Stripe to begin offering bank accounts

Limerick brothers Patrick and John Collison say banks  will now be able to offer checking accounts and other financial services through e-commerce providers

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

Stripe will team up with some of the world’s largest banks to offer checking accounts to businesses that sell their wares on e-commerce platforms such as Shopify.

Stripe, founded by Limerick brothers Patrick and John Collison, said banks including Citigroup, Goldman Sachs Group and Barclays will now be able to offer checking accounts and other financial services through e-commerce providers. If a coffee shop, for instance, uses Shopify to sell mugs and coffee beans online, it will now be able to open a bank account too.