Why is Stripe updating verification requirements?

Stripe regularly reviews and updates its verification requirements to provide best-in-class protections for users. For US businesses accepting card payments and for any individuals who ultimately own, control, or direct the business, Stripe is updating how they collect, validate, and verify business information. As a result, your business may need to provide updated information. Stripe's goal is to help ensure your safe and uninterrupted access to the payments ecosystem.

How do these changes affect me?

Stripe will contact users via email and updates to the Stripe dashboard requesting additional information and deadlines for responses. If an account doesn't provide the required information by the posted deadlines, payments and payouts will be paused.

Please reference the dates specified in Stripe's outreach for applicable deadlines.

For more details, please refer to this article.