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Stripe scores major Amazon deal

Stripe scores major Amazon deal

Stripe has become a strategic payments partner for Amazon in the US, Europe, and Canada, processing a "significant" portion of the tech giant's total payments volume across its businesses, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime, and more.

The global agreement builds on a partnership that began in 2017, when Amazon began using the payments firm to accelerate market expansion in Asia and Europe.

Max Bardon, VP, payments, Amazon, says: “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.”

The deal also sees Stripe expand its use of Amazon Web Services as its cloud infrastructure provider. Stripe will use AWS's Graviton for efficiency and performance in data processing, and Nitro enclaves to enhance data security.

David Singleton, CTO, Stripe, says: “We couldn’t run without AWS—and we wouldn’t want to. AWS is our customers’ first choice. The platform gives Stripe enormous developer leverage, which we then deploy in service of our users.”

Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.

Comments: (1)

A Finextra member
A Finextra member 24 January, 2023, 09:32Be the first to give this comment the thumbs up 0 likes

Nice story - going to be thin margin, but  good for Stripe...  Quality of service counts - capacity planning is vital!