Stripe, the online payment processing company, announced the rollout of Stripe Issuing in 20 European countries. Stripe Issuing enables users to manage, create, and distribute physical and virtual cards. This will ensure that companies have additional control over their finances and how they spend their money.
Strengthening foothold in Europe
As per the official announcement, businesses in Europe will help European businesses to create and distribute cards. Following the success of Stripe Issuing across the Atlantic in the U.S., Stripe continues to lay the foundation for a robust market presence across Europe.
Stripe Issuing has been launched in Belgium, France, Finland, Estonia, Cyprus, Austria, Greece, Ireland, Germany, Lithuania, Latvia, Malta, the Netherlands, Italy, Spain, Slovakia, Portugal, Slovenia, and the UK.
Following the announcement, Matt Henderson, EMEA Business Lead, Stripe, said that the process of creating and distributing new cards has always been challenging in Europe, and only limited companies were doing it efficiently.
He said that creating and shipping new cards would take months in Europe, and with Stripe Issuing, it will only take two days.
More about Stripe Issuing
The fintech firm also clarified that companies will now be able to create branded cards on Stripe’s Dashboard. While the company promises to deliver physical cards within two business days, virtual cards will be issued instantly.
The cards created using Stripe Issuing can be controlled programmatically and managed by Stripe Issuing’s very own API. Besides, Stripe Issuing can be easily integrated with its wide spectrum of products.
These integrations will allow users to manage their cards by issuing programs alongside fraud prevention, payments, invoices, recurring bills, and analytics.
Currently, Stripe Isussing is fully operational at a large scale in the U.S. The service has played an important role in powering billions of dollars of payments for hundreds and thousands of companies.
Companies with existing card issuing programs such as Ramp, Flexshopper, and Klarna have signed onto Stripe.
Stripe’s recent expansion
In the first week of April, Stripe announced the launch of its services in the United Arab Emirates (UAE). The fintech company also touched upon its plans of opening an office in Dubai Internet City.
In recent months, Stripe has successfully raised $ 600 million to facilitate its growth across Europe.
Image Source: Stripe