Bengaluru and US-based SaaS company Omnify has joined Stripe Partner Programme as a Verified Partner.\r\n\r\nOmnify is a technology company that builds booking and business management software for small businesses. It is also called as \u2018Shopify for Services\u2019. Launched in 2016, Omnify has now more than 5K businesses using their platform to sell and manage their services online in more than 50 countries.\r\n\r\nStripe, on the other hand, is a US-based technology company which allows individuals and businesses to receive payments over the Internet.\u00a0With operations in more than 25 countries, Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models.\r\n\r\n\u201cStripe in itself is an ecosystem where a lot of startups can build their product on top of it. Omnify is one of the few Indian companies to join the program and be the official partners in its mission to get on board more digital audience,\u201d as stated by Kabandi Saikia, Co-Founder & COO at Omnify in a recent interaction with Inc42.\r\nWhat Is Stripe Partner Program?\r\nOn July 31, 2018, Stripe launched the\u00a0Stripe Partner Programme worldwide to amplify and help grow its platform, plugin, and extension partners as well as work towards increasing the GDP of the internet.\r\n\r\n\u201cWith only 3% of GDP online, the goal of the\u00a0Stripe Partner Programme is to increase internet commerce by helping companies start, run, and scale their businesses,\u201d mentioned Stripe in a media statement.\r\n\r\n\u201cPartners have integrated with Stripe for years\u2014more than half of our fastest-growing users take advantage of one or more Stripe extensions,\u201d added Claire Hughes Johnson, Stripe COO.\r\n\r\nAs Stripe is increasingly getting pulled up-market, its users have asked for an easier way to discover new partners and new applications.\r\n\r\n\u201cThat\u2019s why we\u2019re excited Omnify is joining forces with us today to provide a better overall experience for the millions of businesses scaling on Stripe,\u201d Clair added.\r\n\r\nTo be noted, Stripe payments are not active in India. In December 2017, Stripe started an invite-only beta for Stripe in India with a small group of companies.\r\n\r\nAs mentioned on its blog,\r\n\r\n\u201cWith Stripe Atlas, we\u2019ve already been able to help some Indian entrepreneurs build and scale global companies. However, we believe that by operating locally in India\u2014with the ability for Indian companies to connect their local bank accounts to Stripe and get paid out in rupees\u2014we can help support even more businesses and more types of business models (such as local marketplaces) in the years to come.\u201d\r\nHow Will Stripe Partner Program Benefit Omnify?\r\nWhile Omnify was already providing Stripe services as part of its business solutions for cross-border transactions, Stripe Partner Programme will further offer additional benefits to the company.\r\n\r\nStripe Verified Partners undertake a rigorous security and verification process, so that users can be confident in the quality of the partner\u2019s integration with Stripe, as well as more easily find new partners.\r\n\r\nVerified Partners receive enhanced benefits, including access to millions of Stripe users through a listing on the \u201cWorks with Stripe\u201d gallery, exclusive invites to product betas, dedicated partner support, and more.\r\n\r\nFor instance, with Stripe\u2019s flexible payments APIs, partners can build new product experiences quickly. Stripe also helps partners meet global compliance and regulatory obligations and continuously iterates to add the latest payment technologies.\r\n\r\n\u201cOmnify\u2019s booking and business management software, combined with Stripe\u2019s seamless payments platform, helps small businesses sell and manage their services online,\u201d said Kabandi.\r\nIndian Cross-Border Payments Scenario And Scope For Stripe Entry\r\nIndia\u2019s digital payments market is set to touch $1 Tn by 2023, as suggested by Principal Adviser to Niti Aayog Ratan P Watal at the launch of Niti Aayog report \u2014 \u2018Digital Payments \u2013 Trends, Issues and Opportunities.\r\n\r\nThis is led by growth in mobile payments, presenting huge business opportunities for players in the digital space and has further opened gates for the payment platforms active in cross-border remittance space.\r\n\r\nAccording to InstaRem CEO Prajit Nanu, the cross-border remittance market in India is around $6-7 Bn annually. Founded in 2014, InstaReM is licensed as a Money Services Business (MSB) in Singapore, Hong Kong, Australia, Malaysia, India, Canada and the USA.\r\n\r\nPaypal is another big player in this space which is rapidly gaining momentum in the country. In April 2018, PayPal announced plans to digitise the FIRC application process for easing the cross-border inward payments troubles for Indian sellers and freelancers.\r\n\r\nMost recently, Paytm also announced its foray into forex services under its banking identity Paytm Payments Bank. Earlier in April 2018, it also announced its plans to enter into foreign exchange and cross-border remittance space.\r\n\r\nAlthough Stripe is not active in India, it\u2019s partner program is certainly an indication towards its intent to test waters in the country. Also, despite being present through its clients and partners. Stripe\u2019s products are more preferable as compared to its counterparts in the industry.\r\n\r\nAs Kabandi said, \u201cWe have a lot of restrictions in terms of payment gateways in India especially recurring payments. Such payments are not possible at all if you use Indian payment gateways. Though we also use platforms like Instamojo and Paypal, services offered by Stripe are unmatched.\u201d\r\n\r\nWith continuous support from businesses like Omnify, how soon stripe wil mark its official entry into the country, will be something to be watched for.