Stripe expands to UAE

Stripe has announced the official launch of its expansion to the United Arab Emirates (UAE).

The financial services and software company said that it is also opening a new UAE office in Dubai Internet City.

Businesses in the region will now be able to use Stripe to accept online payments, make payouts, mitigate fraud, and expand globally.

The move also means that companies already using Stripe in other locations can now expand their products and services to the UAE.

The company said that a number of UAE businesses have been part of Stripe’s pre-launch beta testing and are already using Stripe.

“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA business lead at Stripe. “Similarly, the pool of tech talent in the Middle East is growing very rapidly.

He added: “However, companies still face challenges when trying to accept payments, make payouts, and manage the financial side of internet businesses. Stripe removes these complexities so businesses can focus on what makes them special,” “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”

Last month Stripe closed a $600 million funding round which values the payments giant at $95 billion.

In March the business said it would use the funding to fuel its European operations, in particular its Dublin headquarters and support surging demand from enterprise heavyweights across Europe while expanding its global payments and treasury network.

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