I have a US based business. I am developing an app like Coinbase but for the Indian market. I need to be able to accept payments (money transfers) from bank accounts (no credit cards) and need to credit/debit the customers account when they sell/buy something. Is this possible with Stripe? I chatted with support and they pointed me to Stripe Connect but as I understand from the connect page:
Stripe Connect is our solution for building a platform, marketplace, or other business that orchestrates money movement between multiple parties.
This is not my use-case. I am not building an Uber or AirBnb. there are no multiple parties here and I am not developing a marketplace. The requirements are:
- accept payment from indian bank account (both credit and debit)
- my bank account is in US. customers account is in India
if anyone has done something similar and knows how to do it please let me know. thanks
PS: if the solution is to open a bank account in india, then is it better to use stripe or a local provider like paytm?