Stripe Issuing integrates with Stripe’s suite of products and allows users to manage card issuing programmes alongside payments, fraud prevention, analytics, invoices and recurring billing.
Businesses can design their own cards with their own branding in the Stripe Dashboard. Stripe handles card production, fulfillment and shipping. Virtual cards are created instantly, while physical cards are shipped in two business days.
Stripe Issuing already operates in the US with companies like Klarna, Ramp and Flexshopper, who have existing card-issuing programmes, already signed on to Stripe. Users such as Cornershop have taken advantage of Issuing to launch new business opportunities.
Today’s Stripe Issuing launch enables European businesses like Worklife and InnStyle to use Stripe. Moreover, Stripe’s global user base can begin issuing cards in Europe.
Emburse Captio will be one of the first to use Stripe Issuing to enable Italian and Spanish businesses to provide expense payment cards to employees set up with custom spend controls that can be configured to their specific company policies. The business travel and spend management company TripActions uses Issuing in the US and are now bringing the functionality to their European users.
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Simon Taylor, co-founder of the financial consultancy firm 11:FS said:
The ability for any business to issue cards to suit its needs is a significant unlock for businesses who want to create and manage their own way of making payments. Everything from creating cards that can only be used for fuel by drivers, to expenses cards inside an e-commerce platform, can be built using simple and easy-to-use tools. By embedding card issuing tools in the Stripe Dashboard and with its infrastructure first approach, these capabilities just became available to Stripe’s already large European customer base. I’m interested to see what Stripe’s customer base will do with these tools.
Stripe recently raised $600 million in the latest funding round at a valuation of $95 billion. Investors in its latest funding round include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA).
