Amazon and Stripe have announced that they have entered into an agreement on a global scale, under which Amazon will expand its use of Stripe’s primary payments platform.
According to a statement by Stripe, Amazon Web Services (AWS) will provide critical computing infrastructure to assist Stripe in serving millions of businesses worldwide.
This partnership marks a new phase in the long-standing relationship between the two companies, which has been strong for over a decade.
In 2017, Amazon began utilizing Stripe to accelerate market growth in Asia and Europe, as well as to manage a large number of Prime Day, Black Friday, and Cyber Monday purchases worldwide.
Now, under the newly signed agreement, Stripe will become a key payments partner for Amazon in the United States, Canada, and Europe, handling a substantial portion of Amazon’s total payments volume.
Stripe will also be implemented across various divisions of Amazon, including Prime, Audible, Kindle, Amazon Pay, Buy With Prime, and others.
For a long time, Stripe has depended on AWS to furnish the fundamental computing infrastructure that Stripe is built on.
This collaboration has enabled Stripe to improve developer productivity and accelerate product development as Stripe has grown to cater to millions of online businesses worldwide.
As per the current agreement, Stripe will continue to expand its usage of AWS and take advantage of its growing range of services such as Graviton for improved efficiency and performance in data processing, and Nitro enclaves for enhanced data security, with the aim of further expanding global commerce.
In 2020, Stripe acquired payments platform Paystack.
As of December 2022, Paystack had received licenses from the Central Bank of Kenya to run payments services in Kenya.
Quotes
“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.”
“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.”
