FinTech: Stripe Becomes Primary Payments Infrastructure For BMW Of North America

January 30, 2023 | FinTech, News

BMW will use Stripe Connect to track payments and revenue from online sales to dealers.

Stripe, the fintech firm, has been chosen by BMW of North America to handle its US ecommerce, including preorders and online sales of BMW warranties, maintenance, digital services, and more. The move comes as automakers seek digital solutions to meet rising customer expectations.

BMW will use Stripe Connect to track payments and revenue from online sales to dealers. The platform will also power the BMW ConnectedDrive Store and My BMW App, enabling secure card storage and efficient revenue tracking for BMW. (Stripe Newsroom)

Stripe – BMW NA

Stripe therefore becomes primary payments infrastructure for BMW of North America. Accordingly, US vehicle preorders and online purchases of extended warranties, maintenance, and digital services will be facilitated by Stripe.

In addition, BMW ConnectedDrive Store and My BMW App payments will run on Stripe.

“Our primary focus at BMW is to create and provide the best premium customer experience for our owners,” said Marcus Casey, chief marketing officer, BMW of North America. “Stripe helps us offer BMW owners a secure and seamless payments experience across all channels.”

“Stripe is helping BMW of North America enhance the premium automotive shopping experience,” said Mike Clayville, chief revenue officer at Stripe. “We’re thrilled to support their mission of providing the best possible customer experience.”

Stripe – Amazon

Earlier this month, Amazon (NASDAQ: AMZN) and Stripe announced an expanded global partnership that deepened their long-standing relationship.

Under the new agreement, Stripe becomes 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.

Related Story:  Amazon And Stripe Agree To Expand Existing Relationship

Image Credit: Flickr

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