Payments startup Stripe teams up with Goldman, Citi to offer banking services

[BENGALURU] Fintech startup Stripe said on Thursday it has partnered Goldman Sachs Group and Citigroup, among others, to launch banking services.

The software, known as Stripe Treasury, embeds financial services using application programming interfaces (APIs) onto Stripe's platform, allowing its customers to send, receive and store funds, the company said.

The San Francisco-based firm said it is partnering Goldman Sachs and Evolve Bank & Trust to expand its services in the US, and partnering Citibank and Barclays for a more global reach.

Stripe added that Canadian e-commerce company Shopify has extended its partnership for Shopify Balance, a business account tailored for the use of independent businesses and entrepreneurs.

REUTERS