Stripe, a digital payments firm headquartered in San Francisco, has kicked off its expansion into Asia by formally launching its service in Singapore.
Stripe’s service has been available in the Singapore in beta mode for about a year.
During its beta period, Stripe signed up several local startups.
“Between subscription companies like Tradegecko and Guavapass, on-demand platforms like Grab, e-commerce startups like Grain and Hipvan, and new kinds of marketplaces like Oddle, more than 50% of venture-backed companies in Singapore now use Stripe, the company said in its press release.
In addition, the payment startup also worked with global platforms like Shopify, Deliveroo, and Kickstarter to make their services available in Singapore.
It noted that the pricing is simple and predictable: 3.4% + S$0.50 per successful charge. Also, volume pricing is available for businesses at scale – for processing over S$50,000 a month.
The company, which is valued at $5bn after raising funds from Visa in 2015, has already launched its service in Europe and Australia.
It is expected that company may foray into Japan and Hong Kong markets after Singapore.