Stripe partners with Salesforce to power the firm’s cloud payment system

By Aisling Finn on Thursday 24 September 2020

Digital Banking

Under the new partnership, Stripe will enable Salesforce customers to transform their payment processes. 

Stripe partners with Salesforce to power the firm’s cloud payment system
Image source: Stripe co-founders Patrick and John Collison

Global payments giant Stripe has teamed up with customer relationship manager (CRM) Salesforce to power the latter’s Commerce Cloud Payments. 

 According to Salesforce, e-commerce spending has jumped 71 per cent on last year and, as a result, the firm has partnered with Stripe to streamline its payments processes. 

The new partnership will mean that Salesforce’s customers will now be able to set up their payment processing platforms using Stripe’s technology.  

Adam Blitzer, executive vice president and general manager of digital at Salesforce, said: "Speed, conversion and personalisation are key to digital commerce success.''  

"Our partnership with Stripe will enable our customers to deliver just that, boosting conversion rates with a fast and easy checkout experience powered by our out-of-the-box payment solution on the leading commerce platform, Salesforce Commerce Cloud." 

Stripe, which counts over 40 companies that process more than $1bn every year, has also been named an industry leader in enterprise payments by financial advisory firm Forrester. 

Mike Clayville, chief revenue officer at Stripe, said: "Stripe is the only infrastructure company serving both ends of the market, from brand new start-ups to Fortune 500 companies." 

“Many of our enterprise customers are huge category leaders—each one is a global giant processing more than a billion dollars annually—and they’re going all-in on Stripe to move quickly at immense scale.” 

The fintech, which is one of the highest valued in the world with a post-money valuation of $36bn, has also made some strategic executive hires including Dhivya Suryadevara as the new CFO who joins from General Motors and Mike Clayville as chief revenue officer, joining from Amazon Web Services.  

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