Stripe, the world’s most valuable fintech startup, said on Friday it will temporarily switch to an invitation-only model for new account signups in India, calling the move a “tough decision” as it navigates the country’s evolving regulatory landscape.
In a statement posted on her website, Stripe said businesses in India will no longer be able to sign up for new accounts through the company’s website and will instead have to request an invitation. The startup, which competes with Cashfree and YC-backed Razorpay in the country, will now focus on supporting a select number of businesses, particularly those focused on international expansion.
“The regulatory landscape in India continues to evolve and our goal is to deliver the same experience in India that we aspire to deliver to all our users globally,” Stripe said in the statement. “For example, being able to get all new users up and running quickly with easy onboarding is a fundamental Stripe feature that we can’t promise in India today.”
Stripe did not specify which regulatory change affected the company. The Reserve Bank of India, the country’s central bank, has introduced a series of stringent policy changes over the past two years that have affected several financial services firms and startups.
The change is unlikely to have a material impact on Stripe’s bottom line, given that the startup has limited operations in India and thus 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.
Businesses in India that were planning to use Stripe for payment processing should explore alternatives in the interim. Existing users will not be affected, Stripe said.
