Online transaction startup, Stripe, is open for beta testing in Malaysia

Online transaction startup, Stripe, is now open for beta testing in Malaysia, co-founder Patrick Collison, announced on Twitter.

Founded in 2010, the tech company provides transactional solutions like online payment, software and the required technology to help businesses accept and manage transactions online.

Malaysia is one of only six other countries that was added into a list of 23 nations served by the company currently. If anything, it is an indication of Malaysia’s increasing potential in doing business online.

Banking on globalisation

Co-founder John Collisson said in an interview with Bloomberg: “5% of global commerce takes place online today, the other 95% is offline”. Stripe is banking on businesses, big and small, becoming increasingly globalised to fuel its growth potential.

As more and more businesses go online, more and more transactions need to happen online. Stripe hopes it can make it easier for business to go online and transact in the global market, in return Stripe gets a cut of the increasing number of transactions, be it for payment or for other things like incorporating a business in another country.

Enabling businesses to go online

Beyond transactions, Stripe is looking at growing the 5% pie by looking into the whole online business ecosystem. The company publishes a quarterly magazine about software engineering, it acquired a forum of entrepreneurs called Indie Hackers and recently, the company has embarked in printing books about economics, technology and management via its own printing company, Stripe Press.

Malaysian businesses can get on the Stripe beta program here.

Watch a snippet of the Bloomberg interview here.

Amin Ashaari