The software, known as Stripe Treasury, embeds financial services using application programming interfaces (APIs) onto Stripe's platform, allowing its customers to send, receive and store funds, the company said https://stripe.com/newsroom/news/treasury.

The San Francisco-based firm said it is partnering with Goldman Sachs and Evolve Bank & Trust to expand its services in the United States, and partnering with Citibank and Barclays for a more global reach.

Stripe added that Canadian e-commerce company Shopify has extended its partnership for Shopify Balance, a business account tailored for the use of independent businesses and entrepreneurs.

(Reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel)