Are you tired of your identity verification steps while making online payments? Or does it take too long to complete the transaction?
Well, Stripe has come up with a cool solution for this…
Stripe is expanding beyond online payments with the debut of a new tool that helps organizations’ security systems authenticate user identities, according to the report, which has yet to be confirmed by the company. Stripe introduced Stripe Identity on Monday, June 16, 2021, a new technology that enables identity verification as simple as payment acceptance for businesses. It is the first self-serving tool of its type, according to the startup, allowing any online business to start confirming the identities of its users in just a few minutes, with no coding necessary.
Stripe received offers totaling to an amount of more than $4 billion for “sizeable shares” in the firm from current owners, according to a Wall Street Journal story published late Monday. According to the media sources, Stripe has raised another $1 billion (€830 million) in funding. The business recently offered investors the opportunity to buy shares from early supporters and current workers. According to the newspaper, just approximately $1 billion of the bids were filled, implying that some shareholders were hesitant to sell stock amid speculation of a possible public offering later this year or in 2022. However, Capital Group, Sequoia Capital, Shopify, and Silver Lake, a buyout firm, were among those to make investments.
Stripe, which was started by the Limerick brothers Patrick and John Collison in 2010 and is now valued at $95 billion, becoming the most valuable private business in the Silicon Valley earlier this year after a fresh financing round in March, 2021. Stripe has witnessed a huge surge in demand for its services during the coronavirus pandemic, with over 200,000 businesses joining up since the outbreak began in March 2020.
Stripe’s identity architecture was built for the company’s use over the last decade, and it has already helped verify the identities of millions of merchants around the world as part of Stripe’s onboarding and anti-fraud checks. Delia Pawelke, head of the global risk strategy and onboarding policy, stated, “We know how much work it takes to establish a thorough and safe system for worldwide identification verification.”
“Through Stripe Identity, we’re opening up our sophisticated compliance infrastructure to all of our customers. Verifying someone’s identification is now as simple as receiving payment for an internet business.”
Stripe has introduced several new products this year, including the new tool. Stripe Tax is one of the products, and it was created at the company’s technical Centre in Dublin.So, what are you waiting for, go and just register yourself to Stripe to make online payments easier without any verification barriers?