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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