Stripe upgrades Stripe Connect
Stripe, a financial infrastructure platform for businesses, has unveiled a set of upgrades to Stripe Connect.
Stripe Connect is used by software platforms like Shopify to embed payments and financial services. This provides businesses running on Shopify with access to Stripe products like Payments and Treasury, directly from their Shopify account.
Stripe has announced its biggest ever upgrades to Connect, now with 17 embedded components, including 10 for payments. These embedded components make it easy for platforms to integrate fully functional financial services into their website. For example, with the Stripe Capital embedded component, platforms can drop a prebuilt UI into their site and immediately start offering loans to their eligible customers, all powered by Stripe.
With the latest upgrades to Connect, businesses can also now choose more precisely which capabilities they want to own and which to offload to Stripe—and change their choices as their business grows.
“Building our payments products with Stripe has meant a better user experience for our customers, lower churn, and higher adoption,” said Kady Srinivasan, CMO of Lightspeed, a commerce platform that uses Connect to enable businesses to sell online and in person.