Detailed and complete process of opening Stripe online payment gateway (Updated 2025)
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Updated on January 12 
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- 1. What is Stripe?
- 2. Stripe account features
- 3. Compare Stripe and PayPal accounts
- 4. Why should foreign companies (Singapore, Hong Kong, US, etc.) open a Stripe account?
- 5. Countries that support opening a Stripe account
- 6. Conditions for opening a Stripe account for foreign companies (Singapore, Hong Kong, USA, etc.)
- 7. Stripe account opening process for foreign companies (Singapore, Hong Kong, US, etc.)
- 8. Stripe, PayPal account rental service in Singapore
- 9. Frequently asked questions when opening a Stripe account for a foreign company (Singapore, Hong Kong, US, etc.)
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Online payment is becoming a popular choice for all consumers, especially for consumers through e-commerce channels, websites, and online stores.
Therefore, businesses need to provide simple and easy online payment methods so that consumers feel secure in paying quickly and conveniently, thereby increasing the purchase rate.
Among the current forms of online payment, Stripe is a smart payment gateway, familiar to consumers with the ability to secure, pay quickly and conveniently with just one click.
In this article, GLA will share detailed information about Stripe payment gateway, benefits of using Stripe account and Stripe payment gateway opening process for Singapore, Hong Kong, US, Offshore companies.
1. What is Stripe?
Stripe Account is a digital platform designed to facilitate online transactions, acting as an online payment gateway that seamlessly integrates with various e-commerce solutions.
Talking about popular electronic payment gateways today, PayPal accounts are quite familiar to businesses, with modern features that speed up global transactions.
But now, Stripe is gradually taking over the market share in the e-commerce world and has also been included in the list of the most professional online payment gateways in the world.
2. Stripe account features
Highlighted features of Stripe accounts for overseas companies (Singapore, Hong Kong, US, etc.) include:
- Accept payment with various payment methods Online with more than 100 payment methods, updated with the latest payment methods such as: Apple Pay, Visa card, Master Card, PayPal, Wechat, Paynow, etc.
- Pay with just one click: When customers visit the website, the e-commerce platform will make payment using a previously saved bank account or credit card within just 6 seconds. This improves the payment experience and increases conversion rates for businesses.
- Multiple payment currencies: Businesses can configure Stripe accounts with different currencies that Stripe supports, especially strong currencies such as: USD, SGD, HKD, etc. Multi-currency setup will help Businesses convert the desired currency of transaction without incurring currency conversion fees when transferring domestically or lower fees when transferring money internationally.
- Payment tools, transaction management: Stripe accounts are integrated with payment tracking and transaction management tools to help businesses optimize management, save on personnel costs, and manage payments and transactions.
3. Compare Stripe and PayPal accounts
| Stripe Account | PayPal Account | |
| Easy to use | Setting up an account is more complicated than PayPal because it requires integrating the payment gateway with the website. | Set up payments more simply. |
| Costs and fees | Simple "% + flat fee" fee schedule with no-hassle pricing for add-ons like recurring payments and invoice management; offers custom packages for larger businesses. | Pricing is complicated with different "% + fixed cost" fees for each transaction type; fees vary by service, adding features also costs money. |
| Recurring Payments | Recurring billing setup is included at no additional cost; users can access advanced payment tools like recurring invoices for a low additional fee per transaction. | PayPal merchants can set up recurring payments without paying an additional monthly fee, but the per-transaction fees are higher than Stripe. |
| Pay Later Options | Available through third-party integration with high transaction fees. | Includes PayPal payment option at no additional charge. |
| International payments | Simple, low cost add-on fees for international transactions and currency conversions. | Additional fees for international transactions and currency conversions, plus a base "% + fixed cost" fee with fixed costs that vary by country. |
| Customizability | Payment gateways are fully customizable at no additional cost. | Customizable payment gateways and on-site payment options require a Payments Pro ($30/month) or Payflow Pro ($25/month) account. |
| Supported currencies/transfer types | All major credit cards, 135+ international currencies, cryptocurrencies and ACH debit and credit transfers. Venmo transfers are not supported. | All major credit cards, 25 international currencies, Venmo transfers, crypto and ACH. |
| Brand trust and familiarity | Stripe doesn't have the name recognition of PayPal yet, but it has similar security and a growing market presence. | PayPal is a highly trusted payment processor with a high level of reliability and security. PayPal is a long-standing, reputable brand known for its security and safety. |
| Artificial intelligence | Use AI to enhance the checkout process and provide additional AI-powered fraud protection. | Announced the rollout of modest AI-powered features. |
Based on the comparison table above, businesses can choose to open Stripe or PayPal or both payment gateways to both optimize costs when using Stripe and improve customers' payment capabilities when choosing PayPal.
4. Why should foreign companies (Singapore, Hong Kong, US, etc.) open a Stripe account?
Foreign companies (Singapore, Hong Kong, US, etc.) should open a Stripe account because:
4.1. Cut costs
Stripe's transaction and payment fees are lower than PayPal's payment gateway, so businesses will save money on each transaction.
4.2. Enhance customer payment experience
Stripe's payment processing speed is only 6 seconds and with just one click, linked with a variety of payment methods: Apple Pay, Visa, Master Card, etc. will help customers increase their shopping experience and increase conversion rates.
4.3. Payment information security
Stripe allows businesses to place suitable payment methods on their website without storing customer payment details on their servers. This reduces the risk of losing data and information, ensuring high security.
4.4. Adjust the payment page
With other payment gateways, businesses are limited in their ability to customize their checkout page or have to pay high fees for customization. With Stripe, businesses can design and customize their checkout page to suit their business and user experience.
5. Countries that support opening a Stripe account
Stripe is currently available in nearly 50 countries around the world, including the US, Hong Kong, Singapore, Australia, France, Germany, etc.
Individuals or businesses who want to use this Stripe payment gateway are required to have a business in a Stripe-supported country such as Singapore, Hong Kong, USA, etc. and a bank account for the business in Singapore, Hong Kong, USA, etc.
Businesses can refer to the list of countries that support opening a Stripe account with GLA Exclusive Payment Gateway Comparison ToolGLA experts will advise and support businesses in choosing the right country to open a Stripe account to increase the highest success rate.
Accessing GLA's smart comparison tool, you will easily find databases related to: corporate income tax, value added tax, VAT, comparing conditions for choosing countries of establishment, payment gateways, traditional bank accounts, digital banks in foreign countries.
The data platform updated from government websites, banks, and official payment gateways helps businesses easily make strategic decisions on foreign investment and business operations.
6. Conditions for opening a Stripe account for foreign companies (Singapore, Hong Kong, USA, etc.)
GLA will provide detailed support to help you open a Stripe Business account for your company quickly and successfully.
Conditions for successfully opening a Stripe account for foreign companies (Singapore, Hong Kong, US, etc.) include:
- The corporate entity in the country where you want to open a Stripe account (For example, a business that wants to open Stripe Hong Kong must own a company incorporated in Hong Kong).
- Personal tax identification number in the country where the Stripe account is opened.
- Physical address of the company abroad.
- Telephone number in the country where the foreign company is established.
- Personal information representing the company, for example: passport or citizen identification card.
- Business website.
- Physical personal or corporate offshore bank account in the country of incorporation.
7. Stripe account opening process for foreign companies (Singapore, Hong Kong, US, etc.)
Establishing a foreign company supports opening a Stripe account. If the Business does not have a company in a country that supports opening a Stripe account, GLA will support the Business. Singapore company registration, USA, Hong Kong, etc. for Businesses to open Stripe accounts.
Business after foreign company formation in singapore, Mỹ, Hong Kong, etc. will need a foreign corporate bank account because:
- Requirements to open a Stripe account.
- You need to link your bank account to your Stripe account to withdraw money from Stripe to your bank account.
After successfully establishing a foreign company in Singapore, USA, Hong Kong, etc., a business will need a foreign corporate bank account because:
- Requirements to open a Stripe account.
- You need to link your bank account to your Stripe account to withdraw money from Stripe to your bank account.
GLA guides Businesses to access the Stripe website and perform each step of registering for a Stripe account, including:
- Create a Stripe account.
- Confirm email address.
- Fill in the foreign company information to open Stripe.
- Fill in your physical bank account information with your Stripe account.
- Account security and additional steps.
Link your Stripe account to a business bank account in the country where Stripe is available.
Verify that your Stripe account is legal in your country of incorporation
GLA's team of experts will integrate the Stripe payment gateway into the website so that businesses can easily receive payments from customers.
8. Stripe, PayPal account rental service in Singapore
Establishing a company abroad such as Singapore, Hong Kong, USA, etc. as well as opening a physical bank account in foreign countries such as Singapore, Hong Kong, USA, etc. will cost relatively large amounts of money, suitable for businesses that have had business activities abroad as well as have partners abroad.
Understanding that problem, GLA provides the service "Stripe account rental in Singapore" to help small and medium-sized companies and individuals selling online abroad receive payments from customers without having to open a company or open a bank account in Singapore.
GLA will provide its own independent Stripe account in Singapore for businesses to use and receive payments from customers. Businesses have full access to the account, view transaction details from customers as well as control the cash flow in the Stripe account.
GLA does not interfere with any transactions in the customer's Stripe account. GLA will assist in executing withdrawal orders to a bank account in Singapore and transfer the amount back to the customer (after deducting processing fees).
Similarly, for Businesses that need support in receiving money via PayPal, GLA also provides account rental services or provides account representative services in Singapore so that customers can Open Paypal Business Account in Singapore at reasonable cost.
In addition, if the business has high revenue and wants to open a Paypal Checkout account (Paypal Pro) in Singapore. GLA has a full package of services including: opening a Singapore company, supporting the opening of a Paypal Checkout account in Singapore. Businesses can refer to the article Open PayPal Pro account for Singapore company.
9. Frequently asked questions when opening a Stripe account for a foreign company (Singapore, Hong Kong, US, etc.)
1. What are the conditions for opening a Stripe account for foreign companies (Singapore, Hong Kong, US, etc.)?
Conditions for opening a Stripe account for foreign companies (Singapore, Hong Kong, US, etc.) include:
- Have foreign corporate entities in countries that support opening Stripe such as: Singapore, Hong Kong, USA, etc.
- Have a physical bank account in the country of company incorporation.
2. Which countries support opening a Stripe account?
Currently Stripe supports opening payment gateways in 50 countries including: Singapore, Hong Kong, USA, Australia, Germany, etc.
Businesses check the list of countries that support opening a Stripe account with GLA payment gateway comparison tool.
3. Does GLA have a Stripe account rental service?
Yes, GLA offers standalone Stripe account rental services in Singapore for Businesses.
- Businesses can use Stripe accounts and receive payments from customers.
- GLA does not interfere with any transactions in a customer's Stripe account.
- GLA facilitates withdrawals to bank accounts in Singapore and transfers the funds back to the client (minus processing fees).
4. When should a business rent a Stripe account?
Businesses should rent a Stripe account instead of opening a Stripe account if they are small and medium-sized companies, individuals selling online abroad to receive payments from customers without having to open a company or open a bank account in Singapore.
Highlights- Stripe payment gateway is a popular, secure and suitable online payment method for online businesses and E-Commerce.
- GLA supports businesses in opening a Stripe payment gateway in 6 steps, from establishing a foreign company to documents, procedures for opening and integrating the Stripe payment gateway onto the website.
- The procedure and cost of opening a Stripe payment gateway is quite expensive for some businesses. GLA provides a Stripe account rental service that ensures safety and security for businesses to use completely independently.
- To know which payment gateway is best for you, check out this article: Comparison between PayPal and Stripe in detail, easy to understand.
This article was published by GLA on 20/05/2018. Copyright and accompanying content are intellectual property of GLA. All rights reserved.
The guidance and content are for general information only and are not intended to provide specific guidance and advice on accounting, tax, legal or other professional advice. Readers should consult professional advisors on specific issues.
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