Amazon and Stripe deepen their partnership

The new agreement builds on a partnership that started in 2017

Image by Gerd Altmann from Pixabay

On January 23, Amazon and fintech company Stripe announced they are expanding their partnership. The ecommerce giant began utilizing Stripe in 2017 to facilitate millions of Prime Day, Black Friday, and Cyber Monday purchases globally.

Here are some key points:

• Stripe will work closely with Amazon to handle payments across all of its business units, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime in the US, Europe as well as Canada.
• On the other hand, Stripe will increase its reliance on Amazon Web Services (its cloud infrastructure supplier). It will employ AWS’s Graviton for data processing efficiency and performance, as well as Nitro Enclaves for data security.

The announcement is yet another testament of Stripe’s increasing importance and dare I say ubiquity in the global payment ecosystem.

This story was first published on The PhilaVerse (my Substack newsletter).