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Stripe plots Asian expansion

Stripe plots Asian expansion

Payments firm Stripe is reportedly planning to increase its presence in the Asian market after adding 200 people to its workforce in the region.

The US-based startup established its Asian headquarters in Singapore in September 2016 and signed up firms such as taxi-app Grab and Kickstarter.

More recently, Stripe provided online companies with access to its entire product stack in Malaysia in October 2019 and in early 2020 it launched an interbank transfers pilot in Indonesia.

According to Stripe's business head for Asia Pacific, Noah Pepper, who was speaking to Reuters, the company is looking to recruit engineers in Japan, China and Southeast Asia. 

A number of job postings in those countries have appeared on LinkedIn in recent weeks. 

In comments reported by Reuters, Pepper also conceded that Stripe will have to negotiate the varied regulatory landscape within the region if it is to compete with the various local players that operate in each country. Consequently the company is hopeing to recruit engineers who can help it to adapt its service to local rules and preferred payment methods. 

"[Asia Pacific] is not just the world’s fastest growing market, but it’s such a fragmented market ... with different laws, languages, currencies, and in some cases currency controls,” said Pepper.

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