Stripe, last valued at $95bn (€95bn), cut the internal value of its shares by 28% this week, putting the company's valuation at $74bn valuation, according to reports.

The company told employees in an email that its internal share price was about $29, compared with $40 in the previous internal valuation, a report but the Wall Street Journal said.

This cut comes two weeks after Fidelity Investments marked down the value of its stake in Stripe by 35%, as reported by the Business Post. This was the second time this year that Fidelity repriced its stake in the company.

Earlier this month, Swedish payments firm Klarna, once Europe's most valuable start-ups, raised funds at a valuation that was more than 80% lower than the $46bn price-tag it attracted last year.

Listed digital payment giants PayPal and Block Inc have also seen their shares plummet more than 60% each so far this year.

It is unclear if Stripe is still mulling over an IPO this year after these recent developments in the fintech space. 

Last year, the digital payments processor Stripe took its first major step toward a stock market debut by hiring a law firm Cleary Gottlieb Steen & Hamilton to help with preparations, according to people familiar with the matter.

Stripe was considering going public through a direct listing, rather than a traditional IPO, because it does not need to raise money, said two Reuters sources, cautioning that those plans could change.

Stripe has been one of the most successful businesses to come out of Ireland. Founded by the Collison brothers in San Francisco in 2010, it now employs around 8,000 people around the world and over 300 people in its Dublin headquarters.

Stripe operates in 47 countries and its clients include Amazon, Slack, and Shopify.

In its early stages, Stripe took part in one of the most competitive accelerator programmes, YCombinator. It then received VC investment Sequoia.

The Stripe brothers did not comment for this piece.

Reuters with additional reporting from the Irish Examiner