Stripe Launches in Canada 

Sept. 24, 2012

Stripe, a Silicon Valley online payment method that received some of its financial backing from PayPal co-founder Peter Thiel, announced late last week it has launched in Canada. Stripe said it had been testing the service in Canada this summer with companies including MetaLab, Shopify and Tarsnap.

In the U.S., Stripe offers businesses the ability to accept credit cards for online purchases at a flat rate of 2.9 percent plus 30 cents per transaction. In Canada, Stripe could simplify the process of setting up an online payment gateway, which reportedly is far more difficult than in the U.S., sometimes taking months. Stripe enables businesses to drop several lines of code onto their website at no charge and begin taking payments online. The company also pointed to its diverse staff as a contributing factor to international expansion.

“We grew up in countries from Honduras to Kenya, and a large part of why we’re so eager to build Stripe is to help those outside the U.S. to participate as first-class citizens in the Internet economy,” said Stripe’s Sheena Pakanati in a company blog post. “And so, to those who are not in the U.S. or Canada: we want Stripe to support businesses and individuals anywhere in the world, and the ‘international’ project we kicked off over a year ago won’t be finished until that’s the case. We’re already working on the next set of countries.”