Amazon, Stripe Expand Partnership Globally to Boost eCommerce
The Irish-American fintech company Stripe and eCommerce behemoth Amazon have signed an expanded global agreement which has deepened the long standing partnership of the two companies.
In an official press release, Stripe revealed that this agreement would lead the partnership with Amazon, which began in 2017, to new heights and boost eCommerce globally.
After this announcement, Stripe is set to become a strategic payments partner for Amazon in the US, Europe, and Canada, processing a "significant" portion of the total payments volume of this eCommerce giant, across its businesses, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime, and more.
“In particular, we value Stripe’s reliability. Even during peak days like Prime Day, Black Friday, and Cyber Monday, Stripe delivers industry-leading uptime. We appreciate Stripe’s relentless commitment to putting users first,” says Max Bardon, VP, Payments, Amazon.
As part of the new agreement between the companies, Stripe said it would “expand its use of Amazon Web Services,” which has served as Stripe’s cloud infrastructure provider, to operate and grow its business worldwide.
David Singleton, CTO, Stripe, says, “We couldn’t run without AWS—and we wouldn’t want to. AWS is our customers’ first choice. The platform gives Stripe enormous developer leverage, which we then deploy in service of our users.”
What is ‘Stripe’?
Founded in 2010 in United States Stripe, is an Irish-American financial services and software as a service company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland.
It is a popular payment processing platform that allows businesses to accept and manage online payments. It supports a wide range of payment methods, including credit and debit cards, ACH payments, and digital wallets like Apple Pay and Google Pay.
Stripe provides a simple API that lets developers quickly integrate payment functionality into their websites and apps. Stripe also offers features such as recurring billing, fraud detection, and compliance with PCI DSS standards for handling sensitive cardholder data.
Disclaimer:
Amazon is the registered trademark of the e-commerce brand.
Stripe is the registered trademark of the fintech company.
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