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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

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 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

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

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.”

May 7, 2020

On the wires

Stripe Newsroom: QuadPay Builds New Installment Model With Stripe Issuing

“QuadPay, the payment installment platform, is partnering with Stripe to power advanced buy-now-pay-later experiences that boost conversion and let consumers start shopping instantly both online and in-store. Built on Stripe’s issuing infrastructure, QuadPay enables consumers to start shopping in installments anywhere Visa is accepted and powers buy-now-pay-later experiences that boost sales by more than 20% on average.”

April 23, 2020

On the web

Stripe adds card issuing, localized card networks and expanded approvals tool

TechCrunch

“At a time when more transactions than ever are happening online, payments behemoth Stripe is announcing three new features to continue expanding its reach. The company today announced that it will now offer card issuing services directly to businesses to let them in turn make credit cards for customers tailored to specific purposes. Alongside that, it’s going to expand the number of accepted local, large card networks to cut down some of the steps it takes to make transactions in international markets. And finally, it’s launching a “revenue optimization” feature that essentially will use Stripe’s AI algorithms to reassess and approve more flagged transactions that might have otherwise been rejected in the past.”

April 16, 2020

On the wires

Stripe Newsroom: Stripe Extends Series G Funding Round

“While the full economic impact of COVID-19 remains uncertain, several years of offline-to-online migration are being compressed into several weeks. The current disruption underscores the need for reliable, easy-to-use infrastructure for internet businesses. In this context, Stripe’s mission—to grow the GDP of the internet—means providing an on-ramp to the digital economy for businesses around the world. The rate of new businesses going live on Stripe has accelerated since the start of the year.”

December 13, 2019

On the web

Stripe Is Trying to Rewire the Internet’s Attention Economy

Quartz

“Forget unicorns—Stripe is the fintech world’s $35 billion gorilla. Nine years after it was founded, Stripe’s software has become the payment plumbing for e-commerce giants like Amazon, as well as tiny startups in more than 120 countries. The San Francisco-based company straightens out the byzantine payment and financial networks around the globe, giving developers and entrepreneurs a system they can swiftly plug into to start accepting and sending money, said Matt Henderson, Stripe’s Dublin-based lead for Europe, the Middle East, and Africa.”

October 28, 2019

On the web

Payment Startup Stripe Moves into Cash-Heavy Mexico After CoDi

Bloomberg

“Mobile payment startup Stripe Inc. began operations in Mexico, three weeks after after the launch of a similar central bank-backed system aimed at boosting the amount of digital payments used in the nation’s cash-heavy economy.    Stripe, used by companies including Uber Technologies Inc., touts a key difference between it and CoDi, as Banxico-backed cobro digital is known: Its users can make and take payments worldwide. Distrust of established banks in Mexico is high, and remains one of the key obstacles to widespread CoDi adoption.”

October 7, 2019

On the wires

Stripe Launches in Malaysia

“Today, we’re happy to officially launch Stripe in Malaysia. Businesses all across the country can now easily accept and manage payments, and access the full Stripe stack including Billing, Connect, Radar and Sigma. More than 80 percent of Malaysians already access the internet and as many as two-thirds of them do so via their smartphones. Despite the continued growth in connectivity, the country’s internet economy remains a small fraction of the overall GDP. With today’s launch, we want to help thousands more entrepreneurs and companies in Malaysia grow and scale their online businesses domestically and internationally.”

September 10, 2019

On the web

Payments Giant Stripe Debuts a Credit Card in Its Latest Step Into the Financing Fray

TechCrunch

“Announced officially today to coincide with the company’s developer event Stripe Sessions, the Stripe Corporate Card — as the product is officially called — is a Visa that will be open to businesses that are incorporated in the US, although they can operate elsewhere. Notably, users are expected to pay their balance in full each month, so for now there is no interest rate, or fee, to use the card, with Stripe making its money by way of the interchange fee that comes with every transaction using the card.”

September 5, 2019

Top Post

Stripe Launches Stripe Capital to Make Instant Loan Offers to Customers on Its Platform

TechCrunch

“A year ago we broke the news that payment giant Stripe was quietly making its first move into business finance by testing a service for advancing cash to existing customers. Now, nearly 12 months on to the day, the company is finally unveiling an official product: today, starting first in the US, it is launching Stripe Capital , a service for advancing cash to customers that in turn gets repaid out of their future sales made through Stripe’s payment platform, with loan amounts and repayments based on the customer’s transaction activity on Stripe itself.”

August 7, 2019

On the web

Payments Giant Stripe Adds to Global Expansion Spree With First Office in Latin America

CNBC

“Multi-billion dollar payments start-up Stripe is expanding its quickly growing global footprint with a flagship office in Latin America. Stripe, which has become one of the most sought after payment start-ups in Silicon Valley, announced Tuesday it was opening an office in Mexico City to attract engineering talent and capitalize on the mobile-payment and e-commerce growth in the region.”

May 2, 2019

On the web

Stripe’s Fifth Engineering Hub Is Remote

Stripe blog

“Stripe has engineering hubs in San Francisco, Seattle, Dublin, and Singapore. We are establishing a fifth hub that is less traditional but no less important: Remote. We are doing this to situate product development closer to our customers, improve our ability to tap the 99.74% of talented engineers living outside the metro areas of our first four hubs, and further our mission of increasing the GDP of the internet.”

April 25, 2019

On the wires

Stripe Billing Launches in Europe to Power Subscription Companies Across the Continent

Stripe Newsroom

“Today, Stripe launched Stripe Billing in Europe. As a product built on top of Stripe’s core payments infrastructure, Stripe Billing simplifies the recurring billing process for SaaS and subscription-based companies, such as Slack and Meetup in the US. Subscriptions are a driving force in the internet economy. The subscription e-commerce market has grown more than 100 percent a year over the past five years, and 32 percent of people would prefer to buy goods via subscriptions than one-off purchases. In Europe, subscription businesses are growing even faster than in the US.”

February 7, 2019

On the web

Globalization Helped Make Stripe a $23 Billion Company. Here’s What Comes Next

Bloomberg

“In 2010, when Patrick Collison founded Stripe Inc. with his younger brother John, he thought the world was headed toward ever-increasing globalization, economic stability and international commerce. Now, based on the events of the last couple years, no one holds “so Panglossian a view,” said the 30-year-old chief executive officer. “There are more headwinds to global economic integration than there were any time in the past 20 years,” Collison said. “That’s going to make global expansion more difficult for businesses in general.””

January 9, 2019

On the wires

Cross River Bank Partners With Stripe To Power The Marketplace Economy With Push-To-Card Payments

Cross River Bank, a fast-growing provider of banking services for financial technology companies, today announced that it has established a partnership with Stripe to help those in the marketplace economy – such as workers in ridesharing, food delivery, and other freelance occupations – by providing them with access to their earnings through push-to-card payments.”

November 14, 2018

On the web

Challenger bank Tandem partners with Stripe for upcoming ‘Auto Savings’ feature

TechCrunch

Tandem, the U.K. challenger bank, is gearing up to launch a new “Auto Savings” feature — a clever way to lower the barriers for Tandem  app users who want to save for a rainy day — and to power the feature the company is partnering with Stripe. The latter in itself isn’t necessarily huge news when you consider that Stripe  is morphing into a payments company in the broadest sense. However, it does come at a time when other U.K. bank upstarts are attempting to wean users off making Stripe-powered card payments to top up their accounts since fees can soon add up.”

October 5, 2018

On the web

The untold story of Stripe, the secretive $20bn startup driving Apple, Amazon and Facebook

Wired UK Long Reads

““For us it was quite visceral: these products are not serving the needs of the customers, so let’s build something better,” John Collison argues. “In old-fashioned legacy companies it’s the CFO choosing the payments system. They think all systems are alike, so they just sort the bids from suppliers. But if you’re a developer building the next Kickstarter, or the next Lyft, and you have a two-person team, both of you writing relatively complex code and solving complex infrastructural problem, you need a simple payments API that – once installed – doesn’t keep changing.””

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