#LendTech #BaaS / Stripe To Offer Banking As A Service To Merchants On Its Platform

On Thursday (Dec. 3), the company pulled the wraps off of Stripe Treasury. The new venture will work with Citigroup, Goldman Sachs, Barclays and other financial institutions (FIs) to offer debit cards, bank accounts and other products to the online merchants and vendors who rely on Stripe’s payments processing platform.

This is Stripe’s latest big initiative aimed at tapping into online business finance and lending, coming on the heels of its rollout of Stripe Capital, which enables online platforms to offer financing to their business customers.

[Goldman Sachs:] “Together, Stripe and Goldman Sachs are focused on relieving the frustrations internet businesses find in making banking work for them… The millions of ambitious, fast-growing businesses in the Stripe ecosystem will soon discover a dramatically improved end-to-end digital banking experience.”

https://www.pymnts.com/news/b2b-payments/2020/stripe-to-offer-banking-as-a-service-to-merchants-on-its-platform