On June 26, 2023 we updated our Stripe Services Agreement, Stripe Connect Platform Agreement and Stripe Connected Account Agreement which apply to the use of specific Stripe products in India. More information on these changes, including a summary of the most notable changes and when they take effect, is outlined below.

What is changing?

Some of the notable changes include:  

Stripe Services Agreement

• Stripe is regulated by the Reserve Bank of India in our capacity as a payment aggregator. To reflect this regulatory status, our online terms now incorporate our obligations and also expectations from users of our payment processing services, in accordance with the Reserve Bank of India issued Guidelines on Regulation of Payment Aggregators and Payment Gateways dated March 17, 2020 (and clarifications). Broadly speaking, these changes pertain to our settlement and payout schedule, service requirements, complaint redressal mechanism, your security controls and your disclosures to customers.
• To further align with the applicable legal framework, we have also made some clarifying changes to the existing tax terms, with respect to the tax invoicing and TDS reimbursement process.

Connect Platform Agreement

• We have made some changes to better reflect the settlement mechanism in accordance with the Indian legal framework, and clarify your obligations from a tax assessment and remittance payment standpoint.

Connected Account Agreement

• We have included supplemental terms regarding usage of services and the Stripe Account in accordance with Your Platform Agreement.

FAQ

When will these changes go into effect?

For our existing users in India, the updated terms will take effect on July 26, 2023 (except for Stripe Connect Platforms with Custom or Express Accounts in India, and those Custom and Express Accounts, for whom the updated terms will take effect on August 25, 2023).

If you do not agree to the updated terms, you will need to stop using Stripe, and close your Stripe account before these terms become effective. Your use of our products and services after the effective date will be subject to these updated terms.

The updated terms take effect immediately for new users in India.

Do I need to take action?

If you accept the updated terms, you don’t need to take any action, unless you are a Connect Platform user. (If you are a Connect Platform user, see below).

I’m a Connect Platform user. What do I need to do?

If you use Connect and have Custom or Express accounts in India, you are responsible for notifying these users of the updated terms, and we request you do so by July 26, 2023. We suggest you use your usual method of updating your users on important changes (e.g., by email), and we recommend including the following information:

“Stripe is updating its legal terms. You can read the Stripe Connected Account Agreement (incorporating the Stripe Services Agreement) and related terms here. The updates to the terms will take effect on August 25, 2023. No action is needed from you, but by continuing to use Stripe’s services after that date, you are agreeing to the updated terms. You can learn more about these updates on Stripe’s FAQ page here."

If you use Connect with Standard accounts, there’s no action needed from you—we’ve already let your Standard users know about the changes.

Connect Platforms based outside India: If you are a Connect Platform user based outside of India, the updated terms do not apply to your use of Stripe (and your existing terms remain applicable), but you are responsible for notifying your Custom and Express accounts in India of the updated terms as mentioned above.

Does this update affect other terms I have agreed to with Stripe?

You can find our updated terms, which are labeled as “Last updated: June 26, 2023,” at https://stripe.com/en-in/legal/ssa. If you have agreed to other terms with Stripe for the use of a Stripe service which take precedence over these online terms, those other terms are unaffected by this change.

Where can I see the prior version of these terms?

The prior version of the terms for India are located here for the Stripe Services Agreement, here for the Stripe Connect Platform Agreement, and here for the Stripe Connected Account Agreement.