FinTech: Stripe Becomes Primary Payments Infrastructure For BMW Of North America
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
Latest Alternative Investment News
Pluto, a prominent provider of financial corporate spend management solutions in the UAE, has forged a strategic alliance with Mastercard (NYSE: MA), the global technology giant in the payments sector….
Alternative Investments/Real Estate: Alternative Investing Platform Yieldstreet Acquires Real-Estate Focused Cadre
Yieldstreet, a prominent private market investment platform, has officially announced its acquisition of Cadre, an online real estate-focused investment platform catering to institutional and high net worth investors. This strategic…
Ursa Major Technologies recently closed its Series D and D-1 funding rounds, securing a substantial $138 million investment led by Explorer 1 Fund and Eclipse, with participation from RTX Ventures,…
Artificial Intelligence: Saudi Venture Fund Forced To Sell Shares In Altman-Backed Chip Startup Rain AI
The Biden administration has compelled Saudi Aramco (TADAWUL: 2222)-backed venture capital firm, Prosperity7, to divest its shares from Rain Neuromorphics, a Silicon Valley AI chip startup supported by Sam Altman,…