Stripe, a US-based digital payments firm, has launched an invite-only private beta in India with a limited number of companies.
Through the move, the company aims to generate feedback on the platform’s local features and its feasibility for Indian businesses.
Stripe announced plans to set up an India base last year and also hired Anand Balaji, a former Amazon executive, to lead India business.
“With Stripe Atlas, we’ve already been able to help some Indian entrepreneurs build and scale global companies. However, we believe that by operating locally in India—with the ability for Indian companies to connect their local bank accounts to Stripe and get paid out in rupees—we can help support even more businesses and more types of business models (such as local marketplaces) in the years to come,” Balaji stated.
The company said that the launch of its platform in India will enable it to offer new products, tailored for domestic firms. Over the coming few months, Stripe intends to add more subscribers to the beta to trial specific features.