Stripe kicks off operation in Singapore and expands to Asia

Though it is just entering the Asian market, the service has been available in beta in Singapore for nearly one year. According to the company’s representatives, two-thirds of companies backed by venture capital firms in Singapore are using Stripe’s service.

Stripe is already present in Australia and it is currently running betas programs in Hong Kong and Japan, where it may have to adjust its expectations and makes changes to its business if it wants to truly tap the potential of Asia, according to TechCrunch.

Currently, Stripe has a program called Atlas that enables foreign companies register as US-based entities to use its services, but that is not going to shift consumer trends in emerging markets, which is what is challenging the online payment industry right now, the site continues.