Stripe (company)
Stripe, Inc. is an Irish-American financial services and software as a service (SaaS) company dual-headquartered in San Francisco, United States and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications. History. Irish entrepreneur brothers John and Patrick Collison founded Stripe in Palo Alto, CA, in 2009. In 2011, the company received investment of $2 million including from PayPal co-founders Elon Musk and Peter Thiel, Irish entrepreneur Liam Casey, and venture capital firms Sequoia Capital, Andreessen Horowitz, and SV Angel. In March 2013 , Stripe made its first acquisition, Kickoff, a chat and task-management application. In 2012, the company moved from Palo Alto to San Francisco. In October 2019, the company announced that it would be moving from the South of Market area to Oyster Point in the neighbouring city of South San Francisco in 2021. In February 2021, former Governor of the Bank of England, Mark Carney, was appointed to the Stripe board. On October 20, 2021, Stripe acquired accountancy platform Recko; Recko’s solution will be added to Stripe’s existing suite of financial tools. In January 2022, Stripe entered a  five-year partnership with Ford Motor Company; through this deal, Stripe will handle transactions for consumer vehicle orders and reservations. That same month, Stripe partnered with Spotify to help creators monetize subscriptions, accept payments and launch recurring revenue streams. In April 2022, Twitter announced that it will partner with Stripe Inc (digital payments processor) for piloting cryptocurrency payouts for limited users in the platform. “The crypto payments will be routed through Stripe Connect, which will also handle KYC requirements”, Stripe said. The company announced it is also planning to add options for payment in other cryptocurrencies in the future. In  April 2022, Stripe announced its strategic partnership with Uk-based FinTech company ION. Services. Payment processing. Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications. In April 2018, the company released anti-fraud tools, branded "Radar", that block fraudulent transactions. In 2018, the company expanded its services to include a billing product for online businesses, allowing businesses to manage subscription recurring revenue and invoicing. On June 11, 2019, Stripe's point of sale service, called Terminal, was made available to U.S. users. Terminal had previously been invite-only. The service offers  physical credit card readers designed to work with Stripe. As of July 2020, Terminal supports two card readers: Verifone P400 and BBPOS Chipper 2X BT. On September 5, 2019, Stripe launched a merchant cash advance scheme called Stripe Capital. The scheme allows Stripe merchants to request an advance on future payments they expect to process through their Stripe merchant account.<ref>