Stripe workers who relocate get $20,000 bonus and a pay cut

The company will make the offer available to workers who choose to relocate before the end of the year

The Collison brothers - Patrick and John - founded the mobile payments tech company Stripe.

Stripe plans to make a one-time payment of $20,000 to employees who opt to move out of San Francisco, New York or Seattle, but also cut their base salary by as much as 10%, according to a person familiar with the matter.

The payments processor founded by Limerick brothers Patrick and John Collison will make the offer available to workers who choose to relocate before the end of the year, said the person, who asked to remain anonymous to discuss private details. But employees opting to move may have to relinquish some of their base pay.