FinTech: Amazon And Stripe Agree To Expand Existing Relationship

January 24, 2023 | FinTech, News

Stripe will process a significant portion of Amazon’s total payments volume.

Amazon (NASDAQ: AMZN) and Stripe have announced an expanded global partnership that will see the two companies deepen their long-standing relationship.

Under the new agreement, Stripe will become a strategic payments partner for Amazon in the US, Europe, and Canada, processing a significant portion of Amazon’s total payments volume across its businesses, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime, and more. This new partnership marks a new chapter in the two companies’ relationship. (Stripe Newsroom)

The two companies started working together in 2017 when the eCommerce giant stepped up its market expansion across Asia and Europe. Stripe also supported the millions of transactions across the globe for purchases of Prime Day, Black Friday, and Cyber Monday.

Stripe will expand its use of Amazon Web Services, its long-standing cloud infrastructure provider, to run and grow its business while reliably serving millions of internet companies.

“We couldn’t run without AWS—and we wouldn’t want to,” said David Singleton, chief technology officer. “AWS is our customers’ first choice. The platform gives Stripe enormous developer leverage, which we then deploy in service of our users. As we look at the decade ahead, it’s clear the best path forward for Stripe and for our users is to partner more closely with Amazon.”

“Stripe has entrusted AWS with their core operations for over a decade—and we take that responsibility seriously,” said Adam Selipsky, CEO of Amazon Web Services. “In expanding our partnership, we’re honored to do our part supporting Stripe’s continued global growth for years to come.”

Related Story:  Shipping And Logistics Giant Maersk Turns To Stripe For International Payments

Image by Gerd Altmann from Pixabay

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