Today, we’re thrilled to launch Managed Accounts for Stripe Connect to marketplaces based in the U.K., Ireland, Sweden, Denmark, Finland, and Norway.
Connect powers thousands of marketplaces around the world—companies like Kickstarter, Lyft, Shopify, and Deliveroo that are transforming the way we buy and sell today. With Managed Accounts, marketplaces like these can fully customize the experience for sellers or contractors that provide the services on their platform.
Using Managed Accounts, multi-sided marketplaces in Europe can now design lightweight setup flows, configure payment schedules, decide who pays fees, determine when information is collected, and more. Stripe gets out of the way so your sellers never have to leave your platform.
Since the launch of Managed Accounts in the U.S. and Canada last year, we’ve already helped millions of sellers get paid. We’ve worked over the past year to ensure that the experience of building, running, and scaling your marketplace is as easy as possible no matter where your business is based:
- Just like U.S. and Canadian platforms, marketplaces in Europe can now spin up Managed Accounts for sellers or contractors in any of the 25 countries that Stripe supports today without having to register a local business entity or establishing banking relationships in each region—a process that can take many months and reams of paperwork. In other words, you can instantly expand your business internationally to new countries without having to build payments infrastructure to meet local requirements.
- You’re also no longer required to acquire licenses or decipher per-country compliance intricacies by yourself. Stripe will help you verify seller identities (to comply with know-your-customer laws and prevent fraud), collect and verify your sellers’ banking information, track seller earnings, help sellers get paid on the right schedule (and in their preferred currency), help handle tax reporting requirements, and more.
Modern marketplaces are building more than just simple apps; they provide an end-to-end experience for both consumers as well as the drivers, restaurants, sellers, or contractors on their platform. We’re excited to see the experiences entrepreneurs in the U.K., Ireland, and the Nordics will build with Managed Accounts and how they’ll use Connect to scale internationally not only in Europe, but around the world.
If you’d like to learn more about how to integrate, we’ve put together a guide to get started. We’re also constantly adding improvements and support for more countries to Connect, so if you have questions or feedback, please drop us a line!