Stripe expands its presence in Toronto

Rapid growth for Stripe between 2021 and 2023

Between 2021 and 2023, payment volume on Stripe from Canadian companies increased by over 50%. This growth is driven by thousands of Canadian businesses signing up for Stripe, as well as established users collaborating with Stripe to introduce new business models and increase their revenue streams. Shopify, a global ecommerce platform uses Stripe to facilitate Shopify Payments, Shopify Balance, and in-person transactions.

Officials from Shopify declared that they partnered with Stripe for nearly ten years, and they are happy that other Canadian businesses will benefit from Stripe’s expanding and long-term investment in Canada.

New products and services are being used

Stripe has introduced new products and features designed to assist Canadian businesses:

• Global expansion: with Stripe Payments, businesses can now sell to over 195 countries in 135 currencies through more than 100 payment methods. Already, more than half of Canadian businesses using Stripe engage in cross-border sales, supported by new features like Adaptive Pricing, which localises prices across 150 markets, allowing customers to pay in their local currency.

• Contactless payments: businesses can facilitate in-person payments with Tap to Pay on iPhone, which supports Interac Debit without the need for additional hardware.

• Seamless shopping: thanks to Amazon’s Just Walk Out technology, businesses can eliminate checkout lines, creating a better shopping experience at locations like Scotiabank Saddledome and Scotiabank Arena.

• Complex revenue models: Stripe Billing offers usage-based billing, assisting businesses to monitor their customers’ usage of products and services and bill them accordingly. Stripe Billing, alongside the payments suite, has been recognised as a leader by industry analysts.