Stripe

What is Stripe?

Stripe is an Irish-American financial services and software company headquartered in San Francisco, California and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces for e-commerce websites and mobile applications. Stripe was founded by the Irish entrepreneur brothers John and Patrick Collison  in 2009. Stripe is estimated to be worth around $100 billion as of 2022.

Some of Stripes competitors would be the likes of PayPal. Ironically, the founder of PayPal , Elon Musk was one of the first investors in stripe in 2011.

What does Stripe do? 

In simple terms when a customer purchases a product or service online, the money needs to be delivered to the seller. Stripe allows for the safe and effective processing of these funds and efficient delivery to the seller. The main attraction of stripe is that the software can be integrated into ecommerce businesses websites as well as applications.

Other products Stripe provides

In 2018, the company released an anti-fraud tool called Radar, that seeks out and blocks fraudulent transactions. A tool like radar is especially important in today's world, where cybersecurity for businesses is essential, and often overlooked.  

Stripe also expanded its services to include a billing and invoicing product for E commerce businesses, allowing them to manage subscriptions and invoicing, 

Stripe also made its service, Terminal, publicly available within the USA, which had previously been in beta, and invite only. The service offers physical credit card readers designed to work with Stripe.

Stripe has also launched a merchant cash advance scheme known as Stripe Capital. The scheme allows Stripe merchants to request an advance on future payments they expect to process through their Stripe merchant account.