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April 19, 2021

Stripe launches issuing service in 20 European countries

By Shalini mani

Stripe has launched Stripe Issuing service in 20 countries across Europe, enabling its global user base to start issuing cards in the continent.

The service has now been launched in Estonia, Finland, Austria, Belgium, Cyprus, Latvia, Lithuania, Luxembourg, Malta, France, Germany, Greece, Ireland, Italy, the Netherlands, Slovenia, Portugal, Slovakia, Spain, and the UK.

The service enables businesses to create, manage, and distribute virtual and physical payment cards.

According to the company, cards created on Stripe Issuing can be programmatically controlled and managed via its Issuing API.

The Stripe Issuing users can set dynamic spending limits, create blocked merchant categories and advanced combinations of rules for the cards, in addition to permitting live authorisations for transactions.

Stripe Issuing is designed to integrate with Stripe’s suite of products, allowing users to manage card issuing programmes as well as payments, fraud prevention, analytics, invoices, and recurring billing.

Businesses will be able to design their own branded cards in the Stripe Dashboard, while Stripe will oversee card production, fulfilment, and shipping.

While Virtual cards will be generated instantly, and physical cards are shipped in two business days.

Stripe EMEA business lead Matt Henderson noted that it used to take months to create and ship new cards in Europe.

Henderson said: “With Stripe Issuing, it now takes two days. We’ve been astonished by the breadth of use cases businesses in the US have found for our Issuing infrastructure, and can’t wait to see what our European users build with it.”

Last April, Stripe launched Stripe Issuing for its US clients as part of updates to its core payments platform.

The company claims that payment firms including Klarna, Ramp, and Flexshopper utilises its issuing services for their existing card-issuing programmes in the US.

The company said that Emburse Caption will leverage Issuing to enable Spanish and Italian businesses to offer expense payment cards to employees programmed with custom spend controls.

The business travel and spend management company TripActions, which utilise the service to help US business control their spending, will expand the functionality to its European users.

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