Financial infrastructure platform for businesses Stripe today announced that it processed $1.4 trillion in total payment volume in 2024.
The result is up 38% from the prior year, and equivalent to around 1.3% of global GDP.
In their annual letter to the Stripe community, cofounders Patrick and John Collison attributed the rapid growth to long-standing investments in artificial intelligence that “continue to pay off, increasing revenue for existing customers, encouraging more businesses to switch to Stripe, and helping new companies reach significant scale unprecedentedly quickly…In each of the last six years, Stripe has reinvested a much higher proportion of our earnings in R&D than any comparable company. We believe this ability will prove particularly important in the coming years, as stablecoins, AI, and other forces reshape the landscape. Stripe’s growth to date is evidence of the intense market demand for programmable financial services. The associated transformation is still early.”
Stripe has invested in AI models that are delivering significant revenue and performance uplifts for its users. Hertz increased authorization rates by 4% when it moved its payments to Stripe, while Forbes saw a 23% boost in revenue with Stripe managing its subscription payments. Carsharing marketplace Turo captured $114 million in additional annual revenue with Stripe’s Optimized Checkout Suite.
With AI set to change how online commerce works, Stripe is also optimizing its products for AI agents. Over 700 agent startups launched on Stripe last year, and the company revealed that its toolkit for developers building AI agents is already being downloaded thousands of times a week. ElevenLabs used Stripe’s toolkit to let a voice agent autonomously manage subscriptions and refunds, while Perplexity and Payman are using Stripe to enable new agentic ways to spend and move money.
As tangible uses for stablecoins emerge and transaction volumes surge, Stripe is already helping some of the world’s largest organizations to assemble stablecoin strategies. Last year, Stripe acquired stablecoin orchestration platform Bridge.
“Improvements to the basic usability of money make economies more prosperous. Consider the transitions from coins to banknotes, from the gold standard to fiat currency, and from paper instruments to electronic payments. Stablecoins are a new branch of the money tree. Such transitions occur with some regularity over the centuries, and the effects tend to be large,” wrote the Stripe cofounders.
