Stripe launches new bank transfer proposition

Tuesday 21 June 2022 12:32 CET | News

Stripe has launched a new bank transfer proposition in the UK and other markets, which aims to erase the operational pain of receiving and manually reconciling transfers for businesses.

Bank transfers are still one of the most common ways to send money today. According to Stripe, in Europe more than USD 4 trillion in bank transfers is processed each year.

But, according to Stripe, the current process is filled with friction – pointing to businesses losing hundreds of hours on confirming transfers, reconciliation and accounting, and refunds.

Stripe’s new offering, already launched in Japan, is now being rolled out in the UK, EU, and Mexico.

The offering automates all reconciliation and creates a simplified refund process.

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Keywords: banks, bank transfer, product launch, digitalisation, digital banking
Categories: Banking & Fintech
Companies: Stripe
Countries: United Kingdom
This article is part of category

Banking & Fintech


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