Stripe Enables Online Purchases in 139 Currencies
Feb. 13, 2014
Stripe, a Silicon Valley-based technology company that enables online merchants to accept credit cards, on Tuesday said those merchants can now accept transactions in up to 139 currencies. Stripe is currently available to merchants in North America and several European countries, but the new capability will enable those merchants to accept orders from various countries in the consumer’s local currency.
Stripe will automatically convert the currency used to make a purchase to the merchant’s home currency and transfer the funds. Merchants that offer local payment methods to their cross-border customers will be charged a 2 percent fee for conversion by Stripe over market rates.
“You don’t need to do anything to enable this in your account—you can simply start passing the currencies throughout the API [by adding a few lines of code],” said Timothy Thairu, an engineer at Stripe, on the company’s blog. “The currency conversion rate is calculated in real-time and can be immediately checked by retrieving the relevant balance transaction via the API or just by navigating to the charge in the dashboard.”