There are not many options for payments available in Pakistan. The best payment method “stripe” allows its sellers of almost 30 countries to payout and unfortunately Pakistan is not among those countries. Stripe has versatile features like extending geographical reach for payment, providing streamlined onboarding for its sellers and partners, various payment options and use of alternative methods of payments.
The mission of stripe is to increase global GDP of the internet, so it is a great opportunity for Pakistani people to take advantage of this best payment platform.
When it comes to one-time payments then you can use some local payment gateway, but business transactions are not that simple. Mostly in business transactions more than two individuals are involved and they need a platform that can serve them on urgent basis and integrate all the components of business.
Requirements for creating stripe account
Stripe virtually supports different business models including e-commerce and on-demand businesses. It offers unique options like payout to the third parties and recurrent transactions easily. If you intend to open a stripe account then you will have to fulfill the requirements given below.
EIN or tax ID:
Tax ID of your company present in the US is required from you. The details of company are helpful in several processes so you have to give the information about tax ID to stripe once you intend to register yourself.
US Bank Account:
Stripe asks it’s customers to give details of their bank account that should be in the United States. The US bank account is connected to stripe for smooth working. It is an inevitable part of the process registration of stripe account. If you are a US resident then you can easily activate your own bank account but otherwise it will be difficult.
Company in the US:
A US registered company is required for the setup of stripe account and the company must have a physical address and a phone number in the US. If you don’t own a company in US then you will not be able to create a stripe account unless and until you take help from platforms like Ejad Plus.
- You can get virtual US phone number in just $10.
- US mailing address or a virtual mailbox is available in just $10 per month. This mailing address will be unique and from different states of US. As soon as your mail arrives it will be sent to you.
- The complete incorporation process of company setup is also managed by Ejad Plus.
Stripe offers awesome APIs which other payment gateways can’t. It gives you all information and assistance regarding recurrent bills, upgrades and downgrades, subscription cancellations and refunds along with card details etc. Most importantly, if you are willing to do some international business then you will have to connect with the most trustworthy payment gateway “stripe” to make your journey more fruitful. You can connect to Ejad plus for professional help regarding the setup of stripe account because it will assist you in completion of requirements and also in other processes.