MENA Star­tups Can Ac­cept Pay­ments World­wide with At­las

Arabnet - The Quarterly - - Industry Stories -

The in­ter­na­tional pay­ment tech­nol­ogy plat­form, Stripe, launched its global arm, At­las, en­abling en­trepreneurs and de­vel­op­ers any­where in the world to start a Us-based com­pany from their home coun­try. This means they can set up a US bank ac­count and start ac­cept­ing pay­ments to their apps and other plat­forms from any­where in the world. The ser­vice is cur­rently in an in­vite-only beta phase, so Stripe has part­nered with 70 in­cu­ba­tors, ac­cel­er­a­tors, and in­vestors world­wide who will re­fer star­tups that have growth po­ten­tial to the ser­vice. In Le­banon, Stripe chose the [email protected] ac­cel­er­a­tor as its lo­cal part­ner. At­las ad­dresses rev­enue-gen­er­at­ing star­tups that have ex­ist­ing prod­ucts and ser­vices, and are will­ing to ex­pand into in­ter­na­tional mar­kets and re­gions. They can es­tab­lish a com­pany in the city of Delaware, USA, for only $500, which in­cludes the cost of reg­is­ter­ing the com­pany, open­ing a Sil­i­con Val­ley bank ac­count, and pay­ing for le­gal and tax con­sul­tancy. Upon sign­ing up with At­las, star­tups ben­e­fit from a Stripe ac­count that they can im­me­di­ately use to ac­cept pay­ments from cus­tomers in 100+ cur­ren­cies. More­over, ev­ery startup re­ceives $15,000 in free credit from Ama­zon Web Ser­vices. Co-founded by Ir­ish brothers, John and Pa­trick Col­li­son, Stripe is val­ued at $5 bil­lion. The plat­form fa­cil­i­tates pay­ments for many big com­pa­nies in 24 coun­tries around the globe, in­clud­ing Kick­starter, and has sealed part­ner­ships with Face­book, Ap­ple, Twit­ter, and Pin­ter­est. Its back­ers in­clude Se­quoia Cap­i­tal, Paypal co­founders Peter Thiel and Max Levchin, and Visa.

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