PAKISTANIS' PROBLEMS WHILE CREATING A STRIPE ACCOUNT AND THEIR SOLUTIONS | A COMPLETE GUIDE
In Pakistan, there are only a few payment methods available. Stripe is one of the best payment methods, as it allows the sellers of almost 30 countries to get their payout easily. Still, unfortunately, Pakistan is not among those countries. Stripe has fantastic features like expanding geographically and reaching out for payment that also provides a streamlined onboarding for the sellers and the partners, the various payment options, and the use of alternative methods of payments.
The Mission Of Stripe
Stripe's mission is to increase the global GDP to a great opportunity for Pakistan's people. It also aims to take advantage of the best payment platform. But if it comes to a one-time payment, you can use some local payment gateways. At the same time, the business transaction is not that simple. Most business transactions or more than two individuals who are involved need a platform where they can serve all the business components on an urgent basis.
What are the requirements for creating an account on Stripe?
Stripe supports virtually different kinds of business models, including e.commerce and on-demand businesses. It also offers a unique option like payouts to third parties and recurrent transactions quickly. If you also intend to open an account with Stripe, you will be fulfilling the requirements discussed below.;
- Tax ID or EIN
The tax ID for the company in the US is required from you. The company details are helpful so that you have the information about the tax ID to stripe once you are intended to register yourself.
- Having a US Bank account
Stripe is asking its customers to give the details of their bank accounts that should be in the US. The bank accounts are connected to Stripe for smooth working, which is an inevitable part of the registration of the stripe account. But, being a US resident, you can easily activate your bank account. Otherwise, it isn't easy.
- Having the company in the US
The US-registered company requires the setup of a stripe account. Also, the company must also have an address and a phone number in the USA. But if you do not have your own company in the US, you will not be able to make an account. Unless you take help from platforms like VC Filing, where you can get a virtual phone number by paying some dollars. If you have a US mailing address or a virtual mailbox available by spending some dollars per month, the mailing address will be unique and different from another state of the USA.
Final VerdictStripe is also offering some excellent APIs that other payment platforms can't. It also gives you all the information and assistance regarding the bills, upgrades, downgrades, refunds, and your card details. Most importantly, if you are willing to do some business internationally, you must have a trustworthy payment platform. For instance, Stripe, to make your journey more fruitful.
So join now with VC Filing for professional guidance and the setup for your account. VC Filing will assist you in completing the requirements.