Lemon Way, a French fintech, has rolled out an e-commerce payment solution across seven countries including France, Germany, Spain, Italy and Benelux in Europe as part of its strategy to compete with Stripe.
The company said that more than 1,000 e-commerce businesses from seven countries have joined the 11,000 businesses already served by Lemon Way.
The new payment system allows clients to receive their first payments in less than five minutes, claims Lemon Way.
Lemon Way is being helped by Google and Prestashop to catch up with Stripe in the Euro zone. Google will accept Lemon Way in its accelerator and offer new artificial intelligence solutions to optimise the onboarding campaigns.
Prestashop, a marketplace for e-commerce sites in Europe, will also promote the new payment solution.
Lemon Way has also joined hands with the banks BNP Paribas, CM CIC, Banco Sabadell and Barclays.
The company believes if the current rate of recruitment continues, 40,000 e-commerce sites should be equipped with the French payment solution by the end of 2017.