Payments Startup Stripe Launches Operations for Australian Merchants
Payments startup Stripe has launched payments platform for Australian retailers. The service allows online merchants to accept payments in more than 100 currencies and will make payments to bank accounts in Australian dollars.
Stripe president John Collison said that Stripe offers wide options for online shoppers and powerful APIs for merchants to scale their business and accept payments in a secure environment.
Stripe will offer domestic transactions at a lower price of 1.75 percent + 30 cents fixed fee for each transaction. The charges for American Express and International transactions will be 2.9% + 30 cents fixed charges per transaction.
Payment systems charge a fee based on the percentage of the transaction value. Many small and medium size websites use different payment processing companies to safely accept payments from online shoppers. As the financial data security and other personal data privacy is important for most online shoppers, the payment processing systems offer a safe way to transact online.
Stripe has been backed by investors including Max Levchin, Elon Musk and Peter Thiel. The company backed by venture capital majors including Sequoia Capital, Founders Fund and Khosla Ventures has collectively raised US$130 million and currently enjoys a valuation above $1.75 billion.
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