is an online payment service founded in 2010 by Irish brothers Patrick and John Collison. Its application programming interface (API) can be integrated quickly by an online merchant to start accepting card payments. The company, which according to Crunchbase has raised $290 million, also counts payment company Visa and American Express as investors.
The Stripe team is investing in understanding the Indian market, including local nuances and regulatory structure. "India is an important market, and Stripe is focused on developers who it helps build business. They have to take Indian market seriously," they said.
The company has not yet finalised a launch date. To lead its efforts, Stripe quietly hired Anand Balaji in March. Balaji was part of Amazon India's launch team and headed mobile business development.
"We don't comment on future plans, but India is a very exciting market and we're blown away with the calibre of entrepreneurs we see here," said a Stripe spokesperson. The company, which says its aim is to "increase the GDP of Internet" is already present in 25 global markets.
According to experts tracking the space, interest from global payments is likely to continue towards India because of several reasons.