On Friday, Stripe, the world’s most valuable fintech startup, announced that it will temporarily shift to an invite-only model for new account sign-ups in India. This decision was described as challenging by the company as it adapts to the changing regulatory environment in the country.
According to a statement on its website, Stripe will no longer allow businesses in India to sign up for new accounts directly on the website. Instead, they will need to request an invite. The company, which competes with Cashfree and YC-backed Razorpay in India, will now focus on supporting a select number of businesses, especially those with international expansion plans.
“The regulatory environment in India is continuously evolving, and our objective is to provide the same level of service in India that we aim to provide globally,” Stripe mentioned in the statement. “For instance, allowing all new users to quickly launch their services with easy onboarding is a core feature of Stripe that we are unable to guarantee in India at the moment.”
Stripe did not specify the specific regulatory change that prompted this decision. The Reserve Bank of India, the country’s central bank, has introduced a series of strict policy alterations in the last couple of years that have affected various financial services companies and startups.
Since Stripe has limited business operations in India and many other Asian markets, this change is not expected to significantly impact its financial performance.
Despite the temporary adjustment, Stripe affirms its long-term commitment to the Indian market and is actively working on building the necessary infrastructure to support more users in India by the second half of 2025.
Businesses in India that had plans to use Stripe for payment processing will need to consider alternative solutions in the interim. Existing users of Stripe will not experience any disruptions, as per the company’s statement.
