1Password chooses Stripe Billing to power subscriptions

• 1Password will use Stripe Billing to manage over a million subscriptions across businesses and consumers.
  
• Stripe uses 1Password as part of its multi-layered approach to security.
  

TORONTO-Stripe, a financial infrastructure platform for businesses, today announced that it will power over a million subscriptions for 1Password. 1Password will use Stripe Billing to manage subscriptions across its consumer and business segments and Stripe Radar, Stripe's fraud prevention solution. 1Password serves as Stripe's enterprise password manager as part of its multi-layered approach to security.

Headquartered in Toronto and founded in 2005, 1Password is a leader in identity security. Trusted by over 150,000 businesses and millions of consumers, 1Password offers an Extended Access Management solution that secures every sign-in for every app on every device. The company is on a mission to deliver enhanced security and user productivity. 1Password has expanded its business-to-business customer base and it now accounts for over two-thirds of the company's total revenue.

"We've evolved our business model to cater to a wide range of customers, from individuals to enterprises, which comes with unique challenges like offering multiple pricing tiers and different billing cycles," said Julian Teixeira, 1Password's chief revenue officer. "Stripe Billing made it easy for us to handle that complexity, so we can focus on what really matters-building great products and growing our business globally."

With Stripe, 1Password will enable its subscribers to pay using their preferred payment methods, like ACH direct debit and credit cards. By using Stripe Radar, 1Password reduces fraud and false declines in its checkout experience. Additionally, card account updater and network tokenization will help 1Password protect its revenue, increase authorization rates, and reduce the churn caused by changes in customers' credit cards.

Stripe has long relied on 1Password as its enterprise password manager. "At Stripe, we take data security seriously. That's why we not only adhere to the strictest industry standards like PCI-DSS, but also empower our workforce to use an enterprise password manager like 1Password. By generating and safeguarding complex, unique credentials, we eliminate a major vulnerability and give our information the multi-layered protection it deserves," said Joe Camilleri, chief information security officer of Stripe.

Stripe Billing helps over 300,000 companies manage the intricacies of how much and when to charge individual customers. After being named a Leader by Gartner in August, Billing is now Stripe's second product, alongside its payments suite, to be given a top ranking by industry analysts. At Stripe Tour New York, Stripe announced major upgrades to Billing, including multiprocessor support, improved analytics and enhanced usage-based billing.