Payment Methods

Stripe Launches Corporate Card, Expands Payouts To 45 Countries

Stripe

Financial services and technology company Stripe now has the capability to pay out to 45 countries, and has launched a new corporate card for businesses, the company announced Tuesday (Sept. 10).

Stripe said it has been investing in its global network to help facilitate an international payments platform, noting that “scaling a platform internationally involves significant challenges such as contending with esoteric onboarding requirements in various countries and languages, connecting into local banking rails, and navigating the complications of international AML [anti-money laundering] and KYC [know your customer] regulations to verify new sellers.” 

The company said platforms powered by Stripe can now make payouts to 45 countries in local currencies in countries like Thailand, Indonesia or Poland.

Stripe also announced the creation of the Stripe Corporate Card to help companies make it easier “to run an internet business, boost revenue, and expand internationally.”

Companies can get started right away with the card, and they don’t have to fill out lengthy applications or get used to managing yet another service, Stripe said. A company can upload its own logo right to the Stripe Dashboard for an instant virtual card, or get a physical card in a few days.

A company can easily set spending limits by category and can stop the purchase of certain items or categories all together. All transactions will show up instantly in the Stripe dashboard as well. 

The company said the card has no fees and will earn businesses 2 percent back on the top two spending categories.

Stripe also announced that businesses in the U.S. can choose to receive funds in minutes with Instant Payouts. Connect Express, Stripe’s onboarding and payout infrastructure, is now available in 28 new markets, and Terminal, Stripe’s in-person payments product is now available to Canadian businesses. 

Stripe also recently expanded to Estonia, Greece, Poland, Portugal, Lithuania, Latvia, Slovakia and Slovenia.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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