Last month we wrote about the growing space of identity verification with the launch of Persona, which its founders have called “Stripe for identity verification.”
Not to be outdone, Stripe has just launched Stripe Identity. The new product lets businesses programmatically confirm the identity of global users. In other words, Stripe’s making it easier for makers to confirm their users are who they say they are.
Like its competitors, Stripe Identity will make identity verification, which is normally cumbersome and complex to build and execute, more accessible to businesses.
Stripe users get the benefit of having identity tools centralized among Stripe’s other core business operations so they don’t have to hop between payments, subscriptions, and verification. Verification can start with grabbing a link from your Stripe dashboard (i.e. no-code), or can scale to embedded verification using Stripe’s pre-built libraries and SDKs.
Stripe Identity rounds out a number of impressive expansions from the company recently:
Stripe Tax - Calculate and collect sales tax, VAT, and GST with one line of code
Stripe Payment Links - A no-code way to create payment pages in just a few clicks
Stripe Invoicing - Create and send a Stripe-hosted invoice in minutes, without code
Stripe Treasury - Embed financial services in your platform
That’s not including what they’ve been working on over the last twelve months.
Stripe Climate - Direct a fraction of your revenue toward initiatives that remove carbon
Stripe Billing Customer Portal - Let customers manage their subscriptions
This product growth was to be expected after Stripe closed a $600M fundraising round in March at a valuation of $95 billion. Co-founder John Collison explained that the company planned to use much of the raise to invest in Europe, telling TechCrunch:
“Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.”
Last week’s release of Stripe Tax was the perfect example of Stripe’s execution. Stripe Tax was built out of Stripe’s Dublin Engineering Hub, and together the products take the company one step closer to Collison’s goal of building a global payments and treasury network that works everywhere.
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