On Tuesday, digital payments giant Stripe announced the opening of an office in Dubai, marking its first expansion into the Middle East region.
Founded in 2010 by Irish brothers Patrick and John Collison, Stripe is used by more than 50 companies, each processing over $1 billion annually to receive payments and bill customers.
In a statement, Stripe said several companies are already using its services in the UAE, including online food ordering platform ChatFood and gym management software GloFox.
Stripe is entering the Middle East market in partnership with Dubai-based payments processor Network International.
Last month, Stripe’s value soared to $95 billion after it capitalized on a boom in e-commerce with a funding round.