From today, Australian merchants can now create a Stripe account in minutes and instantly begin accepting payments in more than 100 different currencies, receiving deposits in Australian dollars in their current accounts.
Stripe co-founder and president John Collison said the company’s mission was to grow Internet commerce “by providing everything an online business needs to accept payments."
"We hope Stripe's powerful set of tools and APIs helps Australian businesses scale globally."
According to Collison, in the past, traditional merchant processing posed considerable barriers to entry for new companies – and substantial friction for existing ones.
“Stripe's fully-online payment service and rapidly-growing global reach replace a complicated matrix of bank accounts, gateways and third-party software. Stripe handles the heavy lifting of payments — from credit-card storage to fraud detection — and let’s companies get back to building.”
Pricing for Stripe in Australia will be 1.75% + 30c for domestic transactions and 2.90% + 30c for international and American Express transactions.
"I expect the pace of innovation to pick up significantly now that Stripe is here," said Niki Scevak Startmate, Blackbird VC.
"While payments solutions in Australia have been incremental improvements, we think the arrival of Stripe could mean that new kinds of businesses will be easier to start than ever in Australia, particularly online software and services businesses like Campaign Monitor or Atlassian, marketplaces like Freelancer or 99Designs, and subscription businesses."