Stripe revs up European expansion with private beta in Germany

Oktoberfest
Oktoberfest

Payment provider Stripe launched a private beta service in Germany today. The US company is already well-established in its home market and is now revving up its European expansion – last March, it began rolling out its service in the UK.

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The company announced the news in a tweet this morning, asking Germans to sign up for invites. It’s also in beta testing in Ireland, the Netherlands, France and Belgium and recently launched in private beta in Australia – its first foray into the Asia-Pacific region.

Stripe allows individuals and companies to easily accept credit and debit card payments online by providing developer-friendly tools. It charges a fee for each successful transaction but does not have any setup or monthly fees.

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In Germany, the payment provider faces competition from Rocket Internet-backed Paymill, which is currently available in 37 countries and backed by €10m funding. It recently paired up with US-based eCommerce store builder Shopify to help Shopify expand to Europe. Paymill charges a 2.95 per cent and 28 euro cent transaction fee compared to Stripe’s 2.9 per cent and 30 US cents.

Braintree, another US-based online payments provider, is also live in Germany, along with 33 other markets.

Last July Stripe closed a $20m Series B round, bringing its total funding to $38m. Investors include Sequoia Capital, Redpoint Ventures, Peter Thiel and Elon Musk.

Image credit: Flickr user Greenwich Photography

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