Stripe Release Notes

SAN FRANCISCO and DUBLIN–Stripe, the programmable financial services company, today announced it is helping bring a new checkout experience to Facebook. It enables buyers to purchase products from businesses like Fanatics and Quince in just one click, whether from a business’ website or within the app after clicking on an ad.

Businesses can opt into selling via ads in Facebook through a toggle in the Stripe Dashboard, and link their Meta ads account. Once enabled, when a buyer sees an ad on Facebook and taps the “Buy now” button, Meta surfaces a native checkout powered by Stripe. The experience uses a buyer’s saved credentials from their Meta wallet. The Agentic Commerce Protocol underpins this new purchasing flow. In the future, businesses will be able to enable a similar purchasing flow across Meta surfaces, including Instagram ads.

“At Fanatics, we’re obsessed with the fan experience, which means meeting fans wherever they are and making it easy to shop across their digital journey. Agentic AI is opening up new ways for us to do that. With Stripe’s Agentic Commerce Suite powering checkout within Meta’s platforms, fans can move from discovery to purchase in just a few taps, unlocking faster, more seamless ways to shop the gear they love,” said Sashanka Vishnuvajhala, SVP of technology at Fanatics.

“At Quince, we’re focused on making it easier for customers to shop with us wherever they are. Stripe’s Agentic Commerce Suite allows us to reach customers across emerging AI-powered platforms through a single integration, while keeping the experience seamless,” said Steve Neola, VP of product at Quince.

“Reducing the steps between discovery and purchase is great for both consumers and businesses. We’re thrilled to partner with Meta to bring a new checkout experience to Facebook, powered by Stripe’s infrastructure for commerce in the AI era,” said Kevin Miller, head of payments at Stripe.

Original source Report a problem

Earlier this month, we analyzed hundreds of millions of transactions across Stripe to identify first-party fraud trends. One of the biggest findings: free trial abuse is rapidly accelerating. From November 2025 to February 2026, our models detected 6.2x more abusive free trials across Stripe’s network.

Free trial abuse isn’t new, but users are increasingly targeting AI companies and driving much of the increase we’re seeing today. These businesses run on expensive compute resources and rely on free trials to acquire customers, making them a target for abuse.

Bad actors have become as sophisticated at stealing compute as they have money, cycling through trials or signing up with invalid payment methods without ever converting to paid subscriptions. This puts AI companies at risk of losing hundreds of thousands of dollars. AI startups are particularly impacted: those that offer free trials with self-serve signups and direct API access see 10x more attempted abuse than enterprise AI companies.

However, these fraud patterns aren’t limited to just one industry. We’re seeing similar free trial abuse across SaaS platforms, marketplaces, and other businesses that offer free trials.

Helping prevent free trial abuse in one click

Stripe Radar, our AI-powered fraud tool, now helps prevent free trial abuse with just one click. When enabled, Radar predicts the presence of abusive behavior that violates common trial terms, such as repeated trial signup or missed cancellations, with 90% accuracy. We also introduced a new analytics page that shows all high-risk payments that are blocked. For businesses that have not yet enabled the control, the analytics page shows which payments would have been blocked.

Our free trial abuse solution is powered by a new AI model trained on payment instrument (such as cards), device, and payment history across the entire Stripe ecosystem. For example, we can see if a certain card has been used on converted free trials before, and whether that card has led to a successful or failed charge. We have an industry-leading understanding of bank identification number (BIN) ranges, which helps us identify virtual card brands, and we know if email domains are new or temporary. This information helps us detect high-risk patterns including suspicious session timing and card characteristics that correlate with nonpayment.

AI companies such as Cursor are already using Radar to prevent free trial abuse. By identifying fraudulent actors at signup, the Cursor team can block high-risk trials before bad actors drive up their compute costs.

In the first 2 months, across 4 high-growth AI businesses, we blocked more than 550,000 free trials with a high risk of abuse, preventing an estimated $4.4 million in downstream losses from compute costs.

Identifying first-party fraud for all industries

Our free trial abuse solution is available to all businesses, making Radar more effective at identifying and blocking first-party fraud regardless of your industry or business model.

If you are interested in using our free trial abuse control, email us at [email protected] for early access. To hear more about how Radar is adapting to additional fraud types, join us at Stripe Sessions.

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Overview

Subscription businesses are more global than ever, driven in large part by the growth of AI companies. But as they expand into more markets, setting the right price in the right currency is still incredibly complex.

Localizing even a one-time purchase is difficult: because exchange rates move, keeping prices localized requires businesses to absorb foreign exchange (FX) risk, pay conversion fees, and continually manage price lists across currencies, while also taking on the ongoing finance and accounting work of adjusting, reconciling, and reporting on those changes over time.

Subscriptions add another layer of complexity. Localizing a subscription means keeping pricing predictable across every billing cycle, even as exchange rates fluctuate. Consistency is especially important for recurring purchases, where small, unexpected changes can cause a customer to cancel. Renewals are also more likely to fail when the charge is processed cross-border rather than in a local currency. In 2025, 80% of subscription transactions were still priced in the business’s default currency.

To address these challenges, Adaptive Pricing for subscriptions is now available as part of the Optimized Checkout Suite, so businesses can automatically present prices in a customer’s local currency while Stripe handles the currency conversion and the operational work behind it. Adaptive Pricing supports both subscription signups and subsequent renewals and includes a stability buffer that helps keep renewal amounts consistent across billing cycles, despite changes in exchange rates. For example, a customer who signs up at R$49.60/month in Brazil continues to see R$49.60 each month, instead of a different amount every time their bank converts from USD.

If rates move significantly, renewal amounts for that billing cycle may be adjusted to reflect the latest exchange rate—similar to the experience customers have today with their card issuers.

Measuring the impact of Adaptive Pricing on subscriptions

To understand how localized pricing affects subscription performance, we analyzed 1.5 million subscription checkout sessions across businesses in our private preview, comparing sessions that offered Adaptive Pricing with a 1% randomized holdback group. We evaluated both session-level outcomes, which capture the total value generated per checkout session, and subscription-level outcomes, which capture the total value of the subscription over time, including the initial transaction and renewals.

We analyzed the impact of Adaptive Pricing at signup and through the first three months:

At signup

• Conversion rate
• Authorization rate

Over time

• Subscription duration per session
• Subscription lifetime value (LTV) per session

Adaptive Pricing improves subscription signup performance

At signup, offering Adaptive Pricing increased conversion by 4.7% on average and authorization by 1.9% on average across sessions. In practice, that means more customers made it to payment, and more of those payments were approved—together increasing the number of successful subscription signups.

Those gains also carried through to downstream outcomes, including a 5.4% increase in LTV per session on average. Results varied across businesses, with some seeing increases of more than 30%. Runway, for example, saw a 14% increase in LTV per session, and subscriptions using Adaptive Pricing generated 17.7% more LTV per subscription.

People are more likely to complete a purchase when they see prices in a currency they immediately recognize and understand, without needing to mentally convert the total cost. Localized pricing can make subscriptions feel more transparent, since customers are committing to an ongoing charge rather than a one-time payment.

Charging in local currency also improves payment performance. Cross-border transactions are more likely to be declined, so presenting and charging in a customer’s local currency can increase the likelihood that the payment is approved. In the sessions we analyzed, offering Adaptive Pricing increased authorization rates by 1.9%, helping more subscription purchases go through at signup.

Taken together, these results show that Adaptive Pricing helps convert more checkout sessions into paying subscriptions, leading to more subscription LTV per session.

Higher signup conversion can translate into more value over time

In addition to the stronger signup performance, customers who paid in their local currency consistently showed higher retention than those who paid in a business’s default currency. This suggests that localized pricing can support continued renewals, beyond the initial signup.

That has implications for customer lifetime value. When more customers start subscriptions—and more of those subscriptions remain active, as successful renewals add up—the value of each subscriber grows. Even modest improvements in conversion and payment success can increase subscriber value over time.

Scale subscriptions globally with localized pricing

Businesses that don’t localize prices are likely leaving revenue behind. Our analysis shows that Adaptive Pricing helps subscription businesses capture more of that revenue by showing prices in a customer’s local currency, increasing conversion, improving authorization at signup, and driving more value from every checkout session.

It also means businesses don’t need to build and maintain their own FX infrastructure, localized price lists, and renewal logic across currencies. More than 500,000 businesses, including 16,000+ subscription companies like Cursor, Perplexity, and Runway, already use Adaptive Pricing to offer subscription pricing in local currencies to customers worldwide.

To learn more about Adaptive Pricing for subscriptions, read our docs or get in touch.

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Machine Payments Protocol

AI is evolving from question-and-answer chatbots to autonomous agents that can make comprehensive plans, execute actions, and evaluate outcomes. We believe agents will become an integral part of the internet economy, and they need the ability to transact with businesses and one another.

However, the tools of the current financial system were built for humans, so agents struggle to use them. Making a purchase today can require an agent to create an account, navigate a pricing page, choose between subscription tiers, enter payment details, and set up billing—steps that often require human intervention.

To help eliminate these challenges, we’re launching the
Machine Payments Protocol
(MPP), an open standard, internet-native way for agents to pay—co-authored by
Tempo
and Stripe. MPP provides a specification for agents and services to coordinate payments programmatically, enabling microtransactions, recurring payments, and more.

Stripe users can
accept payments over MPP
in a few lines of code using our PaymentIntents API. Businesses can then accept payments directly from agents, in stablecoins as well as fiat with cards and buy now, pay later payment methods via
Shared Payment Tokens
(SPTs).

MPP is already powering new agentic business models on Stripe. Browserbase, a browser infrastructure provider, now lets agents spin up headless browsers and pay per session. PostalForm helps agents pay to print and send physical mail. Prospect Butcher Co. lets agents order sandwiches for human pickup or delivery to anywhere in New York City. And agents can now programmatically contribute to
Stripe Climate
.

“Parallel is built for a world where agents are the primary users of the web. We integrated machine payments with Stripe in just a few lines of code, and now agents can autonomously pay per API call for web access. This allows us to reach any agent developer in the world on the same Stripe stack we already run on,” said Parag Agrawal, founder of Parallel Web Systems.

How MPP works

An agent can request a resource from a service, API, Model Context Protocol (MCP), or any HTTP addressable endpoint, and the service responds with a payment request. The agent authorizes the payment, and the resource is delivered to the agent.

For Stripe businesses, these payments appear in the Stripe API and Dashboard like any other transaction; the funds settle into a business’s existing balance, in their default currency, and on their standard payout schedule. The same Stripe infrastructure businesses rely on for human payments can work for agents, including tax calculation, fraud protection, reporting, accounting integrations, and refunds.

Building for the agent economy

Agents represent an entirely new category of users to build for—and increasingly, sell to. Stripe is building a broad set of agentic financial infrastructure to enable these important new patterns, via our
Agentic Commerce Suite
,
Agentic Commerce Protocol
(ACP),
MCP integrations
, and payment support for both MPP and x402.

To get started with MPP using Stripe, read our
docs
and
sign up for early access
.

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Agentic Commerce Protocol

A future where we buy with AI agents feels inevitable. Making it actually work is another story. The moment agents meet live product catalogs, inventory, fraud systems, and customer support queues, sellers quickly run into a long list of real-world edge cases to solve for.

Over the past six months, we launched the
Agentic Commerce Protocol
(ACP), an open checkout specification that lets buyers, AI agents, and sellers transact through APIs; introduced a complete agentic solution with the
Agentic Commerce Suite
; integrated businesses such as Etsy and URBN; and powered AI shopping experiences across agents. That’s given us an insider’s view into what matters in production, from the unglamorous integration work to the failure modes we’ve seen early adopters grapple with.

These lessons from the first generation of agentic commerce are meant to help sellers decide what to tackle first, avoid common bottlenecks, and be proactive about what’s coming.

Your product catalog is the entry point to agents, but different AI agents want your data in different formats. One needs an SFTP file drop. Another wants a custom API integration. A third has its own feed spec entirely. We’ve seen brands reformat the same product catalog in six different ways to get listed across multiple AI agents. It creates an ongoing maintenance burden that’s a drag on time and resources.

We’ve heard frustration from sellers about having to build (and rebuild) custom integrations for every agent. It’s why we designed the Agentic Commerce Suite: to prevent catalog fragmentation and support the full transaction lifecycle, from discovery to checkout. Upload your product catalog data to Stripe, and we syndicate it across supported agents. No duplicate work or reformatting required.

In practice, getting “ingestion-ready” product data is what determines whether you show up reliably across agent surfaces.

Formatting your catalog is the starting point. Sellers are also increasingly focused on avoiding data lag. When a potential customer is looking at a specific product in an agentic channel, the agent needs to verify it’s in stock right now, not 15 minutes ago. One platform recently asked us if inventory verification happens down to the millisecond, underscoring how close to real time agents must confirm availability before showing customers a checkout option.

This gets even more complicated when you add variants to the mix, which are difficult to format in a way that agents can reliably understand. Take a shirt where the shopper can choose a size, a color, and even add custom embroidery. Or consider a sneaker in 14 different colorways, each with its own size availability. In cases like these, agents will need real-time checks to confirm that a specific item or combination is actually in stock, or to know when to prompt the customer with alternative options.

We worked with partners like OpenAI to stress-test the ACP against market complexity. With your Stripe-hosted ACP endpoint (via the Agentic Commerce Suite), you can share availability with AI agents in the checkout API call. As agentic commerce scales, real-time systems will be key for customer trust and brand reputation.

Since we codeveloped ACP with OpenAI in September 2025, we’ve shipped four releases and added
payment handlers
,
scoped tokens
,
extensions
(starting with
discounts
), built-in buyer auth, and native
MCP transport
. That protocol work is important, but sellers can’t afford to rebuild their stack every time a protocol changes. We built the Agentic Commerce Suite as a protocol-agnostic commerce layer that works across standards, including Google’s UCP, so sellers don’t have to bet their roadmap on any single spec.

The businesses we talk to are wary of building zombie integrations: something they ship for a specific AI agent that becomes obsolete six months later after a strategic pivot. Unless you want to staff a team dedicated to tracking protocol changes, you need a partner that can absorb that volatility. Integrate with Stripe once, and we’ll keep you compatible across agents as protocols evolve.

One key link between agents and existing payment rails is the token layer. To enable agentic transactions, the Agentic Commerce Suite handles and processes
Shared Payment Tokens
(SPTs), a payment primitive built for agentic commerce that allows agents to initiate payments with a buyer’s permission and preferred payment method, without exposing credentials. For many retailers, especially large enterprises, this token layer is where Stripe adds particular value. They need infrastructure that makes agentic transactions possible in the first place: secure, scoped tokens that let agents transact on behalf of buyers.

But agentic transactions aren’t only about the payment. There are multiple steps that have to work correctly in the flow: catalog discovery, checkout state management, shipping, and post-sale details such as returns and refunds. Stripe has a part in all of them.

We’re playing an open source role by bringing a protocol into the world alongside OpenAI. But we’re also building the business layer on top, providing fraud tools, onboarding of businesses, catalog management, and more, so businesses can support agent-driven commerce end to end, not just at the moment of payment.

One of the most common questions we hear from sellers is about whether we’re seeing an uptick in fraud as agentic commerce grows in volume. The answer is reassuring: since launching the Agentic Commerce Suite with major retailers like Coach, Kate Spade, and Ashley Furniture, fraud rates have been near zero.

Traditional fraud detection relies on signals tuned to human traffic: everything from browser fingerprinting and mouse movements to device battery level and window size. Those signals vanish in an agentic world where there’s no human buyer on the frontend. Instead, we leverage the density of the Stripe network. Even if an agentic purchase is “new” to a given business, the end customer and their payment method likely aren’t new to Stripe, which gives an immediate source of history and risk context.

By using SPTs (described above), Stripe Radar can apply the same scrutiny to agentic transactions as it does to direct checkout flows, even when authorization happens off-Stripe. The result is enterprise-grade fraud protection that works without needing weeks of seller-specific data history.

Don’t flip the switch on your entire catalog. One approach we’ve seen work is to start with a focused set of SKUs you believe will convert, so you can measure performance and watch how the channel actually behaves. When starting out, stick to straightforward products that ship directly to the buyer’s home (nothing that requires installation or complex fulfillment coordination) as the frontend user experience develops.

URBN, the parent company of Anthropologie, Free People, and Urban Outfitters, sells everything from plants to custom furniture. When launching agentic commerce, the brand focused on a subset of its most popular products (dresses and denim) that would provide value early.

For sellers, the early phase of agentic commerce means being strategic about which SKUs, payment methods, and fulfillment options you enable first. Think of it as gathering data so you can scale intelligently. The good news is that the scope of what’s possible is expanding quickly. In time, agents will enable new buying experiences beyond single-item, single-business carts. Starting small positions sellers to take advantage of those capabilities as they go live.

Early retail happened in store. First-wave ecommerce happened on your site. Mobile maintains your brand’s look and feel. Agentic commerce shifts buying intent onto AI surfaces. That changes how sellers need to think about discovery, brand control, dispute resolution, and trust.

It also demands a strategic reframe. Agents often sit between the seller and the customer; they’re helping people discover products and decide where to buy. “Showing up” starts to look less like launching a new channel and more like work you already do for SEO and performance marketing: making sure you’re easy to find and choose. Commerce has always been about meeting customers where they are. It’s the “where” (and who controls it) that’s shifting.

Visibility isn’t the only challenge. Once an agent is in the loop, the messy parts of commerce don’t go away, but they pop up in different places. If an agent confirms an order but a legacy backend rejects it after a fraud check, how do you notify the customer? If a customer returns to an AI surface and says, “Cancel my order,” does the agent reliably route that request to the seller? We’re working with sellers and our AI partners to anticipate these issues and build solutions proactively.

The logged-in state is the holy grail for sellers. It allows them to recognize customers across sessions and channels, personalize experiences, and apply benefits such as loyalty and saved preferences. Right now, most agentic commerce still behaves like a guest checkout: the agent acts as proxy, and the customer’s identity isn’t revealed until the moment they hit “buy.” Identity signals exist, but sellers have to do a lot of manual work to capture what’s available and map it into existing customer and order management systems.

As a result, brands we talk to are struggling to honor loyalty benefits, apply targeted discounts, and attribute conversion (or diagnose abandoned carts) with the same fidelity they’re used to. And as agents get better at making timely, relevant recommendations, the decision to buy can happen faster. If checkout then forces extra steps (whether that’s a click-out to a business’s site or additional confirmation and form-fills), sellers risk losing that intent.

It’s one reason we’re continuing to improve Link, a digital wallet built by Stripe. For returning Link customers, shipping and payment details are already saved, so checkout is faster. Link can also give agents a safer way to complete purchases without exposing a shopper’s personal or payment details.

Over time, as the agentic ecosystem matures, we expect to see loyalty programs plug in, more complex fulfillment options supported, and upgrades to post-purchase engagement.

A recurring question we’re hearing from sellers: should you build a first-party agentic experience (like a brand-owned assistant on your site or app), or lean into third-party agentic commerce on external AI agents? In practice, this isn’t an either-or decision so much as a measurement challenge. The two approaches show up in different points in the customer journey.

First-party agents, such as NikeAI, Magic Apron from Home Depot, or Ask Ralph from Ralph Lauren, are primarily about engagement. They deepen relationships with known customers, preserve brand control, and make it easier to maintain customer context like identity and preferences. Third-party agent surfaces are largely about acquisition. They meet customers where they already are and help capture net-new demand. We’ve seen this dynamic emerge early on with Etsy, for example.

There’s an opportunity to design for both. Use first-party agentic experiences to improve retention and lifetime value, and treat third-party surfaces as a new distribution surface that can bring customers to your owned channels over time.

Most of what we’ve covered here is everyday checkout, where a person decides to buy and pays through familiar rails. In parallel, we’re starting to see agents pay other services directly, per request, while they’re completing a task. That’s outside the standard ACP flow. It’s not a checkout session with shipping, loyalty, and a human confirmation step. It’s typically a fast, programmatic payment inside an HTTP call.

Agents also don’t pay like humans. They might make thousands of small decisions a day and need low-latency, HTTP-native payments for pay-per-call or pay-per-task business models. Builders tell us they want to charge agents directly for things like tool usage, data access, or automated workflows, but the existing tooling is mostly built around human checkout.

To help bridge the gap, we previewed
machine payments
using stablecoins on Stripe. With a few lines of code, you can use the PaymentIntents API to charge agents for things such as API usage, MCP calls, or HTTP requests. You specify the amount and currency, then Stripe generates a unique deposit address for that transaction.

From there, you return the deposit address to the agent, so it can pay programmatically. In an x402 flow, for example, the protocol passes the address back to the agent so it knows exactly where to remit payment. You can track status via API, webhooks, or the Stripe Dashboard, and funds settle into your Stripe balance. We’re starting with support for x402 using USDC on Base, with more protocols coming.

We’re already seeing
early

examples
, like charging agents per API call for inventory, pricing, delivery quotes, or pick-up-slot holds, and charging per task for automation such as fitment checks, bundle building, quote generation, or replenishment. This isn’t common in traditional retail yet, and today it’s stablecoin-based, but it points to where agent-native monetization can go as protocols and rails mature.

What’s next

What’s next

Agentic commerce is changing fast. In the near future, agents, humans, and businesses will be able to transact as reliably as today’s checkout, with richer context and better controls. Stripe is building the economic infrastructure for that future.

As agents start buying, selling, and coordinating work on our behalf, we want it to be easy for any business to show up on AI surfaces and get paid reliably. If you already use Stripe for payments, you’re well positioned as agentic commerce expands.

To get there, we’re continuing to improve the
Agentic Commerce Suite
: pushing more real-time updates, expanding SPT
support to more payment methods
, strengthening fraud signals as new vectors emerge, and building the identity resolution logic that helps sellers recognize customers across agentic surfaces. In addition, as agentic commerce becomes more global, we’re investing in broader geographic coverage and support for new verticals.

To learn more about how we’re expanding our agentic commerce solutions,
join us at Stripe Sessions
.

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Last year, we launched Shared Payment Tokens (SPTs), a payment primitive for agentic commerce that lets agents initiate payments with a customer’s permission and preferred payment method, without exposing the underlying credentials. We’ve seen widespread adoption of SPTs by leading businesses such as Etsy and URBN (including Anthropologie, Free People, and Urban Outfitters). Since then, sellers have asked us for access to more of the most popular payment methods for agentic transactions.

To that end, we’re expanding SPT support to enable broader access to network-led agentic payment capabilities, including Mastercard Agent Pay and Visa Intelligent Commerce, as well as buy now, pay later (BNPL) methods such as Affirm and Klarna. This makes Stripe the first and only provider that supports both agentic network tokens and BNPL tokens in agentic commerce through a single primitive. These capabilities are already rolling out: Stripe is using agentic network tokens to process transactions across supported AI agents.

For sellers, the experience is straightforward. You interact only with SPTs, while Stripe handles the complexity of provisioning agentic network and BNPL tokens behind the scenes. Any seller already processing payments with Stripe automatically supports these new payment methods for agentic transactions.

Enable network-led agentic payments with Mastercard and Visa

Built by Mastercard and Visa and deployed in partnership with Stripe, agentic network tokens are network-issued, secure digital credentials that allow authorized AI agents to initiate payments on a customer’s behalf without exposing underlying card details.

“Mastercard Agent Pay represents a fundamental shift in how agent-initiated commerce comes to life, extending the scale and trust of network tokenization into AI-driven payments,” said Pablo Fourez, chief digital officer at Mastercard. “Together with Stripe, we’re helping build and scale the critical infrastructure for the agentic economy.”

“Agentic commerce is accelerating the next phase of digital payments, where security, control, and scale are foundational,” said Rubail Birwadker, senior vice president, head of growth products and partnerships at Visa. “Through our partnership with Stripe, Visa agentic network tokens will power agent-driven payments with the same trust, performance, and protections merchants rely on every day.”

When a customer authorizes an agent to make purchases, Stripe provisions an agentic network token from Mastercard or Visa scoped to the customer’s intent and shares it with the agent. The agent can then use these tokens across any seller accepting agentic payments and anywhere Mastercard or Visa is accepted. The network then handles secure credential translation, verification, and authorization. This allows agents to vault agentic network tokens with Stripe once and use them across multiple sellers in alignment with the customer’s intent.

Agentic network tokens function similarly to card-on-file network tokens: payment networks automatically map the agentic network token to the latest FPAN when sending authorization requests to the issuers. They also add additional information in the authorization message for the issuers to make informed authorization and provisioning decisions, and manage disputes and fraud.

Accept Affirm and Klarna payments

BNPL methods, which allow customers to finance purchases and pay them back in fixed installments, were little-known less than a decade ago. Today, they account for over $300 billion in transactions worldwide. Businesses on Stripe can see up to a 14% increase in revenue on BNPL-eligible sessions, driven by increased conversion and higher average order values.

We’re now bringing this value to agentic transactions by adding SPT support for Affirm and Klarna. This allows agents to present flexible payment options on behalf of customers, helping increase checkout conversion rates. And just like with agentic network tokens, sellers already processing payments with Stripe get access to BNPLs in agentic flows.

Here’s how it works: when a customer selects a BNPL option, Stripe surfaces the BNPL confirmation page on the agent’s UI and passes the seller’s credentials to the BNPL provider. This means the customer experience is unchanged while Stripe manages the complexity behind the scenes.

Looking ahead

Looking ahead, we plan to expand SPT support to more payment methods, making agentic payments accessible to more customers. And to learn more about how we’re expanding our agentic commerce solutions, join us at Stripe Sessions.

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Payments

Businesses in the UK, Europe, Canada, Australia, Singapore, and Switzerland can now offer Unified Payments Interface (UPI), India’s most popular payment method, used in more than 80% of online domestic transactions.

Payments

Businesses in the US, the UK, Europe, Canada, Australia, Singapore, and Switzerland can now offer BLIK, Poland’s largest payment method, used in more than 65% of online domestic transactions.

Revenue Recognition

With long-term deferred revenue support enabled, you can now book all revenue deferred for over 12 months into a new account for long-term deferred revenue.

Revenue Recognition

You can now create Revenue Recognition rules applying accounting treatment to credit notes.

Revenue Recognition

Revenue Recognition users with multiple settlement currencies can set a single functional currency for consolidated reporting.

Payments

Businesses in the UK, Europe, Canada, Australia, and Singapore can now offer Pix, Brazil’s most popular payment method, used in more than 40% of online domestic transactions.

Payments

Adaptive Pricing is now supported for one-time payments on MB WAY, Alipay, TWINT, and Unified Payments Interface (UPI).

Data Pipeline

You can now use Data Pipeline to export all of your Stripe data to Databricks.

Payments

Recurring payments are now supported on Unified Payments Interface (UPI), India’s most popular payment method, used in more than 80% of online domestic transactions.

Payments

Users can now accept payments over Machine Payments Protocol (MPP) in a few lines of code using our Payment Intents API.

Connect

Platforms can now embed account onboarding, payments, and payouts components in their React Native mobile applications (preview).

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Stripe 2025 annual letter

SAN FRANCISCO AND DUBLIN—Stripe, the programmable financial services company, has signed agreements with investors to provide liquidity to current and former Stripe employees through a tender offer at a $159B (€135B) valuation. While the majority of funds for the tender offer are being provided by investors including Thrive Capital, Coatue, a16z, and others, Stripe will also use a portion of its own capital to repurchase shares.

Stripe also published its 2025 annual letter to the Stripe community, detailing a strong year for businesses on Stripe and the internet economy overall. Businesses running on Stripe generated $1.9 trillion in total volume, up 34% from 2024, and equivalent to roughly 1.6% of global GDP. Beyond payments, Stripe’s Revenue suite (comprising Stripe Billing, Invoicing, Tax, and more) is on track to hit an annual run rate of $1 billion this year.

In the letter, cofounders Patrick and John Collison wrote:
"Our programmable financial services now power more than 5 million businesses directly or via platforms, including all of the top AI companies, many of the largest blue-chip companies (90% of the Dow Jones Industrial Average), most of the biggest tech companies (80% of the Nasdaq 100), and a significant fraction of freshly minted startups (25% of all Delaware corporations are now created with Stripe Atlas) [...] Stripe remained robustly profitable, allowing us to continue investing heavily in product development (with more than 350 product updates last year) as well as acquisitions. […] All in all, 2025 was a strong year for the internet economy, and we’re delighted to see so many of Stripe’s customers do so well.”

Kareem Zaki, partner at Thrive Capital, said: "After a decade of partnership and seeing their work up close, we believe Stripe has built the premiere financial infrastructure stack for the internet economy, relied on by the fastest growing companies for payments, billing, fraud prevention, tax, and more. While their core business has never been stronger, we believe their most transformative chapters are being written right now. We believe Stripe's lead will only expand across the future of money movement due to their leadership in agentic commerce, stablecoins, and more."

New businesses on Stripe are scaling at record speed

The 2025 cohort of new businesses on Stripe is the highest performing in the company’s history. More new companies joined Stripe in 2025 than ever before, with more than half (57%) based outside the US. Businesses in the 2025 cohort grew around 50% faster than the 2024 cohort. The number of companies reaching $10 million ARR within 3 months of launch was double the 2024 count. Companies incorporated via Stripe Atlas are also monetizing sooner: in 2025, 20% of Atlas startups charged their first customer within 30 days, up from 8% in 2020.

Businesses on Stripe are increasingly global by default

Over the last few years, the country-by-country expansion model has melted away. The “domestic market” for a new generation of internet businesses is the internet itself. Nearly every recognizable AI product launched globally by default, including ChatGPT, Claude, Replit, Lovable, Base44, Vercel, Cursor, Midjourney, and many more. Among Stripe businesses with mostly international revenue, 30% of that revenue comes from countries that are neither their home market nor one of the top 10 global economies.

“This isn’t merely about incremental revenue from a ‘long tail’ of international users. In many cases, the ‘long tail’ is much of the dog,” the Collisons wrote.

Building the economic infrastructure for AI

Agentic commerce has moved into a phase of building and real-world experimentation. As with the early internet, the future success of agentic commerce is contingent on universal interoperability.

To that end, Stripe has been working with a broad set of partners across AI labs, retailers, and leading ecommerce platforms to lay the groundwork for this generational shift:

• With OpenAI, Stripe developed the Agentic Commerce Protocol (ACP) to establish a shared technical language between AI platforms and businesses, open by design.
• Stripe launched an Agentic Commerce Suite, which provides tooling for businesses to sell across multiple AI interfaces and protocols with a single integration. Brands already onboarding include Anthropologie, Urban Outfitters, Etsy, Coach, and Kate Spade.
• Stripe introduced Shared Payment Tokens, a new payment primitive that lets agents initiate payments without exposing credentials, usable even by businesses that don’t process payments with Stripe.
• Stripe launched machine payments, a way for developers to charge agents directly for API calls, MCP usage, and HTTP requests using stablecoin micropayments.
• Stripe partnered with OpenAI to power the first shopping experiences inside ChatGPT. Stripe is also collaborating with Microsoft to bring similar capabilities to Copilot.

Philippe Laffont, Founder and Portfolio Manager of Coatue Management, commented: "In the AI era, Stripe is emerging as the default financial layer for companies at the frontier of the 'token economy' in its work with the world's top startups and enterprises. As intelligent agents begin to participate in commerce, companies are turning to Stripe to handle payments and money movement at global scale."

Stablecoin adoption is spiking

In 2025, the price of Bitcoin dropped precipitously, but stablecoin payments volume doubled to around $400 billion, 60% of which is estimated to represent B2B payments. Bridge, the stablecoin orchestration platform Stripe acquired last year, saw volume more than quadruple.

In July, Stripe acquired Privy, which powers more than 110 million programmable wallets. In September, Stripe unveiled Tempo, a blockchain purpose-built for payments, incubated together with Paradigm. With Tempo, businesses get dedicated payment lanes, sub-second finality, opt-in privacy, and interoperability with compliance and accounting systems—important features for supporting real world economic activity.

Alex Immerman, General Partner at a16z, said: "Stripe has consistently aligned itself with the most important technology shifts—first ecommerce and software-as-a-service, and now agents and stablecoins—and has set a relentless pace of innovation for fifteen years and counting. As Stripe continues building the financial infrastructure of the internet economy, the company has become a default platform for the next generation of ambitious builders and enduring companies. We are thrilled to have been their partners since 2010 and even more excited to deepen our partnership today."

For more information, Stripe’s full 2025 annual letter is available online.

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