Stripe Sessions 2026 | Keynote

This week, a report cast doubt on the significance of internet shopping in the next few years. There's all kinds of pictures like arrows and buildings and currency.

What about this internet thing? No one

in their right mind is going to put their credit card on the internet.

I can't see why it won't become completely ubiquitous.

What's alluring about the web is that nobody knows where it's going. We've had

all sorts of dramatic inventions and innovations over the last couple years and now it's at some pretty meaningful scale. There's been a phase transition.

scale. There's been a phase transition.

CH GPT launched on a Thursday and we started working on the AI version of Intercom on the Monday.

I believe in AGI. It does make you think that we'll get there by 2026 or 2027.

AI took the world by storm.

There's at least a reasonable chance that 2026 Q1 will be looked back upon as the first quarter of the singularity.

We went live within a day, multiple times a day. Thousands of launches happening every day. We can launch products to market faster faster instead

of 20 weeks, 6 weeks.

Tech is one of the early adopters for AI, but we're seeing it across the consumer space, across financials as well. The excess buildout is massive.

well. The excess buildout is massive.

We're building the next feature of computing.

Now we have about 40,000 companies.

Recently passed 1 million users from like 20 million to 500 million.

When we look at the cohorts, the businesses that signed up, there are more of them and they are on average doing better.

We had to rapidly set up a US entity.

Within a day, we were up and running.

Most of our customers are actually outside of the United States. Constantly

adding new markets.

Happy Friday. It has been 99 days since the start of the singularity.

AI will affect everything from how we serve customers to the supply chain inventory.

Stable coins will be the default payment method for AI agents. agents 24/7 AI agent employee that's completely unhinged.

This technology is going to uplift and power the whole economy. 100% of my code is written by Quode.

They're betting big on AI right now.

When innovation is at its strongest that bodess well for Best Buy.

It's going to be like the industrial revolution but 10 times bigger.

And they all compound each other. You

can apply this to systems that we haven't even invented yet.

I think there's never been a better time to create or build.

Good morning and welcome to Striped Sessions.

It's April 29th, otherwise known of course as day 119 Singularity. And we'll

come back to this in just a few moments.

This is the biggest sessions, as you can see, that we've ever put together. And

we're very grateful to all of you for joining us, for spending the time with us, and we're extremely excited to show you what's been cooking. Whether you're

here for the talks or the demos or the hallway conversations or anything else, Sessions is built for all of it. And

there's really a lot going on in the internet economy.

Now, part of what I love about Sessions is we have businesses from so many categories and domains. We've AI

leaders platforms enterprises startups, e-commerce giants, solo developers.

You all across the full spectrum of commerce and industry are ensuring that the new miracles of science and technology are actually deployed in the

real world and we feel very honored to support you.

To give you a quick update, Stripe now serves more than 5 million businesses around the world, including 86% of the

Forbes AI50, 90% of the companies in the Dow Jones Index, and 80 of the NASDAQ 100.

Businesses on the Stripe platform, all of you, collectively generated revenue that's equivalent to about 1.6% 6% of

total global GDP last year. Quite

remarkable. And this works out to about $1.9 trillion in total payment volume.

And this figure is up 34% year-over-year.

And that's particularly striking when you set it alongside global growth of just 2%. And so businesses that build on

just 2%. And so businesses that build on Stripe, again, all of you, are dramatically outpacing the rest of the economy.

But it's not just about growth. We work

really hard to ensure that Stripe remains the steadiest and the most reliable part of your stack. And last

year, our critical APIs retained 99.9996% availability while we while we on average merged well over a

thousand production pull requests every day. And so Stripe is getting better

day. And so Stripe is getting better faster than it ever has before.

So day 119, the singularity. Now we're

being a bit tongue-in-cheek with this, of course, but but only a bit. And the

reason we kind of frame things this way is something as far as we can tell really has changed over the last couple of months. So I want to show you a chart

of months. So I want to show you a chart we've actually never publicly shown before. This is the number of new

before. This is the number of new businesses launching on Stripe every month and starts here in 2019. You can

see this big spike at the beginning of the pandemic. And actually the

the pandemic. And actually the interesting thing about that is it never went back to baseline. It remained at this elevated rate.

But since the beginning of this year, the beginning of 2026, we have started to see this incredible inflection, this

parabolic rise in new firm creation.

And this acceleration that we're looking at, no, it's about lots of new company formation, but what's happening, as you guys know, is really not only about new

startups.

Because of AI, the entire economy is replatforming. The entire economy, new

replatforming. The entire economy, new products, new business models, and completely new sectors.

And every business now faces two imperatives.

One, to figure out how you're going to reinvent your product. And then second, to reimagine how the business works.

And interestingly, programmable financial infrastructure is crucial for both of these. Now, from the start, we've been big believers in the idea

that financial infrastructure should converge with code. Now, I grew up as a Lisp programmer, and in Lisp, the core idea is that code is data. Well, the

basic idea in Stripe is that money is data. And when we launched back in 2011,

data. And when we launched back in 2011, you know, this was not exactly industry orthodoxy, but it turned out to be a pretty impactful idea as software came

to take over the world. But if this thinking was useful in pre-Singularity times, standing here in 2026, it's

obviously become quite essential.

And so, Stripe is building the economic infrastructure for the AI era. And

you're going to hear this theme interwoven across everything that we cover at sessions.

And so this brings me to today. We have

a lot to show you. New products, new capabilities, and new ways that Stripe can hopefully help you grow. And I won't spoil the details, but I will say that I

think today's announcements represent the most ambitious single day set of product launches in Stripe history. So,

let's get into it.

Please welcome Stripe President of Technology and Business Will Gabbrick.

All right.

So, something fundamental changed at the start of this year. You know, we could all sort of feel it, but I want to show you the moment that it snapped into focus for me because the near vertical

inflection that Patrick just showed us, it's not just happening at the macro level. You know, we're seeing the

level. You know, we're seeing the singularity within our products as well.

So, this is a us, our command line interface or CLI. And

for a long time, it barely moved. You

know, the CLI was the province of a relatively narrow band of deeply technical stripe afficionados. Then

usage started ticking up just a bit last year, but then early this year, usage of the CLI exploded.

So why?

What you're looking at here is the rise of agents. You know, we'd all been

of agents. You know, we'd all been talking about the agentic era for years, but in a matter of weeks, we suddenly found ourselves, all of us, living in it. You know, it's here.

it. You know, it's here.

And at Stripe, as for many of you, our daily reality is now building agents, designing evals, writing skills, and of course redesigning our products to be used by agents.

It's easy to underestimate the implications of a near future where agents are autonomous economic actors responsible for most internet transactions. And just as agents work

transactions. And just as agents work faster than we do, they're going to spend money a lot faster, too. So this

is a huge economic opportunity if only we all can seize it. So how should we be preparing? We have a ton of exciting

preparing? We have a ton of exciting stuff to show you on that score today.

So I hope your agent is diligently taking notes. But sessions is also about

taking notes. But sessions is also about giving you a peak into the future. You

know, less talking and more showing. So

what do you think? Should we just get the demos started?

All right.

So, we all know that agents can write great code or they can write a ton of code fast and some of it usually works.

What they can't do is package up an application for real users and put it on the public internet. Rather, they

couldn't do that until last month we launched a private preview of Stripe projects because projects handles the other side of Vibe coding, vibe deploying. So, let's see what it can do.

deploying. So, let's see what it can do.

Well, at Stripe, you know, we care a great deal about APIs, in case you haven't noticed. So, for this demo, we

haven't noticed. So, for this demo, we built an agentic app that takes any public API and reviews it for legibility and developer developer erode

can oneshot deploy this using straight projects. So, please quickly

projects. So, please quickly quickly deploy my

app using database.

Sorry, you're all watching me type and agent sandbox sandbox and a hosting

provider.

Excuse me.

All right.

And please work because I am on stage.

Okay. So while Claude does its thing, let me tell you a little bit more about stripe projects.

So the idea for projects came from our favorite source of inspiration. you

won't you know for example this tweet last year from Andre Karpath and you know he's right in the era of agentic coding building an app shouldn't feel like assembling IKEA furniture

you're juggling a dozen different services accounts with each of them bouncing between dashboards copying and pasting secrets and agents can't do any of this you know every single step

requires a human well projects fixes this you know it programmatically provisions services manages usage and it even navigate preview last month and there are many

many thousands of you on the wait list.

Well, right now we're raising the gates and we're making Stripe projects available to everyone.

So, we already have great partners, and if you want to join the ranks, please come see us downstairs in the app. Okay,

let's go check in on our friend Claude.

Okay, and it claims it worked. But

before we check, let's just go through the output log here. So, first thing it did was choose a set of providers. So,

Versell for hosting, we got superbase for the database, and then run loop for the agent sandbox. Looks like it pulled some credentials, some secrets here. And

again, it says it was successful, but you know, agents can be a bit overly optimistic. So, let's just copy the URL

optimistic. So, let's just copy the URL and we'll head back to the browser.

Zoom in here. Oh, already zoomed in.

Moment of truth. See if it actually made it to the web.

And boom, there you go. The app is live and I mean actually live you know over the course of building this we heard from many of you that you actually wanted to use it and so as of right now it's available to all of you and of

course to your agents okay so we just oneshotted deployment with projects but think back to that future that we imagined earlier you know one where agents are autonomous economic actors

responsible for most internet transactions well for that future to be real Agents need to be able to go buy things a

highly non-trivial because you know pricing pages forms these need a few months back

payment protocol or MP in collaboration with our friends at Tempo. Now, MPPP is an open standard that lets any service tell agents that payment is required and

how to pay all directly over HTTP. So,

I've already used Stripe to integrate MPP into this app. But even if the app is ready to accept a payment, how do we give an agent a payment credential in

the first place? And how can we trust them to use it responsibly?

Well, it turns out we already have something perfect for this link. So

today we're launching Link's new wallet for agents. Let you securely empower

for agents. Let you securely empower agents to spend on your behalf. Your

payment credentials are never exposed and you approve every purchase. So let's

go see if we can close the loop. Can

another agent autonomously buy an API from the agent who built and deployed the app.

So I was using Claude for the first agent, the builder, but now I'm going to use codeex. I'm going to do it in dark

use codeex. I'm going to do it in dark mode just to keep them sort of visually distinct distinct. I'm not going to tell

distinct distinct. I'm not going to tell it anything about MPP or link. I'm just

going to ask it to get me a review for an API from Privy. So, get me a review of this API. Uh, and Privy is our crypto

wallet solution for anyone not familiar.

Grab this URL MD for the agent. All right. And off you go. So, it's going to request the

go. So, it's going to request the review. You can see right away it

review. You can see right away it notices that the app is using MPP and accepts card payments.

And here you can see that the agent has realized that it can use link and that's what's attending to do.

It's extracted the amount. So, 200

cents, so $2.

It's taking its time.

All right. And this is important. You

can see it's sending me over to the link app for my approval. Wish I could just command double click, but say loveie.

So, here we are in the link app.

I can see what I'm buying. A $2 review uh and my Visa card here. So, let me approve that. Give it my thumbrint.

approve that. Give it my thumbrint.

Okay. Okay, so if you've been to sessions before, you've seen a payment or two on this stage, but you've never seen one like this because this is fully autonomous. Two agents attempting a real

autonomous. Two agents attempting a real value exchange right before our eyes.

So fingers crossed it's got the approval.

And there we go. Autonomous payment

accepted.

So, you know, that's one small step for these two agents, but one giant leap towards making agents full economic actors. And even a few months ago, you

actors. And even a few months ago, you know, that very idea would have sounded futuristic. But now, when you string

futuristic. But now, when you string together straight projects, the machine payments protocol, and the link wallet for agents, we're really on the precipice of agents building, buying,

and selling software autonomously.

You know, we're we're in a sort of funny moment because we're all being called to reimagine our businesses from the ground up. We still have to do the day-to-day

up. We still have to do the day-to-day work of serving all of our customers.

So, we're working hard to help you with both. And over the next hour, we'll run

both. And over the next hour, we'll run through a ton of upgrades across payments radar revenue money management, and embedded finance. And as

we do, you'll notice three themes. So,

how we're making Stripe more programmable, how the Stripe network is protecting and propelling your business, and of course, how Stripe's economic

infrastructure for AI can boost your growth in this new agentic era. So,

let's dive in. Starting with payments, here's Kevin.

Thanks. Well, payments has always been the beating heart of your business and ours. And as you've just seen, payments

ours. And as you've just seen, payments is about to meet a new kind of buyer, agents. Today, I'll show you how we can

agents. Today, I'll show you how we can help you stay ahead. I'll share how you can get ready for a commerce and how you can boost your revenue with high

performing checkouts and global payments optimizations.

Let's start with Aenta Commerce. We

think of this as a spectrum where at one end, agents help customers discover, but the human still chooses and buys. In the

middle, the human chooses and the agent checks out. And at the far end, the

checks out. And at the far end, the agent discovers and buys. But what we don't know yet is when and how consumer behavior will change. But you shouldn't

have to bet on that. And so we built the infrastructure to help you thrive no matter how it unfolds. We're already

seeing demand across verticals from retail and media to SAS and travel. And

let me give you a rundown of what we've been up to. With Microsoft and OpenAI, we're making products discoverable inside Copilot and ChatgPT.

With Meta, we're powering checkout right inside ads. And to reach customers

inside ads. And to reach customers everywhere, you need to be where billions of people search every day.

And so today, we're going even further with a big new announcement.

We have partnered with Google, so your customers will soon be able to buy from you right inside AI mode and the Gemini app.

Quint, Fanatics, and JD Sports are coming soon. So that's Google, OpenAI,

coming soon. So that's Google, OpenAI, Microsoft, Meta. Four of the biggest AI

Microsoft, Meta. Four of the biggest AI players, all shaping new commerce experiences with Stripe.

But now let's go to the other end of the spectrum. Agents buying directly from

spectrum. Agents buying directly from you. For that, we built the machine

you. For that, we built the machine payments protocol, MP. If you offer services via APIs, MPP is a great way to acquire new customers. And as you can

see, MVP has already achieved the highest honor for a payments protocol.

People are voluntarily posting about it on the internet.

So whether you're selling inside AI services or directly to agents with MPP, it all runs through the Aentic commerce suite. You can integrate with Stripe.

suite. You can integrate with Stripe.

Your products become legible to agents.

You remain the merchant of record. And

Stripe handles checkout, payments, and fraud prevention. And today, I'm pleased

fraud prevention. And today, I'm pleased to announce that Shopify will become the preferred catalog provider for retailers that want to integrate with the Aenta Commerce suite.

And we're also adding support for platforms on Stripe. We're making it easy for platforms to offer this new growth channel to their customers. And

those businesses can sell without having to integrate with agents. Platforms like

Wix and Commerce tools and enterprises like Best Buy and Kate Spade are already building with the Aentic Commerce suite.

And as more agents and modalities emerge, our suite will expand with them.

So no matter what you sell, how you sell it, or who you sell it to, our suite will have you covered.

But none of this scales if your customers can't empower their agents to make payments. And as we showed earlier,

make payments. And as we showed earlier, we're making Link a wallet for agents.

It's already a network of more than a quarter billion users. It drives a 5% lift in conversion for returning customers. And now, right in the Stripe

customers. And now, right in the Stripe dashboard, you can easily see how Link is performing for your business.

Link now supports UPI used by over 500 million people in India.

Pix used by over 160 million people in Brazil and stable coins to provide global reach so you can serve more customers with the lowest cost payment

methods they already use.

Now let's talk about what's new with our optimized checkout suite. So many of you use it for payment surfaces, local currency presentment, language localization, and more to boost your

conversion globally.

Businesses using Stripe Checkout, our fully hosted checkout page, grew their revenue two times faster on average. Two

times faster.

And we often hear you talk about a flywheel to increase conversion. You

configure new checkouts, you analyze them, and then you optimize them. And we

want to help make that flywheel spin faster. And so today, I'm very excited

faster. And so today, I'm very excited to announce Checkout Studio, a new place for you to configure and optimize checkouts for conversion.

Now you can see all your checkouts side by side. Analyze performance. I think of

by side. Analyze performance. I think of it as mugsh shot for your checkout flows. Who did it? Who lowered our

flows. Who did it? Who lowered our conversion yesterday?

You can build your custom rules and you can run AB tests for payment methods.

And now many of you use payment element to build checkouts on your websites with our UI components. But you also want a highly adaptive checkout that can show

up anywhere from apps to chat bots to agentic surfaces.

And so today we're introducing a more customizable embedded form. And to make it really easy to build your checkouts, we're also introducing a visual builder.

Felix, thanks for joining us at the demo desk. How quickly can you design an

desk. How quickly can you design an embedded form?

Let's find out. I just have to hit create checkout. And immediately you see

create checkout. And immediately you see the new option that Kevin's been talking about, the embedded form. So let's just make one for my support chat UI. I'll

just call it support chat UI. Easy. Now in the middle here is the new visual builder. And down

all the left are all my controls and tools. So, we can let's say collect

tools. So, we can let's say collect customer names. And you can immediately

customer names. And you can immediately see the preview updating with that. Now,

it's honestly a little bright up here.

So, I kind of want to turn it down a bit. And so, let's go

bit. And so, let's go dark mode. All right, that's much better

dark mode. All right, that's much better for me. Now, I can also add custom

for me. Now, I can also add custom components. So, in this case, let's say

components. So, in this case, let's say I want to add a checkbox and we'll say

uh join my newsletter.

And I can even use these drop zones and add it right here on the checkout. I

just hit save.

And my checkout looks pretty good. So

when I'm ready, I just hit implement.

And they give me this lovely code snippet right here. Except I barely remember how to code anymore. So

this handy dandy copy for LLM button. I

hit that and I have something to hand to my agent.

So, I just went from start to visualizer to prompt all the new checkout studio and optimize a new checkout in just a few minutes. But

now, let's talk about global expansion.

It sounds so great on paper and then reality sets in. Suddenly, it's taxes, compliance, support, a very long to-do list. That's why we built Stripe managed

list. That's why we built Stripe managed payments, our merchant of record solution. It helps companies like Unity,

solution. It helps companies like Unity, Revenue Cat, and Lovable to expand in 195 markets with far less operational complexity. And as of today, Stripe

complexity. And as of today, Stripe managed payments is generally available.

And we also know that localizing your prices globally is hard. You have to manage FX, currency exposure, and payment method compatibility. That's

where adaptive pricing comes in. And

we've actually been surprised by its results. A 17.8% average in crossber

results. A 17.8% average in crossber revenue and a 5% average increase in authorization.

It now also localizes your subscription prices. So subscription businesses from

prices. So subscription businesses from startups to enterprises have seen a 4.7% uplift with adaptive pricing. That is a lot of additional revenue with very

little effort.

We've also done a lot of hard work to make payment methods operate crossborder as well as support recurring payments and just behaving the way you expect.

That's a level of standardization that's only available on Stripe.

When Gamma, one of the fastest growing AI companies, started accepting UPI, their revenue in India jumped 22% in the same month.

Now, let's talk about selling in person globally. Over 900,000 businesses,

globally. Over 900,000 businesses, including enterprises like Hertz, use Stripe Terminal for in-person payments in 25 countries. This year, Stripe

Terminal is expanding to 15 additional markets, and we have an incredible roster of terminal devices.

The S710 is our handheld device with cellular support, and it's been a hit.

But today, I'm pleased to announce the Stripe Reader T600.

Now, first off, I'm sure you can tell that we had to burn a lot of tokens to come up with that name, but it's a customerf facing display and it can power some premium checkout

experiences like loyalty programs and upsells with custom apps.

But revenue optimization doesn't end at checkout. And last year, we introduced

checkout. And last year, we introduced off boost. It automatically updates

off boost. It automatically updates cards, routes transactions across networks, and determines when to retry failed payments. Let's take a look at

failed payments. Let's take a look at how it's doing.

We found businesses can see a 3.8% lift in off rates and up to 3.3% in cost savings. And now you can use an AB test

savings. And now you can use an AB test to measure OB boost's impact. With

Omoost, you can drive more revenue and lower your costs.

But now I want to give you a little glimpse of something we're actively developing. We are taking everything we

developing. We are taking everything we know about growing businesses faster on Stripe and making it all available through an agentic expert called Stripe

Console. Felix, can you give us a sneak

Console. Felix, can you give us a sneak peek?

This is the Stripe console. So, I can ask it something like how many payments were refunded yesterday?

And it will lovingly tell me 17. Neat, helpful. But console is not a

17. Neat, helpful. But console is not a refunds lookup tool. It's a fullyfledged AI agent for your Stripe account capable of answering questions, investigating,

and taking action on your Stripe data.

So, let's push it a bit harder. And I

want to know how is my business doing monthto date.

Now, console is running a bunch of tasks in parallel, and you can see that down here. and it's pulling all my data on

here. and it's pulling all my data on Stripe to generate charts for me. And

so, oh, here's transactions, here's revenue, and here's conversion rate by country. That's great. But it's not just

country. That's great. But it's not just pulling data. It's also done some

pulling data. It's also done some thinking. So, if you look here,

thinking. So, if you look here, it's noticed that conversion rates in Brazil are lower than other regions. And

it's even encouraged me to enable picks, which I think that makes sense. But most

proactively, it's even offered to set up an AB test for me, which sounds great to me. So, let's just tell it, let's do it.

me. So, let's just tell it, let's do it.

For my excitement. Now,

console is going to figure out the tool calls it needs to make and it's going to ask me for confirmation. It's checking

me to proceed because this is going to be a userfacing change. And so, let's do it live. It's loading up my payment

it live. It's loading up my payment configuration.

It's adding pics to my checkout in Brazil. And there it is.

Brazil. And there it is.

Our AB test is live and created right from the Stripe console.

Amazing. Thanks, Felix.

Now yes some agents are optimized to be friendly and some are optimized to be creative.

Console is a general purpose agent optimized to look at your Stripe account and ask, "How can I grow faster?" So

whether you're selling to humans or agents, expanding globally with localized experiences, or optimizing your payments performance, Stripe helps your business thrive. Now, to tell you

more about the future of commerce, please welcome Ginger Baker, vice president of product for Meta, and Will back to the stage.

So Ginger, thank you for being here.

That's right.

Yeah, thanks for having us. It's like

the full fintech family out here.

And so, you know, when we all think about meta, first thing comes to mind, you know, world's dominant social platform. Don't always think about

platform. Don't always think about commerce right away, but here you are at Stripe Session. So, why are you here?

Stripe Session. So, why are you here?

Yeah, Meta is many things to many people, but at our core, we build technology that helps people to connect.

Uh, we have 3.5 billion people that use one of our apps each day. And when they use those apps, they're looking to connect with others. Whether or not it's through text they post on threads or a

video they may post on Facebook or content they create on on Instagram.

It's all about using different forms of digital content to connect to one another. And what is money other than

another. And what is money other than another form of digital content? And so

if we aren't able to make money move as seamlessly as other forms of digital content through our services, it feels like we're missing out on our real opportunity to help people connect with one another.

And so social commerce, you know, I think when we hear that, you think about scrolling and, you know, maybe tapping on an ad, but now we're in this agentic era. How's that going to change?

era. How's that going to change?

Well, let's talk about what it looks like today. So for folks in the

like today. So for folks in the audience, how many people used Instagram this week? No judgment. No judgment,

this week? No judgment. No judgment,

Instagram users. Okay, so you know the experience then for you you see something that your friend has posted.

Maybe it's a pair of gold snake earrings and you really want that item. But what

are you going to do today? Today you

have to reverse image search, try to figure out what brand the item came from, find the website, create an account, you know, enter your credit card information to check out. And I

just think it's really exciting to think about a world in which you don't have to do that. where you can go through your

do that. where you can go through your friend's photo and even just on clicking on the photo, you can get information about the brand that made the item, information about the price or the size

or whatever you need. And without ever leaving the experience that you're in, you check out. It's related to what Kevin was just talking about that we launched together.

I didn't know people were judging me for using Instagram.

No, I don't think it's judgy. Um,

clearly I shop on Instagram pretty more insitu experiences. So, you're not going to be bouncing around. You're

thinking right there on the page.

That's right. I mean, from discovery to purchase, it all takes place in the same experience. And that's what the power of

experience. And that's what the power of AI, I think, really is, is all of those steps that you used to need to go through to satisfy your desire of the thing that you were inspired by can now

be done. Everything from inspiration to

be done. Everything from inspiration to purchase happens in a single seamless experience.

You guys of course a uniquely global platform and as we've discussed, you're trying to do commerce worldwide. what

are the challenges and how are you, you know, getting around them?

Yeah, we operate in just about every country in the world. Um, and because we operate in all those countries, as I mentioned, money also needs to move seamlessly and safely in all of those

countries. And so given the vast breadth

countries. And so given the vast breadth that we have not only in our surfaces that and our products and our wearables and everything that we have, we must rely on partners to build out this

infrastructure with us to ensure that uh we connect businesses and people in the way that matters most to them with money. Um and so as a result, we rely

money. Um and so as a result, we rely very heavily on partners. I'll use the example of creators because they're a pretty diverse group. Um, so creators today, you you can have a small solo

artisan in Indonesia who manages their business almost solely on WhatsApp or you can have a brand celebrity brand in the United States who manages a multi-million dollar business across

many of our products and services. And

all of them need something different.

They're going to get paid by us in a different way. They're going to receive

different way. They're going to receive payment from their um the people that they interact with in a different way.

And so we rely very heavily on our partners like Stripe. Um, one example here is for creators specifically. Yeah,

we're working with Stripe as a partner to enable creators to get paid out in stable coins and select markets now. And

it's just an example of trying to meet people where they are and give them the payment methods and tools that they want. And for us, it's super important

want. And for us, it's super important because Stripe can handle the licensing, the on-ramps, the custody, the off-ramps, all of the things that we don't want to do, and we can focus on the experience and the relationship that's so important for us with

creators. So, how many markets will

creators. So, how many markets will stable coins get you to?

Um, well, I think it you tell you tell me, will I think that's the question for you.

We'll get to this a bit later, but at least 160 by the end of the year.

Okay, fantastic. Yeah.

Um, all right. One last one for you. So,

AI keeps surprising us. Timelines keep

compressing. What's one thing that we may all think is sort of radical sounding today that two years might seem obvious? H uh I think that payments will

obvious? H uh I think that payments will pivot from being a moment to being a policy and I think it feels radical today

because that policy will be something that you set with your agent most likely and that policy will be scripted with guardrails that say please spend you

know only up to $50 on groceries this week. Always preference this card. never

week. Always preference this card. never

do an authorization for a payment over $500. And those policy and guardrails

$500. And those policy and guardrails are things that someone other than yourself or something other than yourself is going to be operating by.

And so I I think it feels radical today to suggest that we would just completely uh you know give something else permission to manage our our financial transactions. But I think that that's

transactions. But I think that that's going to be the reality we're in.

Yeah. Moment to policy. I like that.

Yeah.

Well, thank you again. We love our partnership.

Yes. And uh next up we've got Emily to tell us about Stripe Radar.

AI is creating entirely new terrain for fraud. Bad actors are no longer just

fraud. Bad actors are no longer just stealing money or credentials.

Increasingly, they're also stealing tokens.

In AI, every prompt, every API call, every token has a real cost. And as more of you embed AI into your products, token theft has become one of the most

urgent challenges you face.

Radar is our fraud prevention product.

It started with protecting you from fraud on card payments. Today, I'll show you how we transformed Radar to protect far more of your business, your tokens,

your funnel, every transaction, and with more control than ever. The most

ambitious AI companies trust Radar, OpenAI, Anthropic, 11 Labs, Cursor. So

do some of the world's most established businesses like Pepsi and Herz. So, let

me walk you through three of the fastest growing fraud patterns we see across the Stripe network. And by the way, also in

Stripe network. And by the way, also in your tweets.

The first is multi-account abuse. And

this happens well before any payment credentials are entered. So a bad actor signs up again and again and again, stealing new user credits every time.

Across Stripe, one in six signups at AI companies are involved in multi-account abuse, and they've been nearly impossible to stop until now.

Radar evaluates each new account in real time so you can block before a single token is burned. Our solution is drawing on signals from prior abuse across the entire Stripe network. So device

fingerprints and IP addresses and email domains and a whole lot more. For one AI company, 80% of the bad actors radar caught had sailed right through their

existing provider.

Another fraud pattern that's escalating quickly is free trial abuse. In just the last six months, free trial abuse has more than doubled. And the last month,

particularly ugly for AI businesses, every abusive trial burns real inference costs. One company we work with was

costs. One company we work with was bleeding over $500 on tokens to acquire each paying customer. How, you might

ask? They were bankrolling 25 trials

ask? They were bankrolling 25 trials just to get one conversion. Now, not

every failed trial is abusive, but enough of them are that the economics clearly break, and you're left with a painful trade-off. Either you keep the

painful trade-off. Either you keep the free trial and let abuse eat your margin, or you kill it, and growth slows. Well, Radar now removes that

slows. Well, Radar now removes that trade-off. You can turn on free trial

trade-off. You can turn on free trial abuse prevention in the Stripe dashboard with one click. Radar predicts which trials are abusive, letting good users through while keeping bad actors away

from your tokens. You just saw free trial abuse accelerating right now.

Watch what happens when we isolate the businesses that adopted our solution. a

similar exponential curve and then at adoption a dramatic drop in abuse across eight high growth AI businesses.

Radar blocked more than 3.3 million risky free trial attempts in the last month alone. Okay. And then there's pay

month alone. Okay. And then there's pay as you go abuse. So this is a customer coming in consuming thousands of dollars of tokens over the course of the month getting built at the end and then never

paying. It's like a Michelin star all

paying. It's like a Michelin star all you can eat din and dash but for tokens.

Radar now predicts non-payment as that usage accumulates which means well before the bill comes due you can require a topup or cut off service or take whatever action fits your risk

tolerance.

So stopping token theft solves a growing part of the problem, but most fraud today still happens at the transaction level. So we've also expanded Radar's

level. So we've also expanded Radar's coverage of your transactions.

Last year we took Radar beyond cards to AC and SEPA. Today we're going further, a lot further, expanding Radar to block high-risisk transactions across more

payment methods. Now, I'm not going to

payment methods. Now, I'm not going to read them all out because, well, it's all of them.

Yes, Radar now protects all of your Stripe payment volume. And by the way, this extends beyond Stripe, too. Radar's

same risk scores are available via API for your offstripe volume. So, one

unified fraud layer for your entire business.

You guys are my people. I love it. Okay.

Broader coverage also means the full transaction life cycle. So from the moment of purchase all the way through to disputes for the disputes that are worth fighting, Smart Disputes compiles

and submits the evidence for you. And it

recovers 18% more revenue. But now it also tells you exactly what would strengthen your case. Upload that

additional evidence. Smart Disputes

recompiles the package and you win three times more often.

Finally, we're making Radar more customizable. You can set your risk

customizable. You can set your risk tolerance and let Radar just adapt to you, balancing fraud protection with your growth objectives. And for those of

you who want even more control over how you fight fraud, I'm excited to share that we're starting to offer custom fraud models for your most bespoke needs. You pass us signals unique to

needs. You pass us signals unique to your business, product catalog, loyalty data, whatever is relevant, and we marry them with our network data to deploy a

model fitted just to you. For every one of our early adopters, custom models are detecting at least 15% more fraud with no increase in false positives.

So, with Radar, you can now defend against new types of fraud, including token theft, protect all of your payments on Stripe, protect your payments off Stripe with that same

rigger, win more disputes, and use custom models to meet your bespoke needs. Now, to tell you all about how

needs. Now, to tell you all about how we're upgrading our revenue suite, here's Tanya.

For most of the last 20 years, revenue models have pretty much remained the same. But in the last two years, that's

same. But in the last two years, that's completely changed. The market has moved

completely changed. The market has moved to pricing based on usage, on outcomes, on hybrid models, and increasingly on tokens. This means that your ability to

tokens. This means that your ability to compete depends on a revenue system that can keep up. That's why companies like OpenAI, Lovable, Notion, Zoom, and many

more run on the Stripe revenue suite, which includes billing, tax, invoicing, and our data products. Today, I want to show you three ways that we're upgrading

it. First, we're enabling entirely new

it. First, we're enabling entirely new AI native business models. Second, we're

making Stripe more programmable than ever. And finally, we're making your

ever. And finally, we're making your data more accessible in real time. So,

let's start with business models. If

you're an AI native business or really any business leaning into AI, you face the same challenge. You need a business model that can handle the agentfueled

explosion in token maxing. Now, the

first step is tracking token consumption in real time. But with agents, this is actually a huge distributed systems problem where every millisecond matters.

This is why we acquired Metronome, a billing engine that runs as fast as agents do. With Metronome, we're

agents do. With Metronome, we're building real-time metering, that's counting every token your customers use.

Real time rating, that's applying your pricing to every single one of those tokens as they're consumed. And real

time alerting, so you can cap customers and agents before they outspend their token budget. Now, to see it in action,

token budget. Now, to see it in action, let's welcome Will back to the stage.

Thanks Tanya.

Okay, so let's get back to that API reviewer that I built. And you may recall I was charging a $2 flat fee per reviews cost us more than $2 worth of computing

page. Now it's going to be $3 per 1

page. Now it's going to be $3 per 1 million tokens. And customers are going

million tokens. And customers are going to prepay for a block of tokens. And

when they run out, Metronome will stop their agents from completing the reviews. So let's say Tanya here is our

reviews. So let's say Tanya here is our customer and this time you've asked us to review a whole block of Privy APIs.

You're a real crypto wallet enthusiast.

And we'll give each agent a $3 token allowance. We'll fire them off. And I've

allowance. We'll fire them off. And I've

got this dashboard here also so we can see a live visualization of them working. So here we go.

working. So here we go.

And off they go. You see they're each reviewing their own API and some are finishing like this one turning green.

But some are not. Thanks to Metronome's real time rating and by telling us precisely when an agent is out of tokens, Metronome has saved us from extending credit to Tanya and burning

even one extra unpaid token. But this is also a problem because I might be a great trustworthy customer getting incomplete reviews as I run out of tokens. So, I could top you up with more,

but I might also be a fraudster. And as

we heard from Emily earlier, token theft is a huge problem.

I've known you a long time, and you're a bit sketchy. So, I don't want a trail of

bit sketchy. So, I don't want a trail of burnt tokens and unpaid bills. So, how

do we solve this? Well, what if I could get paid irreversibly in real time for every token burnt? What if you could stream payments the same rate that you can burn tokens? Well, stepping back,

payment systems today just simply can't do this. You can't do with cards. You

do this. You can't do with cards. You

can't do with AC or UPI or PIC. And

beyond payments, you actually need a different kind of money. You can't do with fiat. You need stable coins to be

with fiat. You need stable coins to be able to charge minute sums by the millisecond. So, we need to process and

millisecond. So, we need to process and settlements at speed. And that's exactly why we paradigm.

It's a blockchain designed specifically for payments. So, Tanya, I'm going to

for payments. So, Tanya, I'm going to change up my pricing one more time.

Here's my new pricing page, and I'm going to charge you by the token. And

this time, I'm going to collect payments in real time for each token, and I'm going to do it by streaming uh streaming stable coins on Tempo.

So, let's reset the dashboard. And we

will fire off these agents again.

And if this works, you'll see the agents token use ticking up on the left. On the

right, you'll see real live stable coin microp payments streaming in. As far as we know, no one's actually done this before. So, we're gonna launch the

before. So, we're gonna launch the world's first ever tokens paid as burned business model right here on stage.

We're going to do it by streaming stable coins on Tempo.

So, if you pull this off, we can say we've launched America's next top model.

The world's top new business model.

Okay. So, I'm going to set these agents off. We're going to say just a little

off. We're going to say just a little prayer to the Mosone demo gods. And here

we go.

So you can see the agents burning tokens and the payments streaming alongside.

Now no agents are getting throttled and there's no risk to me. Now let's head over to this is fun. The tempo block explorer. So this is the actual Tempo

explorer. So this is the actual Tempo blockchain. You can see here the payment

blockchain. You can see here the payment stream that was opened. See if we can zoom in here. There we go. $3.30 that

total. If I scroll down, you can see these thousands and thousands and thousands of subsent. You know, this is 3,000 of a cent that make up that total.

Let's head back.

All the agents are done. And that's it.

We just launched a world's first streaming payments business right here on the stage at Moscone.

And now this is only possible because of metronome tempo and stable coins tracking and paying for these tokens in real time. So this is a really visceral

real time. So this is a really visceral example of how stripe is building the economic infrastructure for AI.

Now to hear more about tempo and agentic payments, let's welcome Georgios Constandus, the CTO of Tempo and Paradigm to the stage.

It's good to see you.

Good to see you.

Thanks for being here.

Wonderful to see our technology shown and you launching new business models on stage.

Some great technology. So, you were a longtime leader and architect in Ethereum, which is, you know, one of the most important projects in crypto, but notably not one that was ever really fintech or payments focused. So, what

made you want to bring all that crypto expertise over to this problem domain?

Yeah. So, well, I got started in the crypto space almost 10 years ago. Um,

when, you know, I'm born and raised in Greece. We went through financial

Greece. We went through financial crisis. The problem was deeply buried in

crisis. The problem was deeply buried in our bodies. And when we saw what crypto

our bodies. And when we saw what crypto could do, it could enable global 24/7 just open financial access that was really motivating. And that was great,

really motivating. And that was great, but it was still very early. We were

still didn't have the foundational pieces of infrastructure to make anything really work. And if you fast forward to today, there's a tsunami coming, which is the agents that many

people have been using in this room, if not everyone. And we see that this

not everyone. And we see that this tsunami is just going to trample over existing infrastructure. We're seeing it

existing infrastructure. We're seeing it already with the Git world. We're seeing

this with databases. We're about to see this with payments as well. So, we got together and we thought, we have this great technology. Let's point it to an

great technology. Let's point it to an important problem with great people like Stripe. And that was the the birth of

Stripe. And that was the the birth of the Tempo project, the blockchain for payment, stable coins, and agendic finance.

So beyond my amazing app, who else is using Tempo and what are they using it for?

So stable coins are a great solution for anyone doing B2B payments, remittances, payroll, anything that requires high velocity of money, low fees, global

programmable. So the three people I

programmable. So the three people I would the three companies I would mention is one door dash is using tempo to scale their dasher payouts globally at low cost which has a lot of

infrastructure costs involved right now.

CLA has issued CLA USD which is their own stable coin that they're deploying across their fintech infrastructure. And

thirdly, Visa uh who we work with alongside you guys on the on machine payments on the machine payments protocol which they're using to make it the most frictionless way to talk to

agents and they're also running a validator alongside Stripe and Standard Charter and a few others. Heard of Visa?

Yeah, I heard of them.

Good payments company.

Um and of course Stripe is using Tempo for our financial accounts and a lot of our mobile.

So you guys ship fast uh deposit addresses earlier this week. That was

great. Uh, if you could just name two exciting things coming, what would they be?

Yeah. Well, a I think it's insane for anyone to be using stable coins in clear text without privacy. So, the biggest problem that we're tackling up next in production is going to be privacy,

private global 247 transfer payments.

And the other part is further preparing for the tsunami. So, further scale, more optimization of our software, just making sure that the agents can crank.

We're all getting ready for the tsunami.

Thank you, Georgios.

Thank you, Tanya. Back to you.

Tanya. Back to you.

Thanks, Will and Georgos. So, now for the second upgrade to our revenue suite, making Stripe more programmable. You

heard from Patrick earlier. This has

always been core to Stripe's identity.

And there's no place that this is more important than in your revenue stack, the operating system of your business.

As a design principle, we strive to make all of Stripe's products extensible. But

we also have products specifically built to extend Stripe, like custom apps, which let you build bespoke interfaces directly in the Stripe dashboard, and

workflows, a visual builder that lets you program actions directly in Stripe.

But here's the thing, no matter how many features we build, there will always be logic unique to your business. Logistics

companies run on shipments. Insurance

companies run on policies and claims. And none of those things exist natively in Stripe. So you end up maintaining

in Stripe. So you end up maintaining separate systems, stitching them together with metadata, clicking in and out of the Stripe dashboard, and writing custom code just to run routine tasks.

Well, that ends today. Today, we're

introducing custom objects, a new primitive that lets you bring your business data and your business logic directly into Stripe. And when you com compose custom objects with custom apps

and workflows, you get something really powerful, a made to order version Stripe. So let's take a look at a couple

Stripe. So let's take a look at a couple examples.

Here's a custom object and method a logistics and fulfillment company could define in code. And here you can see it reflected in a custom app they could

build inside the Stripe dashboard. Now

the fields you see here are tracking numbers, destinations, carriers. They

aren't native to Stripe. They're

specific to how this business actually operates.

Now, let's take a look at a workflow an insurance company could create within Stripe to handle complex policy cancellations. It includes everything

cancellations. It includes everything from triggering different approval chains based on the size of refund required to the email notifying a customer that their cancellation is approved.

Think about what this unlocks for your support, finance, and operations teams who already spend a bunch of time in Stripe. They no longer have to use

Stripe. They no longer have to use multiple tools to do routine work because you can tailor Stripe to the shape of your business.

And our commitment to extensibility doesn't stop there. We just talked about how you can build a custom app. You can

also build public apps for the broader Stripe ecosystem. And today we're

Stripe ecosystem. And today we're expanding apps with full page experiences. App builders, the Stripe

experiences. App builders, the Stripe dashboard is now your playground.

Now let's go to the third upgrade.

Making your data accessible in real time. Some of the most valuable data

time. Some of the most valuable data about your business already lives in Stripe. And we've been on a journey with

Stripe. And we've been on a journey with many of you to make that data easier to use wherever your business runs. You

told us you wanted to query your Stripe data to generate reports. So we built Stripe Sigma. You told us you wanted to

Stripe Sigma. You told us you wanted to sync your data with your own warehouse.

So we built data pipeline. And more

recently, you told us you wanted real time access to your Stripe data in a nice structured database. So today we're

launching Stripe database. It's a

it's a Postgress database you and your agents can use to understand your business as it is right now, not as it was a few minutes ago. And coming soon, we're adding right access, custom

objects, and third-party storage. Stripe

database is available in private preview and you can go to our docs to request access. Today, we're shipping a lot of

access. Today, we're shipping a lot of updates to our revenue suite, plenty more than we have time to cover right now, but I will mention one more that you've been asking for. Stripe billing

support for contracts. You'll soon be able to model everything from custom pricing overrides to prepaid credit commitments to amendments, all natively in Stripe.

So to recap what we've covered, metronome and tempo for streaming payments, custom objects, workflows, and apps to customize Stripe,

full page apps in the dashboard, Stripe database to put all your data to work in real time, and billing support for sold contracts.

So that's it for revenue. Now to tell us about managing your money on Stripe, here's Nita.

A new breed of business has emerged.

Startups that are hypers scaling, super lean, and instantly global. Many of you are here today. You're growing faster than any generation of companies before you. But the one thing that can't seem

you. But the one thing that can't seem to keep up is how you manage your money.

your finances are still scattered across half a dozen apps and spreadsheets. It's

a hassle that just doesn't scale.

That's why last summer we introduced financial accounts so you can store money in the same place where you already accept payments.

But if you're a rapidly growing global startup, it's not enough to just have your money in one place. You should be able to move the funds instantly whenever and wherever you need it.

Your idle cash should be earning while you sleep.

And you should be able to automate most workflows, freeing up precious time to focus on the rest of your business.

Today, we're solving all all of that.

I'm super excited to announce the new Stripe Treasury.

It's a new financial operating system that gives startups all the capabilities they need for storing, spending, and managing money. Powered by both fiat and

managing money. Powered by both fiat and stable coin rails. Let's take a look.

You get multicurrency financial accounts which enable you to hold dollars, pounds, euros, and stable coins side by side. You can transfer between balances

side. You can transfer between balances and convert currencies instantly whenever you need. Yes, even on weekends and bank holidays. Now, I don't know what you do on weekends. I only convert

currencies.

Your accounts come with local routing numbers for getting paid or receiving money. And in the US, your balance will

money. And in the US, your balance will now also be FDIC insured.

In addition to that, you can create Stripe cards powered by Mastercard to spend directly against your balances.

You can set limits and manage controls right from the dashboard.

And starting today, businesses using Treasury will earn 2% cash back on all card purchases. There are no special

card purchases. There are no special categories, no blackout windows.

We're also adding rewards on balances.

Businesses will automatically earn credits when they hold money in Treasury, and they can use these credits to pay down their Stripe fees.

So, with all of that, if you're thinking, "This sounds a lot like a business banking account." You're right.

In fact, entrepreneurs in more than 50 countries are already using Stripe Treasury as their primary business account.

We're also making Treasury the fastest, easiest, and the cheapest way to move money anywhere in the world. You can pay or send money to anyone, anywhere using just an email address.

This year we've more than tripled the number of recipient countries from 50 and will already mention this to 160.

And we're not solving for just the outbound leg. As you heard from Ginger,

outbound leg. As you heard from Ginger, Meta wanted to use stable coins to send fast and reliable payments to creators in the Philippines and Colombia. But

they couldn't send stable coins without having crypto wallets on the other end to receive them. That's where Link comes in.

Link can now store stable coins. And

this is a big deal. This means

businesses can simply send stable coin payouts directly to the 250 million consumers on link without having to deal with the complexities of crypto.

Now if you conceive of link as a big network of consumers then stripe itself is a big network of businesses from the world's largest brands to all the

fastest growing startups you are building on Stripe and along the way you're buying from each other a lot like 4.8 million times every single day. This

is how often one Stripe business is paying another.

So, I'm very excited to share that today we're launching instant transfers.

Thank you. Starting today, businesses on the Stripe network can send money between Treasury accounts at zero cost.

And just to make it super clear how any business on Stripe can now send money to any other business on Stripe instantly and for free. Instant and free. two

words you don't usually hear together in finance.

Now, if you're a high growth startup or if you aspire to be, you don't want to just manage your money, you want to program it. So, we're making all of

program it. So, we're making all of Treasury, all the Treasury APIs available via the MCP. Felix, can you show us?

Of course. Now, whether you're using your agents off the shelf or you've built your own interfaces to agents, your team can connect it to Stripe with MCP. And to illustrate it, we say hello

MCP. And to illustrate it, we say hello to chat GPT. Now, I've already connected to Stripe's MPC MCP server and have granted it access to my Treasury

account, but we're live here, so let's make sure everything is hooked up. So,

chat, show me the money in my Stripe balance.

Now, here it is. Perfect. That was

quick. What we're seeing here is a Stripe embedded component and it looks just like what I'm used to in the Stripe dashboard. But let's try something a bit

dashboard. But let's try something a bit more complicated. I want to ask my agent

more complicated. I want to ask my agent to help me pay an invoice. So I have this PDF. I'll attach it there. Pay this

this PDF. I'll attach it there. Pay this

invoice. Two exclamation marks.

So now the agent is checking the invoice details. It's going to do thing do all

details. It's going to do thing do all the things you expect like the check the due date, check available payment methods, things like net settlements, um figure out what I'm paying for, whether I've paid for it before.

You didn't use all caps, Felix.

H you didn't use all caps.

So, it's detected that the recipient has a Stripe profile.

It's thinking really hard today.

which I appreciate, but I thought I wish it would think faster. Oh, great. So,

it's detected that the recipient is on the Stripe network. So, we see the Stripe profile, so we know we can send them a transfer instantly and for free.

And beyond that, it's going to even check my previous payments. It's

checking things like whether my financial accounts have money, and it's confirming whether I really want to send $1,300, which it's looking out for me.

sending the payment now or so it says.

Confirming a second time confirming a third time.

AI safe and payment sent successfully.

And because it was on the Stripe network, that means the recipient can start using their funds right away from their Treasury account. So, I've got the demo app here. Uh, it's open to my

recipient's Treasury account. And so if everything worked, I'll just hit refresh.

And it's landed.

You just saw an instant free businessto business transfer on the stripe network run entirely via agent and MCP.

Thanks Felix.

All the power of Treasury via MCP means that you can manage your money across any AI surface where you work. So, let's

recap. With Treasury, you're getting a new financial operating system for all your money management needs. New this

year, we've added ways to earn, free instant transfers on the Stripe business network, as you just saw, global payouts to 160 countries, stable coin payouts to

link, and agent ready APIs.

And because Treasury is for global companies, we have an incredibly ambitious global road map. Today,

Treasury is live in 119 countries that includes the US and UK and a preview in Europe. It's powered by stable coins in

Europe. It's powered by stable coins in 100 countries.

We'll also expand Treasury to Australia and Canada and add stable coin support for another 41 countries this year, bringing up bringing the total up to 160.

Now, to tell you about how stable coins are powering Treasury and many more of our products, here's Henry.

All right. Well, we couldn't talk about money management in 2026 without bringing up stable coins. You've heard a little about it. What we're seeing is a really profound shift in their adoption with businesses large and small building

on top of stables the way they adopted the cloud a couple decades ago and Stripe's been stepping up its investment too. Bridg's orchestration platform

too. Bridg's orchestration platform enables any business to move money globally with stable coins. Privy builds

better wallets so any developer can easily integrate crypto into their products. That's how I got here. And

products. That's how I got here. And

together with Paradigm, we're incubating Tempo, a blockchain purposebuilt for payments. Now, we're already using many

payments. Now, we're already using many of these primitives in Stripe's platform today, and the results are showing up.

Instead of some payments taking T plus2, they're immediate. Instead of

they're immediate. Instead of integrating banking rails one at a time, you use one system that works for the entire world. Instead of serving

entire world. Instead of serving customers based on the country or currency where they live, you can serve them no matter where they are. And these

are programmable rails, so you can move millions of dollars just as easily as you move fractions of a cent. This is

truly what internet native money can do.

Now, just like everything else at Stripe, we don't want to keep these capabilities locked inside our own products. Sharing is caring and you

products. Sharing is caring and you know, we care about all of you. And so,

we want you to use the same primitives that we use across Bridge, Privy, and Stripe to build out the best experiences for your users.

Stable coins have matured beyond recognition, and today they're used by some of the biggest businesses in the world. But you don't just need a way to

world. But you don't just need a way to store assets. You also need to transact

store assets. You also need to transact securely, earn yield, trade, issue cards, and manage balances. That is a lot to build today. That requires dozens

of integrations. And we're changing

of integrations. And we're changing that. Now, I'm extremely excited to show

that. Now, I'm extremely excited to show you something we've been building. These

are digital asset accounts. It's

everything you need to build financial products with crypto and stable coins all in one API. So you get payments across tokens and chains, built-in fiat

on and off ramps, onchain FX, integrated yield, and flexible custody. And again,

this is all one API, so you can just get rolling. I can see from the lack of

rolling. I can see from the lack of applause that many of you have not yet touched stable coin rails, and we will change this because it's become so much easier.

We'll get there.

We're rolling out these accounts to developers now and you've already seen them in action powering Stripe, Treasury, and Link. And the same tech serves some of the biggest names in fintech today. Ram's using our stack to

fintech today. Ram's using our stack to accelerate their international expansion. You'll be able to hear about

expansion. You'll be able to hear about it later. Deal is leveraging it to pay

it later. Deal is leveraging it to pay global workers instantly. And Door Dash works with us to pay restaurant owners more quickly with stables. It's really

incredible to see how far the space has come looking at these names here.

But I'm a startup nerd at heart. And so

equally exciting to me is seeing our APIs power a new generation of startups.

I'm going to give you three more companies that we work with. These are

the leaner, faster global startups that Nico was talking about earlier, and they're quickly becoming some of Stripe's biggest customers. These are

companies like Hyperlid, Chipper Cash, Arc Finance, all building global businesses on stable coins. And okay, I lied. I'm going to give you a fourth

lied. I'm going to give you a fourth name. This is Felix, not to be confused

name. This is Felix, not to be confused with the very talented Felix who's been standing behind the demo desk all day.

Felix is building remittances on WhatsApp and today they power more than 5% of the US Mexico remittance corridor.

This is the largest remittance corridor in the world. And this means that one in every $20 is piped through a single startup thanks to stable coins.

Now, importantly, this work is not about crypto for crypto's sake. It's about

enabling you to build fundamentally better experiences for your customers, your users, and their money. Stable

coins are here, and this is just the start for us. We have a lot to build together. With that, back to Nita to

together. With that, back to Nita to talk about what we're shipping for platforms. Here's my favorite part. We've saved the best

for the last. Today, Stripe powers more than 16,000 platforms serving over 11 million businesses. Some of the biggest

million businesses. Some of the biggest companies in the world from Shopify to Door Dash to Substack use Stripe Connect as the financial backbone of their software.

platforms are very core to getting financial services distributed to every corner of the economy and so we care deeply about helping you succeed and I know you've given us feedback on

this so almost every product we've talked about today we've built it natively for platforms I'll give you just two examples starting with Treasury we're rolling out embedded

components so you can offer your customers all The Treasury capabilities I showed you earlier. Companies like

Squarespace, Techon, and more are already using Treasury to become the financial home for their customers.

Last year, we announced Radar for platforms, which combats fraudulent accounts in addition to fraudulent transactions. New this year with Radar

transactions. New this year with Radar are AI generated risk scores along with detailed explanations and recommended actions so you can move faster to shut

down bad actors. We're seeing platforms using Radar like Styles Seat, Vimeo, Fair Harbor, the they seeing 5.3 times lower losses per fraudulent account. All

powered by the Stripe network.

But here's the thing. As your business scales, growth gets harder.

That's why today I'm super excited to announce that we're launching the platform growth studio.

It's a powerful recommendation engine that analyzes all the data we see across thousands of platforms running on Stripe and surfaces the best growth opportunities for your business. Let's

take a look.

Welcome to the platform growth studio.

Now, right away you can see your top metrics, things like your payment volume, your revenue, margin, and take rate, but also your top accounts. But

what's new this year is recommendations.

These are personalized suggestions for how you can grow your business. The

recommendations with the greatest impact are always right on top. Now, for

example, it's suggesting that I can improve my AC pricing. But how does Stripe know that? Let's take a look. And

it looks like I've lost $13,000 last month and 75 bips on every single AC transaction. Now, here's my take rate

AC transaction. Now, here's my take rate over time in green, but more interestingly is this line in orange, the benchmark generated from all the data across all the businesses on

Stripe. My peers are just doing a much

Stripe. My peers are just doing a much better job at monetizing than I am. And

so to pick my new pricing, I can use this simulator and I can play with a few different options. I could set it myself

different options. I could set it myself or I could just choose a Stripe benchmark. And I hit save and you can

benchmark. And I hit save and you can see it pop right in using my historical data. Now, let's go back to

data. Now, let's go back to recommendations.

A lot of growth is going to come from helping your users adopt new high margin products. And so, here, for example, I

products. And so, here, for example, I can see that with BNPL, I could stand to make another $12,000 a month. Now, only 13% of my accounts are

month. Now, only 13% of my accounts are using it. So, there's just a lot more

using it. So, there's just a lot more opportunity. So, to encourage adoption,

opportunity. So, to encourage adoption, I can create a campaign. I want to offer promotional pricing for these payment methods.

I will target everyone who's eligible and in just oh and I want to price it at the great rate of 1.5%.

And in just a few clicks, the campaign is live and the new pricing is effective immediately.

Thanks, Felix. What you just saw is the new platform, Growth Studio. You can

discover opportunities and take action on them all from the Stripe dashboard.

Now, I want to mention two additional products, capital and issuing. Stripe

capital is one of the most effective ways to stimulate growth on your platform. In fact, we ran a two-year

platform. In fact, we ran a two-year study and we found that when businesses accepted capital offers, they grew 27 percentage points faster than businesses

that didn't.

Today, I'm excited to announce a new form of capital, lines of credit. With a

line of credit, small businesses get a ton of flexibility. They can pull funds only as they need to. We're expanding

capital today to France and Germany with Australia and Canada to follow soon.

Now, issuing represents another massive opportunity for both platforms and fintex. Hundreds of companies like

fintex. Hundreds of companies like Navan, Rippling, Instacart, A form and more use Stripe issuing to distribute more than 350 million cards.

Today I'm going to share the largest set of upgrades that we've made to issuing since we launched it back in 2018.

We've recently added Radar for issuing.

Using Radar, Navan was able to reduce fraudulent disputes by 36%.

We're also adding debit cards to our consumer program and we're launching issuing for agents so that developers can now easily and more importantly

safely you saw how safe AI is give cards to a whole new kind of economic actor.

And finally, the same API developers use for fiat issuing can now be used for stable coin card issuing.

We're seeing incredible traction on stable coin backards. Fintexs like

Phantom, Ramp, Chiefs, and Zeps are all empowering their users to spend stable coins anywhere Visa is accepted.

Using stable coins, we're now able to offer Stripe issuing in 100 countries.

So to bring it all back, Stripe is built for platforms. We're shipping updates to Treasury and Radar optimized to your needs. We're giving

you a new growth studio powered by Stripe's data. And we're expanding the

Stripe's data. And we're expanding the capabilities of both capital and issuing. And as Henry shared, developers

issuing. And as Henry shared, developers everywhere can now build great products on stable coins with digital asset accounts.

Now to hear from one of the world's leading platforms, Shopify. Please

welcome Kate Royer, chief of staff at Shopify. And Will

Shopify. And Will Kate, welcome to sessions. Thanks for

being here.

Thanks for having me. This is exciting.

So, we just heard from Nita and sort of self-evident Shopify, one of the great platform companies in the world, but I feel like it's still almost slightly misunderstood because people think a lot about software and SAS when in fact you

guys have quietly become one of the world's largest financial institutions over the past decade or so. So, how does that factor into the strategy and what do you have to think about day-to-day to make that happen?

Yeah, I mean, I think Stripe has been a really great partner in all of our financial work or most of it anyway. Um

we really we've discovered that merchants especially those at scale you know they need global acquiring they

need sophisticated fraud tooling they need multicurrency payouts and you know so we had to adapt our product we you

know I guess among the the many things on the Shopify finance suite we have Shopify balance which is on top of you launched that a couple a couple three years ago four years ago something

like that. Yes. Um, and it's only

like that. Yes. Um, and it's only currently in the US. Um, but merchants love it. Uh,

love it. Uh, you know, it just simplifies their business banking needs. Anyway, we're

hoping to expand and, uh, Stripe's global footprint. Definitely makes that

global footprint. Definitely makes that possible faster.

You guys also do Shopify Capital. So,

you've got like a whole suite of financial services tools that you're bringing to your merchants.

That's right.

We're also partnering on money movement with digital assets. Our teams have been collaborating on stable coin storage and

I think I heard we will be coming we will be becoming a validator node on the tempo network.

Yeah, I heard that as well.

Yeah.

And so one of the other things that um Shopify is known for is driving growth for its users. And we made, you know, kind of a fun but quick announcement earlier that the Shopify catalog will

now be able to be discovered through ACS. So basically, if you're using the

ACS. So basically, if you're using the Aentic commerce suite, agents will be able to sort of surface Shopify products directly in their experiences. Tell us

more about the catalog. How does it work? Yeah. So, it's our global product

work? Yeah. So, it's our global product catalog, but I think what makes it special is that we have put in exceptional work to organize products

with structured data, clean attributes, real-time accuracy. These things are

real-time accuracy. These things are crucial for AI commerce so that agents can find quality results. you know,

black Vori leggings shipping to Canada or Glossier Boybrow in Auburn. Yeah,

we're now world class at these kinds of queries and increasingly complex queries will be supported.

And are we talking tens of millions, hundreds of millions of products?

No, more than that. Um the catalog API will give you access to millions of shops and billions of products.

Okay. So Shopify big.

Yeah. Go build amazing new commerce or shopping experiences.

So um an announcement which we didn't mention today but maybe people uh saw over the past week is that uh Stripe is excited to join the general committee of the universal commerce protocol.

Something that you guys pioneered. So

thank you for having us. Um and thank you to Google as well. Uh tell us about UCP just how did it come about and what makes it special?

Yeah, when we first started UCP with Google, we had one question.

Can you build a single protocol across the full commerce journey that supports any platform and has all the things that need to work to make a

transaction trustworthy? But a protocol

transaction trustworthy? But a protocol only really matters if the industry adopts it. And so that's what's most

adopts it. And so that's what's most excit exciting. Just last week it was

excit exciting. Just last week it was announced that Meta, Amazon, Salesforce and Microsoft are joining UCP and Stripe too.

Yeah.

Um so so yeah I think you know this for merchants and developers eliminates fragmentation. It's one

eliminates fragmentation. It's one standard to build on, one specification to implement, one community to support

its evolution. And I mean, I think this

its evolution. And I mean, I think this sort of marks an inflection point. We're

going to see an even further acceleration in Aenta Commerce.

On that note, you guys have always been sort of looking around corners with commerce experiences. What do you

commerce experiences. What do you foresee in the next couple of years for a commerce?

I mean, easy question. So hard to know that

easy question. So hard to know that part. But um I'm sure everyone here has

part. But um I'm sure everyone here has used an AI talked to an AI about I don't know like what to wear to a tech

industry conference. Your agent did a

industry conference. Your agent did a great job by the way. Well,

thank you.

Um, no, I mean, your agent knows your your style, your budget, your sizing, other relevant context.

But lately, what has happened, and I think we'll see more of this, is sort of these unique finds. Um, the the sort of items you delight in, things that make

for really thoughtful gifts.

You know, recently, as an example, an engineer on on my team had had a baby and my agent helped with baby gift

ideas. And one of them was this book, a

ideas. And one of them was this book, a super small production run, but it's called Computer Engineering for Babies.

It's a baby book. It's just adorable.

And Shopify.

Um, it's the perfect gift. Uh so anyway, I think these things used to be hard to find or serendipitous at best and agents will do this way better. But

I should note that it's a lot more than just syncing a product feed to agents. You know,

someone needs to check the inventory, uh, calculate the taxes, loyalty programs and discounts, process the payment, prevent any fraud, and oh yeah, get the things to your door.

Yep.

And this is really where Shopify excels.

For over 20 years, we've been unifying this kind of complex commerce life cycle into, you know, what we hope is one magical

experience.

We love the partnership. Thank you for being here.

Thanks for having me. Thanks everyone.

All right.

So, we started off this morning talking about the rise of agents. But agents are only as capable as the models and the data that power them. And Patrick shared

earlier that last year 1.6% of global GDP ran on Stripe. Well, that amounted to last year 70

data points flowing through our systems. So for years, our models trained on all that data have worked quietly in the background powering many of the products you saw today.

We've heard from you that you want more than that. You don't just want the

than that. You don't just want the results in the products. You want the actual intelligence behind them. It's a

programmable, flexible building block.

So today, we're introducing something very exciting that gives you and your agents exactly that. It's called Stripe Signals.

So, Stripe Signals gives you direct access to our network intelligence. Send

us a customer, a transaction, a business on or off stripe, and we return a score and an explanation in real time. Is this

transaction risky? Can I trust this business? How can I help convert this

business? How can I help convert this customer?

Stripe's network data is one of the most valuable assets in commerce and signals distills that value and puts it in your hands.

Cursor, Door Dash, Non, Cloudflare, and 11 Labs are all already building signals and we're launching with 10 signals today and many more are on the way.

Now, we've covered a lot today across payments radar revenue money management, and embedded finance. In all

of it, every single launch has been inspired by your ideas and your feedback. But believe it or not, there's

feedback. But believe it or not, there's even more, a lot more that we didn't have time to get to. So, I'm excited to announce that there's finally somewhere

you can see it all. Our brand new public road map.

Yeah.

You've been asking us for this for years and Candon, it's kind of my fault you don't have it, so I'm sorry, but it's live now at stripe.com/roadmap.

You know, we know that many of you are designing your road maps around ours.

So, we really care that you know what's coming. This road map is the real deal.

coming. This road map is the real deal.

It's a precise itemized list with hundreds of detailed entries going through Q1 2027. And of course, it won't stay static. You know, we're moving at

stay static. You know, we're moving at breakneck speed, so we'll be adding to it consistently.

Now, we strive to make Stripe the fastest improving infrastructure in the world. So, to that end, if you look

world. So, to that end, if you look underneath all the individual products here, we've made some deep architectural upgrades to Stripe, making Stripe even more programmable, so you can run as

much of your business on Stripe as you want and build entirely new business models on our primitives.

We're activating the Stripe network. You

all are a coalition of the world's fastest growing companies. This network

should serve to protect and propel your business.

And of course, we're building the economic infrastructure for AI.

You know, the agentic era isn't coming soon. It's happening right now. So, I

soon. It's happening right now. So, I

hope you leave today with a bunch of specific ideas for how to seize this moment. It'll be shaped by what all of

moment. It'll be shaped by what all of you in this room build, what we can build together. It's going to happen

build together. It's going to happen fast.

Thank you everyone and enjoy Stripe sessions.

Thank you for joining us to Yeah, I'm way too pick up what I'm putting down. You know

it's that simple. Yeah, I'm the boss with the tempo.

I'm the endless with a pencil. Yeah. Now

watch me eat up. Catch me on the floor with a fine senorita. They be like, "Whoa, how you make it look so easy?" I

be like, "Oh, okay. Now let me teach you." Come on.

you." Come on.

Got them looking like