Online retail giant Amazon has enjoyed a partnership with digital payments company Stripe since 2017, and both companies have reaped considerable rewards over the last few years as a result.
Now, according to a statement by the companies, their partnership is about to grow that much closer as part of a new “global agreement.” Among other things, Stripe has been named a strategic payments partner for Amazon’s business in Europe and North America, which means it will be responsible for processing its payments for vastly popular services including Prime and Audible.
For its part, Stripe’s Chief Technology Officer, David Singleton, described the company’s alliance with Amazon to be fundamental for continuing to do business. “We couldn’t run without AWS — and we wouldn’t want to. AWS is our customers’ first choice,” Singleton said in an interview. “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.”