San Francisco-based payment processing company Stripe is launching its services in Canada, according to Wired. The company has been aiding merchants in the United States to accept credit cards from online transactions in a cost-efficient way.

Traditionally, businesses who wanted a convenient way for online transaction processing had to either get a merchant account or use a payment gateway. Since its launch in 2011, Stripe offered a third option by setting up merchant accounts with banks, eschewing the need for retailers and businesses to do so. According to the news source, using this service, a few lines of code on a merchant's website can produce a fully customizable payment form.

Backed by $38 million in cash, the company is launching its international expansion, starting with Canada. Stripe has been beta testing its services with several Canadian companies over the past few months, including e-commerce retailer Shopify.

"We got hooked on offering Stripe's services to our customers because they understand how simple it can be - and should be - for businesses to grow and transact online," Shopify CEO Tobias Lütke told the news source. "For Canadians, this means more choice for purchasing a variety of products and services from businesses, which are now able to operate online."

Other merchants who have been involved in the beta testing process have lauded the service's benefits to small businesses. Startups and niche retailers looking to avoid complicated dealings with banks could benefit from the credit card processing convenience of Stripe's offerings. Beginning with its foray into Canada, the company is looking to invest its capital to open more international offices and improve its infrastructure and regulatory processes, according to Wired.