the magnetic strip on a credit card is called a stripe and it rhymes with swipe. I find it extremely hard to believe the origin is not more directly that.
(Stripe in context evokes the magstripe of a payment card for me too.)
The AI generated answer in full (which the article apparently linked to when the first OP here responded):
Stripe, the company that provides a suite of payment APIs and tools, was founded in 2010 by brothers Patrick and John Collison. The company's name is said to have been inspired by the word "strip," a reference to the simplicity and elegance of the company's platform, which "strips away" the complexity of traditional payment systems. Additionally, the company's logo features a stylized blue and white stripe, which also contributes to the name.
> The monarch with the highest regnal number in history is Sobhuza II of Swaziland, who reigned for 82 years and 254 days
which is clearly incorrect (2 is not a very big number), and yet gets its own nice answer highlight at the top of Google (where the AI generated nature of the answer is not noted at all).
Unfortunately our software replaced it with the generic https://www.quora.com/How-did-Stripe-come-up-with-its-name/ because that's what Quora is listing as the canonical URL. We've corrected this in the submission link above. Sorry for the confusion!
More interesting is how PayPal was supposed to be some stupid company X.com that did everything. That didn't stick nor did the premise nor did the person who thought of it (Elon Musk).