As more people return to in-store shopping, businesses managing both physical locations and eCommerce markets are tapping financial infrastructure platform Stripe and its Stripe Terminal solution to handle payments online and off, according to a press release on Friday (Jan. 21).
Stripe Terminal offers online merchants the ability to take in-person payments on a single platform. It powers transactions in-store and online using one unified tech stack. Together with Stripe Connect, Terminal enables platforms like Lightspeed, Mindbody, Shopify and Wix to give their business users the capability to accept in-person payments.
“With Stripe Terminal, businesses on Mindbody can use the same payment system for both online and in-person transactions, simplifying the experience for both wellness staff and customers,” said Emily Bartels, vice president of payments at Mindbody.
“Now with Terminal available in the U.K., more businesses using Mindbody can meet customers where they are, either online or in-person, with a cohesive way to pay for appointments and classes,” Bartels added.
After launching in the U.S. in 2018, Stripe Terminal grew its footprint in 2021 to nine additional countries across four continents. It’s now available for businesses in Australia, Canada, France, Germany, Ireland, the Netherlands, New Zealand, Singapore, the U.K. and the U.S. Terminal offers businesses flexible developer tools, pre-certified card readers and cloud-based hardware management.
“Despite the pandemic-fueled surge in online shopping, in-person sales remain important to many businesses’ bottom line. In the past year alone, Terminal payment volume has increased sixfold. As consumers return to in-person shopping, businesses around the world are now able to seamlessly accept both online and offline payments in a single system,” said John Affaki, Terminal business lead at Stripe.
Stripe also announced in the Friday (Jan. 21) press release that it had entered into an agreement to acquire Terminal manufacturing partner BBPOS. In 2021, the two companies launched three new card readers, including the Stripe Reader. Bringing hardware development in-house will help Stripe boost card reader innovation.
“With Terminal, we offer simple, seamlessly integrated payment solutions to our global users. Bringing BBPOS’s hardware capabilities in-house means we will soon be able to innovate even faster,” Affaki said.