Payments Giant Stripe is moving to an invite-only model for new clients in India
Hey, Payments Fanatic!
Payments Giant Stripe is moving to an invite-only model for new clients in India as it builds up the infrastructure to deal with an evolving regulatory landscape.
The firm says it has made the "tough decision" for the temporary switch, telling businesses in India that they now need to request an invite to sign up for its services.
“The regulatory landscape in India continues to evolve, and our goal is to offer the same experience in India that we aspire to offer to all our users worldwide,” Stripe said in the statement.
“For example, enabling all new users to launch quickly with easy onboarding is a fundamental Stripe feature that we cannot promise in India today.”
The company names no specific regulations.
"We remain strongly committed to India, and are working to build out the infrastructure to be able to support more users by the second half of 2025," says a statement.
Cheers,
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🇮🇳 Payments Giant Stripe is moving to an invite-only model for new clients in India as it builds up the infrastructure to deal with an evolving regulatory landscape. The firm says it has made the "tough decision" for the temporary switch, telling businesses in India that they now need to request an invite to sign up for its services.
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GOLDEN NUGGET
What Types of Digital Wallets do we have?
The diagram below shows the Top 3 types of B2C digital wallets:
A digital wallet is software that securely stores users’ payment information.
Users can make electronic transactions online or in-store with digital wallets.
Depending on what information is stored in the digital wallet, we have 3 types of digital wallets.
► 𝗣𝗮𝘀𝘀-𝗧𝗵𝗿𝗼𝘂𝗴𝗵 𝗪𝗮𝗹𝗹𝗲𝘁
Pass-through wallets store tokenized card information and it doesn’t hold any funds.
When we initiate a payment transaction with a merchant, the token goes to the acquirer and then to the card scheme, just as credit cards do.
The card scheme decrypts the card information and sends it to the card issuer to verify.
In this process, only the card scheme and the issuer know about the account details.
Since the wallets don’t know the account details, pass-through wallets are considered secure and an extension of credit and debit cards.
► 𝗦𝘁𝗮𝗴𝗲𝗱 𝗪𝗮𝗹𝗹𝗲𝘁
Staged wallets store encrypted payment details but don’t send them anywhere.
The transaction is broken down into two stages: the funding stage and the payment stage.
At the funding stage, the money is transferred from various funding sources including bank account, debit/credit card, prepaid balance and other wallets.
At the payment stage, the wallet transfers funds to the merchant.
► 𝗦𝘁𝗼𝗿𝗲𝗱 𝗪𝗮𝗹𝗹𝗲𝘁
Stored wallets hold prepaid balance from various sources including bank accounts, cards, and peer-to-peer transfers.
Then in a payment transaction, the funds are transferred to the merchant.
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