The San Francisco-based company introduced Stripe Terminal, a new service for in-person payments.
The new solution follows the acquisition earlier this year of the start-up Index, which develops POS software enabling PIN pads to read a chip card in under a second.
Stripe latest payments solution is designed for fast-growing online businesses that sell products and services in-person as well as online. Digital-first brands like Warby Parker and Glossier are planning to use the new product for in-person payments, Stripe disclosed. Beyond consumer product businesses, Stripe is also targeting B2B software platforms whose own customers operate brick-and-mortar chains. Mindbody, which makes software for wellness businesses like yoga studios and spas, will be a customer of Stripe.
Stripe Terminal is aimed at allowing merchants to customise what shoppers see on the checkout screen. The omnichannel platform is designed to manage all checkout equipment from one online account. Stripe partnered with companies such as Verifone to sell checkout equipment compatible with its payment service.
Earlier in 2018, the company launched Stripe Issuing, a platform for creating, distributing, and managing physical and virtual cards via APIs.