Stripe Newsroom: Stripe introduces the Stripe Corporate Card and activates payouts to 45 countries

A major driver of economic growth today is platforms and marketplaces—businesses that connect networks of “buyers” and “sellers”. But 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 and KYC regulations to verify new sellers.

Stripe has been investing in its Global Payments and Treasury Network to help solve this pain point for ambitious, global platforms and marketplaces that want to connect retailers with consumers, drivers with passengers, donors to open source developers, and so on. Starting today, US businesses and platforms can make payouts to recipients in 45 countries in local currencies and over local bank networks. That means that today, platforms powered by Stripe can send money to users in Thailand, Poland, or Indonesia, just to name a few, with zero extra engineering work.

Stripe adds functionality to Connect, Billing and Terminal products, and launches in Central and Eastern Europe

At Sessions, Stripe made a series of other product announcements and continued its international expansion, summarized here:

  • Instant Payouts—businesses in the US can now choose to receive their funds within minutes.
  • Connect Express—Stripe’s fully hosted seller onboarding form and payout infrastructure rolls out to 28 new markets, to make it easier for platforms to add localized onboarding flows for international sellers.
  • Terminal—Stripe’s product for in-person payments is now available to businesses based in Canada.
  • Billing—Stripe’s product for subscription businesses rolls out a revenue recognition beta to help finance teams with GAAP reporting and reconciliation.
  • Central and Eastern Europe expansion—Stripe launched[3] in Estonia, Greece, Latvia, Lithuania, Poland, Portugal, Slovakia, and Slovenia today, helping internet businesses in this region to start, grow, and scale their business globally and accept money from anywhere in the world.

To watch the keynote from today’s event, visit here[4].

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