Mr Alvarado says Stripe will invest in expanding its team in South-east Asia and in localising its offerings, which include payment acceptance, money movement and point-of-sale terminals.SOUTH-EAST Asia is experiencing a boom in its Internet economy, and here to tap that opportunity is Silicon Valley darling Stripe, which builds payments infrastructure for online businesses.
Mr Alvarado said the growth of the Internet economy in South-east Asia is due to several factors, such as Internet and mobile phone penetration."It's an area that has a lot of the ingredients - the underlying infrastructure, the consumer demand, and the talent to build new and different ways for people to sell online. And consumers have a preference for this, right? They want to buy on marketplaces, they want to use ride-sharing apps, and they want to use booking platforms.
Stripe chose Singapore as the location for its first Asia-Pacific engineering hub, launched in October last year. In the Republic, it works with fast-growing companies such as Grab, Carousell, honestbee and Chope.