US' Amazon & Stripe ink deal to streamline online payments, push e-com

25 Jan '23

2 min read

Pic: Shutterstock/ Ioan Panaite

American e-commerce giant Amazon and Stripe have signed a global agreement under which Amazon will significantly expand its use of Stripe’s core payments platform and Amazon Web Services (AWS) will provide crucial compute infrastructure to help Stripe serve millions of businesses around the world. The partnership announcement marks a new chapter in the two companies’ relationship spanning over a decade.

Amazon started using Stripe in 2017 to accelerate market expansion in Asia and Europe, and support millions of Prime Day, Black Friday, and Cyber Monday purchases around the world. 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. Stripe will be used across Amazon’s business units, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime, and more, according to a joint press release by both companies.

“Stripe has been a trusted partner, helping accelerate our business at every turn,” said Max Bardon, vice president of payments, Amazon. “In particular, we value Stripe’s reliability. Even during peak days like Prime Day, Black Friday, and Cyber Monday, Stripe delivers industry-leading uptime. We appreciate Stripe’s relentless commitment to putting users first.”

Stripe has long relied on AWS to provide the core compute infrastructure on which Stripe is built. The partnership has allowed Stripe to increase developer productivity and accelerate product development even as Stripe has scaled to support millions of internet businesses around the world. Under the new agreement, Stripe will continue to expand its AWS footprint and transform global commerce by taking advantage of AWS’s rapidly expanding suite of services, including Graviton for efficiency and performance in data processing, and Nitro enclaves to enhance data security.

“We couldn’t run without AWS—and we wouldn’t want to,” said David Singleton, chief technology officer of Stripe. “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 honoured to do our part supporting Stripe’s continued global growth for years to come.”

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