Payments platform Stripe announced on Monday it has launched its services in Malaysia. Stripe reported that businesses throughout the country may now easily accept and manage payments, as well as have access to the full Stripe stack, which includes Billing, Connect, Radar and Sigma.
“More than 80 percent of Malaysians already access the internet and as many as two-thirds of them do so via their smartphones. Despite the continued growth in connectivity, the country’s internet economy remains a small fraction of the overall GDP. With today’s launch, we want to help thousands more entrepreneurs and companies in Malaysia grow and scale their online businesses domestically and internationally.”
Stripe also revealed that since its beta launch earlier this year, it has been able to partner with several Malaysian companies to lead its payment charge. This includes e-commerce startups like FashionValet and Flower Chimp who serve customers around the region, companies with innovative new business models like dahmakan and RAGE Coffee, along with platforms and marketplaces like SOCAR and Easystore. Stripe went on to add:
“Through the feedback of these early partners and hundreds of others across the country, we’ve shaped our products to meet the local needs of Malaysian businesses.”