powering the Economic Recovery
“Now, platforms powered by Stripe have access to an enhanced toolkit to help their own customers adapt to a fast-changing economic environment. By giving customers more control over their subscriptions and more options to pay with international bank debits, platforms can use Stripe’s infrastructure both to improve their end-customers’ experience and increase their own bottom line.”
June 16, 2020
On the web
How Stripe, CNBC’s No. 1 Disruptor 50 Company, Helped Keep the U.S. Economy Afloat During Pandemic
CNBC
“The Covid pandemic has upended the world’s economy. But for Stripe and the digital economy, the virus was somewhat of an opportunity: Shelter-in-place and social distancing measures sparked a shift to online commerce that otherwise would have taken years.”
May 27, 2020
On the wires
Stripe Launches in Five More European Countries
“Stripe, a global technology company that builds economic infrastructure for the internet, today announced its official launch in the Czech Republic, Romania, Bulgaria, Cyprus, and Malta. Europe is home to some of the largest and fastest-growing online economies in the world. This growth is even increased by the accelerated shift from offline to online that the COVID-19 crisis has brought with it, making the need for financial infrastructure and accessibility more apparent than ever. Stripe’s availability now enables more European entrepreneurs and businesses to start accepting payments online from around the world in a matter of minutes.”
Stripe Announces an Industry-first Partnership With JCB and Doubles Down on Its Japanese Operations
“Stripe, the online payment infrastructure provider powering Amazon, Facebook, Shopify, Zoom, Slack, and millions of businesses across 39 countries, announced several ambitious investments in Japan to accelerate the offline to online transition of the economy and help Japanese firms export globally.”
Payments News
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
OnDemand Modules
Recorded, one-hour videos covering a broad array of payments concepts.
Glenbrook Press
Comprehensive books that detail the systems and innovations shaping the payments industry.