Financial management solution Fiskl has deepened its partnership with Stripe to enable multi-currency payments and advanced reconciliation for global small businesses. Fiskl's seamless integration with Stripe Connect enables small businesses to seamlessly accept payments from clients worldwide in multiple currencies.

The platform automatically tracks payment status, marks invoices as paid, and categorises payment processing fees, simplifying multi-currency accounting for business owners. Automated multi-currency reconciliation with Stripe Fiskl’s newly released deep Stripe virtual bank feed reconciliation automatically handles scenarios involving bulk payouts in multiple currencies. When a small business customer takes payments from clients in various currencies, the funds accumulate in their Stripe account before being transferred to their actual bank account through Stripe payouts.

Fiskl's comprehensive integration breaks down all payments in the relevant accounts automatically, auto-categorising them correctly in the chart of accounts, client, vendor tax, and payment processing fees, regardless of the currencies involved. This ‘zero touch’ reconciliation is a key benefit for businesses dealing with multi-currency transactions. Stripe’s officials said they’re making their platform more modular, so companies can use just the parts of Stripe most useful to them.

Fiskl aims to adopt stablecoin payments through Stripe Connect Looking forward, Fiskl plans to integrate more Stripe Connect elements and explore the offering of stablecoin payments. Stripe will begin supporting global stablecoin payments in the summer of 2024. Transactions will instantly settle on-chain and automatically convert to fiat currency.

Fiskl sees this as a transformative moment that will unlock new opportunities for global commerce. Stablecoins offer a fast, secure, and cost-effective way to send and receive payments across borders without the volatility of traditional cryptocurrencies. By integrating stablecoin support into Fiskl’s platform through Stripe Connect, they will enable their users to tap into new markets, reduce transaction fees, and streamline cross-border payments better.

This is particularly significant for small businesses in emerging markets, where access to traditional banking services can be limited. With stablecoin payments powered by Stripe and Fiskl, entrepreneurs around the world will have a more level playing field to participate in the global economy. Fiskl also intends to launch a Stripe app in the second half of 2024, further enhancing the value proposition for its customers.

Their expanded Stripe payments and comprehensive integration is now available to all customers, offering a truly global solution for small businesses and accountants seeking to streamline their payment and accounting processes. .