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Stripe reports Salesforce deal

Source: Stripe

Today Stripe announced that it was named a Leader in the Forrester Wave™ report on Global Merchant Payments Providers, Q3 2020, achieving the highest scores by any ranked company in both strategy and current offering.

Concurrently, CRM giant Salesforce announced that Stripe will power Commerce Cloud Payments. With this partnership, Salesforce joins hundreds of enterprises already using Stripe to scale and adapt. Among these, Stripe now counts more than 40 category leaders—companies processing more than $1 billion annually—as customers.

The events of 2020 have pushed the economy online faster than ever before. Supporting enterprises through this shift, Stripe has, for example, enabled Zoom Video Communications to scale its service to new heights, powered soaring sales for Wayfair, and optimized global invoicing for Slack. And now, Stripe is partnering with Salesforce to help its enterprise customer base adapt even faster as spending shifts online at an accelerated rate.

Stripe is recognized as a Leader by Forrester in enterprise payments

Stripe’s market leadership in enterprise payments has been recognized by leading analyst firm Forrester in the Forrester Wave™ report on Global Merchant Payments Providers, Q3 2020. Participating in the report for the first time, Stripe was named a Leader and achieved the highest scores on Forrester’s two categories of strategy and current product offering. Forrester noted that Stripe is the “best fit for technology-forward payments teams.”

Forrester recognizes that “Stripe’s vision of ‘increasing the GDP of the internet’ by supporting businesses as they adapt—to new geographies, new business models, new disruptions—is well aligned to the realities that many merchants face.” Specifically, Stripe “delights tech-forward business leaders, [...] is good at using its data to build algorithms that improve authorization rates, [and] is uniquely strong in subscription management.“

“Stripe is the only infrastructure company serving both ends of the market, from brand new start-ups to Fortune 500 companies. This enterprise accolade is a testament to the hard work of thousands of Stripes who have been laser focused on delighting customers, expanding global coverage, and shipping hundreds of new features every year,” commented Mike Clayville, Chief Revenue Officer at Stripe. “Many of our enterprise customers are huge category leaders—each one is a global giant processing more than a billion dollars annually—and they’re going all in on Stripe to move quickly at immense scale.”

Stripe teams up with Salesforce to help retailers adapt to digital spending surge

E-commerce spending has surged 71% globally over last year, according to Salesforce. To help enterprises adapt to a rapidly digitizing economy, Salesforce today unveiled a partnership with Stripe as part of the launch of Digital 360, a platform bringing together marketing, commerce and digital experience products to drive digital transformation in the enterprise.

Part of this new platform, Salesforce Commerce Cloud is built to power seamless commerce experiences across all digital channels—mobile, social, web, and in-store. For the first time, Commerce Cloud will also include Commerce Cloud Payments, powered by Stripe, enabling brands to quickly launch commerce experiences with integrated payments capabilities. With Commerce Cloud Payments, enterprises are able to get to market faster and boost revenue conversion with elegant checkout experiences and integrated fraud protection.

"Speed, conversion and personalization are key to digital commerce success,” said Adam Blitzer, EVP & GM, Digital, Salesforce. “Our partnership with Stripe will enable our customers to deliver just that, boosting conversion rates with a fast and easy checkout experience powered by our out-of-the-box payment solution on the leading commerce platform, Salesforce Commerce Cloud.”

Stripe invests for high scale as enterprise customers grow at a rapid clip

Stripe has accelerated its march into the enterprise this year as large companies reorient to the digital economy faster than ever before. Enterprises such as Atlassian, Maersk and Mindbody have turned to Stripe recently to help power adaptation in the form of optimizing their core business, entering new markets, and creating new revenue streams.

As Stripe aggressively continues its inroads into the enterprise, it’s investing heavily to further enable high-scale operations and securely move hundreds of billions of dollars a year for the world’s largest and most complex companies. The recent appointments of Dhivya Suryadevara as Chief Financial Officer (from General Motors) and Mike Clayville as Chief Revenue Officer (from Amazon Web Services), upgrades to Stripe’s invoicing and subscription capabilities, and the launch of Stripe’s global direct acquiring platform are among the foundations Stripe has put in place to enable further scale over the coming years. 

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