5 months ago
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Stripe, the global fintech giant, said on Friday that it will temporarily move to an invite-only model for new account sign-ups in India, “a tough decision” it is making as it navigates the country’s evolving regulatory landscape.
In a statement posted on its website, Stripe said that businesses in India will no longer be able to sign up for new accounts through the company’s website, and will instead need to request an invite. The startup, which competes with YC-backed Razorpay and Cashfree in India, will focus on supporting a select number of businesses, particularly those with a focus on international expansion.
“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.”
Stripe said it remains long-term committed to the Indian market, stating that it is working to build out the necessary infrastructure to support more users by the second half of 2025.
The move to an invite-only model allows the company to focus on serving a smaller number of customers while working towards solutions that will enable broader access in the future.
Businesses in India that were planning to use Stripe for payment processing will need to explore alternative options in the interim. Existing users will not be impacted, the startup said.
