Introduction
Stripe is a global technology company that builds economic infrastructure for the internet. Businesses of every size - from new startups to public companies - use our services to accept payments and manage their businesses online. Our goal is to promote equal economic opportunity and equip entrepreneurs from all over the globe to realize their business ideas.
At Stripe, we strive to always do the right thing in our business operations, including complying with applicable laws and maintaining the highest ethical standards.
Why do we need to make a statement?
We publish this statement in compliance with the UK Modern Slavery Act of 2015 to show our users how we prevent modern slavery, human trafficking, forced labour, and labour rights violations from taking place in our business and supply chains.
While Stripe takes similar steps globally, this statement applies to Stripe Payments UK Limited, which is authorised by the Financial Conduct Authority as an Electronic Money Institution (900461).
What is Modern Slavery?
Modern slavery encompasses all types of slavery, human trafficking, servitude and forced or compulsory labour across a vast number of industries. Modern slavery may affect individuals that are resident within or outside of the UK.
Our Commitment to Prevent Modern Slavery
Stripe is committed to acting ethically and with integrity in all our business relationships. We do not tolerate any form of modern slavery, and we have robust systems and controls to help prevent this activity from taking place in our business and supply chains.
Stripe's supply chains include:
- hardware and software, including computer equipment, software licences, verification vendors, and cloud-based software;
- data storage services; and
- professional services from our advisers, including law firms, consulting firms and accounting firms.
The majority of Stripe's suppliers are based in Europe and North America.
As an internet-based payment technology business, with the majority of our suppliers being software and professional service providers, Stripe operates in a sector that is considered relatively low risk for modern slavery and human trafficking.
To further mitigate this risk, Stripe conducts a thorough review of all new suppliers before we work with them. This due diligence involves reviews by Stripe's security, legal, finance, and procurement teams. Once reviewed, our suppliers contractually commit to us to comply with applicable laws in the performance of their obligations.
If Stripe establishes that modern slavery is taking place in our business or supply chains, we will terminate the relevant relationship, report the activity to law enforcement, and co-operate with any resulting investigation.
Training
At Stripe, all employees are required to complete an annual Financial Crimes training. This training informs all employees about the high-level red flags of financial crimes, including human trafficking, and provides clear escalation paths to ensure any suspected financial crimes issues are properly reviewed and investigated.
Stripe is committed to keeping current on global legal developments relating to human rights and modern slavery to continue operating responsibly and in compliance with the law. We will continue to monitor how we receive and provide services to ensure that we are effectively combatting the risk of modern slavery in our business.
This statement is made pursuant to section 54(1) of the UK Modern Slavery Act of 2015 and constitutes our modern slavery statement for the financial year ending 2020. This statement has been approved by Stripe Payments UK Limited's board of directors.
Stripe Payments UK Limited
Date: 12/07/2021