Stripe Extends Its Services to Five More European Countries
Image Credit: Pixabay

Key Takeaways: 

  • As part of its continued European expansion, Stripe has announced it is rolling out in five new countries.
  • It has now forayed into the Czech Republic, Romania, Bulgaria, Cyprus and Malta.
  • The global payment provider is now available in 39 countries worldwide, including 29 in Europe.

While the ongoing pandemic has forced people to stay indoors, it has catalyzed the digital movement. With brick and mortar stores shutting its doors per government regulations to contain the virus, people are resorting to launching their own digital stores and investing in e-commerce sites. 

To make sure the payment process continues smoothly, Stripefounded by Limerick brothers Patrick and John Collison – has been boosting its operations across the world and increasing its global footprint. 

Founders of Stripe Patrick and John Collison
Stripe Co-Founders Patrick & John Collison. Image Credit: Stripe

Lately, it announced that it has rolled out its payment services in five more European countries totaling to 39 countries worldwide, of which 29 are European. 

Having launched in the Czech Republic, Romania, Bulgaria, Cyprus and Malta, some of the services Stripe will offer include access to Stripe Connect for running multi-sided marketplaces, billing for subscriptions and recurring payments, radar for fraud detection and Sigma for analytics.

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According to the firm, the past few months have witnessed hundreds of millions of euros in payments on Stripe by European entrepreneurs in Central and Eastern Europe and the expansion will help more businesses thrive in a tumultuous time as this. 

“The COVID-19 crisis has accelerated the shift from offline to online commerce, making the need for financial infrastructure and accessibility more urgent than ever,” the firm said adding that the goal is to “make Stripe available to every business across Europe.”

Detailing on the process of the expansion, Stripe said MEWS, Ramon Nastase, Aesthetic by Science, and Mana are a few of the many companies “that helped shape this product during its beta phase.”

Commenting on the plans, Stripe Europe, Middle East and Africa business lead Matt Henderson said:

“We are excited about bringing Stripe to even more European countries, making payment acceptance and money movement faster and less complicated for everyone.

“We are nearing our goal of making Stripe universally available to businesses across the continent.”

Seconding Henderson, Stripe co-founder John Collision added:

“People who never dreamt of using the internet to see the doctor or buy groceries are now doing so out of necessity.

“And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight.”

Stripe on a mission to ease payments worldwide

The expansion comes after the firm raised $600m therefore bringing the company’s valuation to circa $36bn. Recently, the company also ventured into the US, allowing users to create and control virtual and physical cards deemed Stripe Card. 

The firm whose clientele includes companies in the likes of Zoom, Just Eat and Amazon, is going from strength to strength.