Stripe Terminal Means New Options in Mobile Payments

For online businesses, or similar platforms, getting paid in the real world can be something of a challenge. It’s not quite as easy as a physical transaction—just fork over a few pieces of cloth-like paper—and that can really get in the way of some sales. Now, Stripe has brought out the new Stripe Terminal system, which allows those online businesses to get out in the real world and make some sales that way as well.

Stripe Terminal is a mobile point of sale (mPOS) system that combines a set of software development kits (SDKs) and application programming interfaces (APIs) to produce a complete checkout experience over not only web apps, but also mobile apps as well.

Stripe hardware partners BBPOS and Verifone’s lines of card readers can work with the system, and it’s ready for both Europay / Mastercard / Visa (EMV) and contactless payment methods like Apple Pay and Samsung Pay out of the box, reports note. Already, some businesses like Glossier and Warby Parker are using Stripe Terminal to drive both in-store and online payments.

Stripe’s president and co-founder John Collison noted “The question is: can we make the offline world as simple as the online world? As a software developer, you should be able to set up payments once, and have it work everywhere you need it to — on your website, in your app, in person, globally. With Stripe Terminal, we’re introducing just that: a way for internet-first retailers and SaaS companies to leapfrog legacy retailers in building highly customized payments experiences for in-store purchases that match what they’ve built online.”

It’s hard to find fault with a tool that makes it easier to shop and take payments; it works great for businesses and thus encourages expansion, which makes more goods and services available to the consumer. This also sparks competition in local areas and helps keep prices down overall as well as encourages innovation to maintain current pricing levels.

Stripe’s new payment platform should bring a lot of value along with it, and in the end, give us all a little extra value for our shopping dollar. Businesses, meanwhile, should be happy about potentially expanded markets, and that’s likely to enrich Stripe itself as businesses take advantage of the new platform.