US-based financial services company Stripe Inc. on Monday said that it will no longer process payments for US President Donald Trump's campaign website following last week's riot at the Capitol, according to people familiar with the matter.
The financial-technology company handles card payments for millions of online businesses and e-commerce platforms, including Trump's campaign website and online fundraising apparatus, reports the Fox Business.
Stripe is cutting off the president's campaign account for violating its policies against encouraging violence, the people said.
Spokespeople for the Trump campaign didn't immediately respond to a request for comment.
Stripe asks users to agree that they won't accept payments for "high risk" activities, including for any business or organisation that "engages in, encourages, promotes or celebrates unlawful violence or physical harm to persons or property," according to its website.
The company has previously disabled accounts in the wake of violent acts. After a gunman killed 11 people in an attack on a Pittsburgh synagogue in 2018, Stripe cut off Gab.com—the right-wing social-media platform where the alleged shooter posted anti-Semitic messages.
A number of companies have cut ties with Trump's since Wednesday's attack, which left five people dead. Twitter Inc. on Friday banned Trump's personal account from its platform, citing a risk of further incitement of violence, while Canadian e-commerce company Shopify Inc. took stores run by Trump's business and campaign offline.
Some political-action committees are also halting donations to Republican lawmakers who objected to President-elect Joe Biden's Electoral College win after supporters of Trump stormed the Capitol.
After the election, Trump's campaign launched a fundraising blitz to raise money for legal battles challenging Biden's victory in several states. The effort brought in hundreds of millions of dollars for Trump's political committees and the Republican party.