A strategic partnership is announced between Visa Inc. and Stripe, a mobile and online payment provider. This partnership is announced for merchants, developers and consumers to support new technologies and online payment experience worldwide.
VISA and Stripe Partnership will Expand Online Commerce Globally
Stripe through this partnership will accelerate its international expansion, mainly in emerging markets. All of this will be done by accessing Visa’s global footprint through its acquiring and issuing partners. Visa has also made a strategic investment in Stripe to support this growth and joint long-term initiatives.
With this partnership the companies will provide a global payments solution especially for new e-commerce experiences like “buy buttons”. By connecting with Visa, Stripe will also become its one of the first beta partners. As it will connect to the Visa’s network capabilities via APIs and SDKs, it will offer their developer community access to payment and risk management services, and also Visa’s tokenization service and security technologies.
With this joint effort, Visa and Stripe will offer an expanded set of capabilities to the developer community and the payment ecosystem worldwide.
Mr. Jim McCarthy, executive vice president, innovation and strategic partnerships at Visa said:
“Given the explosive growth of new commerce experiences enabled by a global developer community, Visa is expanding its strategic relationships across the payments ecosystem. We are very excited to work with Stripe and leverage our combined assets to broaden our offering to new types of merchants and developers globally.”
Mr. Patrick Collison, CEO and co-founder of Stripe, said:
“Stripe aims to give developers the tools they need to create the most secure and novel buying experiences. Our partnership with Visa will accelerate our ability to expand to markets around the world, and give developers even more control over the end-to-end experience. We’re very excited about the potential.”