Mobile and online payment provider Stripe has entered into a strategic partnership with Visa that will make it one of the first beta partners to connect to Visa’s network capabilities, giving its developer community access to the payment network’s tokenization service.
“Stripe will be one of the first beta partners to connect to Visa’s network capabilities via APIs and SDKs, offering their developer community access to payment and risk management services, Visa’s tokenization service and security technologies,” Visa says.
“Working together, the companies will enable a global payments solution for new ecommerce experiences like buy buttons and new innovations to come.
“Through this relationship, Stripe will accelerate its international expansion, particularly in emerging markets, accessing Visa’s global footprint through its acquiring and issuing partners.”
Meanwhile, Visa has invested an undisclosed sum into Stripe to “support this growth and joint long-term initiatives”. The investment values the company at $5bn, “up from $3.5bn just seven months earlier”, Fortune reports.
“Stripe aims to give developers the tools they need to create the most secure and novel buying experiences,” says Patrick Collison, CEO and co-founder of Stripe.
“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.”
“Given the explosive growth of new commerce experiences enabled by a global developer community, Visa is expanding its strategic relationships across the payments ecosystem,” adds Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa.
“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.”