On Monday, Indiegogo introduced new payment options for its crowdfunding platform that will make it easier for backers to receive the support they needed. The funding portal revealed that, through its partnership with credit card vendor Stripe, it has begun to roll out Stripe payments to offer customers more currency options, starting with those using Euro.
“Indiegogo backers have a high degree of comfort with making purchases and contributions through credit card. This trend falls in line with what what is happening across the industry. Today, credit cards are the most common method that backers use to support projects. That’s why we’ve expanded our partnership with Stripe to make it easier for campaigns to get contributions from backers.”
Indiegogo revealed that it enabled Stripe for campaigns raising funds in Euro currency on February 14th and in the upcoming spring it will enable Stripe for campaigns using funds in CAD, GBP, and AUD. The platform also shared all currencies that it supports will use Stripe to process contributions and disburse funds. Explaining how the new payment options will affect disbursement, Indiegogo stated:
“When you first create your campaign, you’ll provide certain pieces of information: Currency, bank account country, country of residence, legal name, date of birth, and, if applicable, business information. Once you’ve started raising funds, you’ll return to your Secure Bank Form on the funding tab to complete your bank and identity information. Other than ensuring that you’ve completed the bank form with correct information, you’ll continue to get disbursements as you always have. If your campaign is eligible for payouts through Stripe, your bank statement will show funds coming from Stripe, not Indiegogo.”
In regards to backers in countries that are not supported by Stripe, Indiegogo added:
“Indiegogo supports a larger list of countries than those that are listed above. We disburse funds to more than 200 regions. For campaign owners running campaigns in countries outside of what’s listed above, they can continue to raise funds in USD. Funds disbursed to countries outside of Stripe’s supported location are disbursed via international wire transactions. We recommend talking with your bank about receiving funds from the United States to make sure you have your bank information setup correctly.”