Stripe scales back India’s ambitions amid regulatory changes

Global fintech giant Stripe said on Friday it will temporarily move to an “invite-only” model for registering new accounts in India, a “difficult decision” it is making as it navigates the country’s changing regulatory landscape.

In a statement posted on its website, Stripe said that businesses in India will no longer be able to create new accounts through the company’s website and will instead have to request an invitation. The startup, which competes with YC-backed Razorpay and Cashfree in India, will now focus on supporting a select number of companies, especially those focused on international expansion.

“The regulatory landscape in India is constantly evolving, and our goal is to provide the same experience in India that we aim to offer to all our users around the world,” Stripe said in a statement. “For example, enabling all new users to get up and running quickly and easily onboard is a core feature of Stripe that we can’t promise in India today.”

This change is unlikely to have a material impact on Stripe’s financial results as the startup has limited operations in the country and, therefore, in many Asian markets.

Stripe said it remains committed to the Indian market for the long term and is working to build the necessary infrastructure to support more users in the country by the second half of 2025.

According to the company, companies in India that were planning to use Stripe for payment processing will have to explore alternative options in the meantime. It has been stated that existing users will not be affected.

This is a developing story. Check for updates.