Payments company Stripe is to create "hundreds" of additional engineering jobs in Dublin over the next three years.

The new roles are separate to the more than 1,000 positions it promised to create over five years in March.

The company is not being specific on the number of jobs that are likely to result from the further expansion in the capital, but sources said it could be as many as 500 depending on growth.

Founded by Irish brothers, Patrick and John Collison, Stripe currently employs around 400 people in its Dublin office which it opened in 2016 and acts as its international headquarters.

"Ireland has emerged as a global leader in software development, and Stripe’s Dublin engineering hub has been enormously successful in building new product features and driving our international expansion," said Matt Henderson, EMEA Business Lead at Stripe.

"So it makes perfect sense for us to double-down on Ireland as we grow our engineering presence in Europe."

The development has been welcomed by the Government which has backed the additional investment through IDA Ireland.

"Patrick and John are a truly remarkable Irish success story and have grown Stripe into a world leading technology company," said Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar.

"This project which is supported by the Government will add hundreds of highly skilled engineering jobs over the next three years, and I wish the team every success."

IDA Ireland chief executive Martin Shanahan said the opportunity to pioneer new approaches to global money movement here in Ireland will have a lasting and positive impact at home and abroad.

"The growth of Stripe's Dublin Engineering Hub will serve to further embed Ireland as a recognised global software leader, and the hundreds of new jobs being created will make a significant contribution to the national economy," he said.

Dublin is Stripe's fastest growing international office and plays host to a range of teams, including an engineering hub.

Earlier this year, the company launched Stripe Tax, a new product to help businesses automatically calculate and collect sales tax, VAT, and goods and services tax in over 30 countries, which was built by engineers in Dublin.

The office has also led the firm’s global expansion into new European, Middle East and African markets in recent times.

Stripe now operates in 44 countries around the world and its services are used to process hundreds of billions of dollars of payments each year.

The company was valued at €80 billion following its last funding round of €500m in March, which involved investors including the National Treasury Management Agency and Allianz X.

Earlier this year a new Immersive Software Engineering course was launched at University of Limerick, backed by Stripe.