Stripe, an online payment processing firm, announced today that Stripe Issuing has been launched in 20 countries across the European region. Stripe Issuing allows users to create, manage and distribute virtual and physical payment cards.
According to the official announcement, Stripe Issuing will facilitate European business in the creation and distribution of cards. The financial services provider has already processed billions of dollars through Stripe Issuing during the first year of its launch in the US.
The company has launched Stripe Issuing in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain and the UK.
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Commenting on the latest announcement, Matt Henderson, EMEA Business Lead at Stripe, said: “Creating and distributing new cards in Europe has long been so complex and opaque that only a handful of companies could ever justify doing it. Today, we’re making it fast, simple and secure. It used to take months to create and ship new cards in Europe. With Stripe Issuing, it now takes two days. We’ve been astonished by the breadth of use cases businesses in the US have found for our Issuing infrastructure and can’t wait to see what our European users build with it.”
The fintech company mentioned that businesses will be able to create their own branded cards in Stripe Dashboard. The firm added that physical cards will be delivered within two business days while users can create virtual cards instantly.
Earlier this month, the company announced the launch of its services in the United Arab Emirates (UAE). Additionally, the fintech provider highlighted that it is planning to open an office in Dubai Internet City. The company recently raised $600 million to expand its European operations. According to the latest estimates, Stripe is valued at around $95 billion.
In February 2021, the financial technology provider welcomed Mark Carney, former Governor of the Bank of England (BOE), to the company’s Board of Directors.