Stripe and Amazon want to fuel the future of ecommerce
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Amazon has signed a new deal with Stripe that will see the first ecommerce platform relying more on the latter’s payment processing technology, which in turn equips it with AWS computing infrastructure to support its operations.
Amazon has been using Stripe for about half a decade to “accelerate market expansion” in Europe and Asia, in addition to using the tool to support payments for major events such as Prime Day, Black Friday and Cyber Monday, helping the shopping platform recognize Stripe’s integrity during peak times.
A renewed partnership is planned to see the two companies work together even further, leading to what they hope will be a better online shopping experience worldwide.
Amazon uses Stripe
“We appreciate Stripe’s reliability,” said Max Bardon, vice president of payments at Amazon, “Even during peak days…Stripe delivers industry-leading uptime. We appreciate Stripe’s unwavering commitment to putting users first. “
In addition, director of global payment acceptance and customer experience, Ben Volk, also acknowledged that Stripe can process more than 150 local payment methods, allowing Amazon to be more responsive in more places.
The new deal will see Amazon use Stripe as a strategic payments partner in some of its largest markets – the US, Canada and Europe – which account for a “significant portion” of the company’s payments. It will be used across Amazon’s many businesses, including Prime, Audible and Buy with Prime, which have recently expanded to more third parties.
In return, Amazon will provide even more of its AWS services to Stripe, which has helped the company drive productivity and development for more than a decade.
Stripe Chief Technology Officer David Singleton said:
“As we look to the next decade, it’s clear that the best way forward for Stripe and for our users is to work more closely with Amazon.”