Amazon expands its payment service with Stripe

Stripe and Amazon have worked together for years. Now, the two companies have decided to deepen their global cooperation: Stripe will process a large part of payments in three important regions and will benefit from greater access to Amazon Web Services.

Amazon and payment service provider Stripe want to intensify their global cooperation in the future. As a strategic partner, Stripe will process the majority of Amazon’s total payment traffic in Europe, the United States and Canada. This includes companies Prime, Audible, Kindle, Amazon Pay and Buy With Prime.

In return, Amazon, through its Amazon Web Services (AWS) service, will provide Stripe with the cloud infrastructure needed to support the company’s growth.

Global cooperation

Amazon has been using Stripe’s payment solution since 2017 to drive its expansion into Asia and Europe. Additionally, Amazon uses the technology to process millions of payments during particularly difficult times such as Prime Day, Black Friday and Cyber ​​Monday.

Stripe provides the technical infrastructure for online payments in Internet businesses, including APIs. Businesses can use the software to receive and make payments or manage their online business.

In its “Stripe Checkout Report 2022”, the payment service shows how important a smooth process is for payments in online shops. In the analysis, Stripe looked at the payment processes of major e-commerce websites around the world. One result: 97% of German online retailers have an inadequate checkout process. Checkout processes are often too cumbersome and customers cannot find the preferred payment option, leading to purchase cancellations.

Emily Bond

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