Stripe offers payments APIs to e-commerce merchants and developers. Now, the company is increasingly offering financial products outside of its core APIs to compete more directly with incumbents.
On September 10th, Stripe — the high-flying payments disruptor most recently valued at $22.5B (with $1.1B in total disclosed funding) — announced the launch of a corporate charge card. This announcement comes just five days after its launch of another lending business, Stripe Capital, which offers merchant cash advances to US-based online businesses.
Below, we take a look at some key takeaways from the announcement, as well as why it matters and what it means for the competition.