Stripe, a corporate financial infrastructure platform, has announced an expansion of its partnership with Uber to reduce costs and provide users with a broader selection of payment methods. The deal includes Uber Rides and Uber Eats operations.
“Creating payment experiences that combine innovation in payment methods, reduced friction, and cost savings is at the heart of what we do. Using Link to give customers the option to easily pay using their bank account puts us in a position to meet all of these requirements while being able to meet all of these requirements while doing business,” said Karl Heber, Vice President, Payments and Risk. And the identity at Uber: “Providing access to an increasingly popular payment method.” “Stripe shares our commitment to reliability, customer focus, and continuous innovation — which is why they’re a premier partner.”
Uber will use Link and Stripe financial links to allow customers to securely and instantly add bank accounts without leaving the Uber app.
Customers can easily reuse saved bank details for future purchases with Uber. In addition to Link, Uber uses Stripe to process payments with eftpos in Australia and JCB in Japan. Stripe is now a strategic payment partner for Uber in several of its key markets, including Canada, the United Kingdom, France, Malta, Mexico, Brazil, Australia, Japan and the United States.
More than 100 push-ups
Since its launch in 2010, Stripe has been a company determined to make online payments better. Today, Stripe features over 100 improvements that improve every aspect of the checkout experience, including pre-built payment interfaces, over 40 payment methods, and Link, Stripe’s one-click checkout. Link speeds up the checkout process by saving the customer’s payment details that can be used for subsequent purchases at any Link-enabled business.
Last week, Stripe announced the results of a controlled study that revealed that companies that used Stripe’s latest checkout improvement saw revenue increase by 10.5%. Stripe has also recently enhanced adaptive acceptance, network tokens and card replenishment, and launched an Enhanced Issuer Network, all with the goal of increasing authorization rates. Additionally, Stripe’s API reliability now consistently exceeds 99.999%, meaning Stripe users like Uber can count on its performance even during peak times.
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