Stripe, the payments startup, has today opened a closed Beta of its platform in the UK. For now it will be limited to an undisclosed number of partners, but will be gradually “trickled out” to the current waiting list of developers and start-ups which apparently run into “thousands.”
According to cofounder Patrick Collison, speaking on stage at London Web Summit, Stripe’s UK launch will provide the same “batteries-included” stack that they offer in the US: full API for web and mobile payments, recurring billing support, stored payment credentials, instant activation, and easy PCI compliance.
Stripe’s UK beta will enable GBP and USD payments on Visa and MasterCard cards. Euros are “coming soon”.
Strip is disrupting traditional payment processing companies like PayPal and Visa, by not having any setup fees, no monthly fees, no minimum charges, no validation fees, no card storage fees, and no charges for failed payments. Stripe has an office in London and is actively hiring.
Thairu (his full name) the engineer who built much of the UK infrastructure said in a statement: “Support for countries outside the US has been our most requested feature since we launched. We’re excited to be in the UK – there’s a new flag flying in our SF office!” Stripe launched in Canada in September 2012.
Stripe launched in late 2011, and powers online payments for thousands of companies, including Foursquare, Reddit, Shopify and Squarespace.
Co-founded by brothers Patrick and John Collison, the firm received around $40 million USD in investment from Sequoia Capital, Andreessen Horowitz, SV Angel, and PayPal founders Peter Thiel, and Elon Musk.