Stripe is the payment gateway of choice for a number of startups. To expand is business further it has just come up with a revolutionary idea that could increase the influx of startups in the US. Stripe Atlas is a service that will allow any startup in any part of the world to incorporate it in the United States.
Stripe Atlas not only incorporates your internet startup in the US, it will also help you to set up a bank account and of course, start accepting payments through stripe.
Apart from setting up a company, a bank account and providing a payment gateway, it will also provide legal and tax guidance. It will be helpful given that the entrepreneurs using the platform won’t have any idea about US laws. The move has come in to aid startups that are functioning in remote parts of the world. It provides these startups with a platform to market their internet product to the world and the tools they need to do it.
The service that was launched on 24th Feb 2016 is an invite only to begin with. Developers and entrepreneurs can ‘request access’ to Stripe Atlas on their site. The service which will be free for the first 100 lucky users, will cost $500 for the rest. The services provided will be, as stated, setting up of a company, a bank account and your stripe account. The company is also partnering up with many incubators and services like Amazon Web Services (AWS) to provide $15,000 in free web hosting credits. Of course, Stripe will charge a standard fee for all the transactions that take through its payment gateway.
In terms of the time to set all these things up, Stripe Atlas website says, in most cases will take a week. That timeframe is pretty quick. For someone who has registered a startup anywhere in the world, it takes a week alone to understand the process. Stripe Atlas takes that headache away while providing you with a global audience to market your product.
Stripe Atlas appears to be an ingenious idea as of now. Not only will it help Stripe, it will give a further boost to the economy of the United States. It is expected that copy cats may come up sooner rather than later. For places like Singapore which is on top of the list in terms of ease of doing business will surely be having somebody thinking about doing something similar.