Digital payments giant Stripe launches new software to simplify how companies work out sales taxes
Summary
LONDON — Stripe on Thursday debuted a new product that it says will make it easier for businesses to calculate and collect sales taxes, marking the digital payment giants latest push into other areas of finance. Matt Henderson, Stripes EMEA lead, said working out how much sales tax needs to be paid on certain transactions can be a complex process, with rules varying across different countries. Stripe, which competes with the likes of Square, Adyen and Checkout.com, got a big boost from the coronavirus pandemic last year as many businesses moved online due to lockdown restrictions around the world. A number of companies compete in the space, including sales tax specialists Avalara and accounting software provider Intuit. SIGN UP for our weekly, original newsletter that goes beyond the list, offering a closer look at CNBC Disruptor 50 companies, and the founders who continue to innovate across every sector of the economy.