Digital payment giant Stripe, has announced the opening of an office in United Arab Emirates financial capital Dubai. This will be the company’s first expansion into the Middle East. Stripe, US based digital payment company, having its headquarters over Dublin and San Francisco, has expanded its business to UAE.
More than 50 companies use Stripe, which was founded by Irish brothers Patrick and John Collison in 2010. Companies such as Uber, Amazon, Google and shipping giant Maersk are all using this payment service. The new headquarters over UAE is set up at Dubai. Now Stripe can be used for making pay outs, online payments, reach customers, invoicing software, subscriptions, reduce fraudulent etc., in the UAE businesses.
Matt Henderson, EMEA Business Lead at Stripe stated UAE as a thriving hub for technology in a statement. He also stated that it is being supported by a group of business experts, tech savvy consumers, an open ecosystem of entrepreneurs and a strong investment spirit. As Stripe has been working on a trial basis prior to its launch, they have more perspective view over UAE. This trial is to test the feasibility of its technology with various clients all over the Middle east. This company has joined hands with Dubai’s network to expand its service in the Middle East region. This partnership with Dubai based payment processor Network International is expected to give a great progress.
Last year the company had a sky rocketing raise in digital payment transactions of $18.5 billion. In the next two years there is an expectant raise of another $10 billion. While Stripe was arranging invitations for the launch in the first few weeks, the company have had attention of over 10,000 businesses.