Money Makers Mentor

Stripe Partners with Citi, Goldman Sachs to offer Banking As A Service to Merchants

Stripe, a payment processing company, announced last week that it plans to offer financial services to eCommerce businesses via Stripe Treasury. The services will be available in 2021 to eCommerce merchants who rely on the Stripe online payment processing infrastructure.

Stripe Treasury provides users APIs to embed financial services on their platform. The Stripe Treasury will partner with banks like Citigroup, Goldman Sachs and Barclays to offer bank accounts and debit cards to eCommerce merchants. 

Along with Stripe Treasury, the payment company unveiled its first banking customer; Shopify. The Canadian eCommerce company will provide Shopify Balance Accounts and Shopify Balance Card, powered by Evolve Bank, to its merchants. 

According to Stripe, it takes a week, on average, to…

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