FTC chairman sends Stripe a warning letter about potential debanking violations
The Federal Trade Commission chairman warned Stripe and three other payment companies that denying lawful customers service inconsistently with their terms or reasonable expectations could violate the FTC Act.
Action type
Warning letter from the FTC chairman
Legal framing
Potential violations related to debanking under Section 5 of the FTC Act
Scope caution
The letter raised concerns and possible consequences; it did not announce a factual finding, investigation result, or penalty
Stripe's 2025 annual update reported $1.9 trillion in volume, more than five million businesses, broad blue-chip adoption, and continued profitability.
Total volume
$1.9 trillion
Share of global GDP
1.6%
Businesses powered
5 million+ · Directly or through platforms
Dow Jones Industrial Average adoption
90%
Nasdaq 100 adoption
80%
Revenue suite run-rate target
$1 billion · Stripe said the suite was on track to reach this annual run rate in 2026
Stripe reports more than $817 billion in 2022 payment volume
Stripe's 2022 annual letter reported more than $817 billion in total volume, slower growth than 2021, and more than 100 companies each processing over $1 billion annually.
Total payment volume
$817 billion+
Year-over-year growth
26%
Users above $1 billion annual volume
100+
Growth
Total volume increased 26% from 2021
Large-user cohort
More than 100 companies processed over $1 billion each through Stripe during the year
Stripe reports more than $640 billion in 2021 payment volume
Stripe's 2021 annual letter reported more than $640 billion in payment volume and rapid daily growth in both new users and businesses reaching meaningful sales scale.
Total payment volume
$640 billion+
Year-over-year growth
60%
New companies per day
1,400
New nonprofits per day
100
Businesses crossing $1 million lifetime sales per day
100+
Growth
Payment volume increased 60% from 2020
Context
Stripe cautioned that pandemic-related behavioral shifts made the growth rate unlikely to repeat in 2022
Stripe closes all offices during the COVID-19 pandemic
After phasing in precautions and closing individual offices, Stripe closed every office and shifted employees and on-site contractors worldwide to working from home.
Initial precautions
Work-from-home guidance, suspended travel, and a pause on office visitors began in late February
Global closure
All Stripe offices were closed by the March 18 update
Vendor support
Stripe said it would continue paying vendors to preserve jobs for affected hourly workers
Stripe establishes Remote as its fifth engineering hub
Stripe formalized Remote as a coequal engineering hub alongside San Francisco, Seattle, Dublin, and Singapore, making distributed hiring part of its operating model.
Initial hiring goal
100+ remote engineers
First-year hires
100 · Stripe's one-year retrospective said it met the goal
Remote share after one year
22% · Share of Stripe's engineering population reported in May 2020
Operating model
Virtual hub treated as coequal with four physical engineering hubs
Initial geography
North America, beginning with the United States and Canada
Hiring goal
At least 100 remote engineers during the first year
The Central Bank of Ireland authorized Stripe Technology Europe as an electronic money institution for payment, money-remittance, issuing, acquiring, and account-information services.
Authorized entity
Stripe Technology Europe, Limited
Regulator
Central Bank of Ireland
Reference
C187865
Scope
Electronic money issuance and specified payment services; Stripe is not described as a bank
Stripe convened hundreds of users for its first Sessions conference, creating the annual event that became its main venue for coordinated product announcements.
Audience
Hundreds of Stripe users
Launch example
Stripe Sigma debuted at the conference
Historical role
Sessions later became Stripe's recurring annual user and product conference
Stripe obtains a California money transmitter license
Stripe Payments Company obtained a California money transmitter license, creating a regulated foundation for US money-movement products beyond ordinary card acquiring.
Licensed entity
Stripe Payments Company
Regulator
California Department of Business Oversight, now the Department of Financial Protection and Innovation
Date precision
Stripe's regulatory submission confirms 2016 but does not provide the license date