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

January 30, 2023 | FinTech, News
https://dailyalts.com/wp-content/uploads/2023/01/5283780270_f879e35a1b_c-1.jpg

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

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/03/Buy-1.jpg
Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
March 31, 2023     Digital Assets, News, Venture Capital

Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance…

https://dailyalts.com/wp-content/uploads/2023/03/Three-phones-dropping-v3-2021-prosumer.jpg
FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
March 31, 2023     ESG and Sustainability, FinTech, News

Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in…

https://dailyalts.com/wp-content/uploads/2023/03/steven-hwg-zBsdRTHIIm4-unsplash.jpg
Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
March 31, 2023     Latest News, News, Venture Capital

The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life…

https://dailyalts.com/wp-content/uploads/2023/03/faq26.jpg
Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
March 31, 2023     Artificial Intelligence, News

Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning….