Global technology company Stripe has teamed up with PayNet to launch its services in Malaysia.

Customers in the country can gain access to Stripe’s products and services to help launch and run their businesses. Its features include Stripe Connect for billings and recurring payments,  as well as Radar for fraud detection.

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John Collison, Co-founder and President of Stripe, said: “Even today, less than eight percent of commerce is online. This is largely because moving money on the internet remains complicated, cumbersome and slow.

“At Stripe, our goal is to remove these barriers and build the kind of infrastructure ambitious businesses need to run at internet speed and scale.”

With the new alliance, Stripe, which is worth $35bn, has made FPX available in beta, allowing customers to access payments via online bank transfers.

Piruze Sabuncu, Head of Southeast Asia Stripe, said: “We are extremely excited by the energy and determination of the Malaysian entrepreneurs we’ve been working with.  Technology should not be holding them back. Stripe aims to empower more businesses in Malaysia to export their creativity to the rest of the world.”

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Peter Schiesser, CEO at PayNet, said: “At PayNet we think a lot about creating safer, more reliable and efficient ways of paying online. We’re delighted to be partnering with Stripe with its FPX integration to bring the convenience and benefits of paying with FPX to more Malaysians. We look forward to continued collaboration to bring more of Malaysia’s economy online.”

Stripe expands to Malaysia

Earlier this year, Stripe tested its service in Malaysia and already works with e-commerce solutions platform EasyStore. It also works with Fashion and Retail platform FashionValet and food delivery service dahmakan.

Fadza Anuar, co-founder and CEO of FashionValet, said: “Stripe has been a game-changer for FashionValet. Instead of having to integrate with multiple providers for various payment methods, we can now build everything on Stripe. This saves both our engineering team and our finance team precious time and headcount resources. We’re looking forward to scaling with Stripe as we expand globally.”