Stripe clone Paymill expands across Europe



Paymill, the Stripe clone backed by Berlin company builder Rocket Internet, has quietly expanded its payments processing service to 29 new markets across Europe.

The news, also picked up by Hacker News then The Next Web, means Paymill – founded by Mark Henkel in June 2012 – is now active in a total 32 European countries.

Paymill, like US-based Stripe, offers web developers a one-stop shop to set up and process credit card payments, though a simple and easily-integrated API. It’s also joined in the PayPal-alternatives camp by Braintree, a payments processor used by Airbnb and Fab.

Mark HenkelHenkel, speaking to VentureVillage via email today, made the European-wide roll-out sound deceptively simple. “First, we negotiated a contract expansion with our acquring bank. Second we adjusted our on-boarding process to provide the same simplicity for our foreign customers,” he said.

Stripe is yet to expand beyond North America, possibly due to differences in regulations and customer behaviour. For example, Stripe requires users to have a social security number – keeping the sign-up process quick in the US, but something that’ll need a tweak before its launch in Europe.

The focus for Paymill now is on acquiring new users and keeping all customers happy, Henkel said. “We believe that good products will gain market share by word of mouth.” The company’s website states it is also working to integrate new payment methods.


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