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TMCNet:  Stripe Launches in 130 New Currencies to Power Global Business

[February 11, 2014]

Stripe Launches in 130 New Currencies to Power Global Business

SAN FRANCISCO --(Business Wire)--

Furthering its mission to expand Internet commerce, Stripe today announced the ability for users to accept more than 130 currencies. Businesses running on Stripe can now instantly begin selling in nearly any currency, from Euros to U.S. Dollars, Algerian Dinar to Chinese Renmibi.

Online businesses benefit from an increasingly global audience for goods and services. As more of the world comes online, it's increasingly critical that businesses can handle the currencies of Internet trade.

"Stripe's mission is to grow Internet commerce by providing everything an online business needs to accept payments," said Patrick Collison, co-founder and CEO of Stripe. "Built-in multicurrency support is another example of how Stripe is helping businesses scale faster and more efficiently."

Beginning today Stripe users in the United States and Europe can sell their products in almost any world currency. Stripe will automatically handle all necessary conversions and perform daily deposits in its users' bank accounts.

In keeping with Stripe's ethos of simplicity and developer-friendliness, multicurrency is a standard feature and requires no additional work to integrate. Currency functionality that previously represented a quagmire of paperwork and integration work can now be implemented in minutes.

Guardian News & Media publishes theguardian.com, the third largest English-language newspaper website in the world (comScore (News - Alert), December 2013), as well as the Guardian and The Observer newspapers in the UK and digital editions in the U.S. and Australia.


The Guardian has chosen to work with Stripe to power some of its existing subscription services in the UK, while exploring the global potential of the service to support audience revenue streams in other markets.

Julia Porter, consumer revenues director, Guardian News (News - Alert) & Media, said, "We are pleased to be working with Stripe to offer our readers more responsive and dynamic ways of accessing some of our popular subscription services in the UK."

As one of the world's leading sites for video sharing, Dailymotion attracts over 112 million unique monthly visitors and 2.5 billion videos views (source: ComScore, January 2013). Dailymotion provides high-quality and HD video in a fast, easy-to-use online service with 35 localized versions in 18 different languages.

"At Dailymotion Cloud, our white label online video platform used by thousands of companies globally, we need to make it easy for our customers to purchase a subscription plan. Stripe allows us to be global instantly, removing the hassle of managing payments ourselves. The integration of Stripe to the Dailymotion Cloud website and back office has been smooth and transparent for all of our customers," said Florent Pajani, Dailymotion Cloud Director.

Traditional merchant banks pose considerable barriers to entry for new companies - and substantial friction for existing ones. Stripe's API, payment connectivity, and rapidly-growing global reach replace a complicated matrix of bank accounts, gateways and subscriptions managers. Stripe handles the heavy lifting of payments - from credit-card storage to fraud detection - and lets companies get back to building.

About Stripe

Stripe processes billions of dollars a year for some of the most successful companies and marketplaces on the Internet, making it easier than ever to accept payments and manage an online business. Supporting startups to Fortune 50 companies, Stripe powers the sharing economy, top mobile applications, and global software services. Investors include Sequoia Capital (News - Alert), Andreessen Horowitz, Khosla Ventures, as well as PayPal co-founders Peter Thiel, Max Levchin and Elon Musk.

For more information about how Stripe is expanding commerce on the Internet, visit http://www.stripe.com.


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