In August this year, Stripe announced announced Financial Times Online payments group Stripe poaches GM's finance chief Read more that it had hired Dhivya Suryadevara as its new chief financial officer after an 18-month search. Suryadevara came from American automotive giant General Motors. It was a big hire, but by no means isolated. Suryadevara is one of 400 new employees that will join the San Francisco-headquartered online payments facilitator this year.
Stripe’s slow and steady approach to Southeast Asia’s payments race
The US$36 billion online payments facilitator has only launched in two Southeast Asian markets since 2016. It’s a tough, fragmented region to penetrate, but Stripe is in no hurry
The San Francisco-headquartered company is live in more than 40 countries in the Americas, Europe, and Asia-Pacific
Its presence in Southeast Asia is, however, limited to Singapore and Malaysia. It led the Series A round of Filipino startup PayMongo recently
Stripe’s global template doesn’t work in Southeast Asia’s widely fragmented regulatory and payments culture
Stripe will find it especially hard to compete in the enterprise segment. But it has a bigger strategy beyond payments