Online payments service provider Stripe is now processing up to $500,000 a day for collaborative consumption startups, TechCrunch reports. The statement comes roughly two weeks since Stripe made it easier for these startups to take and process payments.
Stripe allows companies to distribute payments between multiple bank accounts. This functionality helps companies like the popular ridesharing service Lyft facilitate interactions between multiple parties, such as drivers and passengers.
TechCrunch said the move is noteworthy as its success could inspire Stripe to bring its service to different verticals by going after specific pain points.
Read the full report here.