August 24, 2016
Amazon Payments Kicked to the Curb
Jan. 8, 2015
On Tuesday, crowdfunding pioneer Kickstarter announced on its blog it has changed payment providers from Amazon Payments to Stripe. The company said it made the change to deliver a simpler and faster checkout experience for contributors. Companies that were trying to raise funds on Kickstarter previously had to set up an Amazon Payments business account, which could take a few days for approval. Stripe requires only that project creators take a few minutes to enter bank account details. Kickstarter said fees will remain the same with Stripe processing payments as they were when it was Amazon handling the transactions. Stripe also will handle all global payments for Kickstarter. Amazon Payments only processed the company’s U.S. transactions.
“Late last year Amazon decided to discontinue the payments product that we have used,” the company said in the blog post. “We took the opportunity to consider the best possible partner to process payments for creators and backers moving forward.”
Stripe has become something of a darling for Silicon Valley-based tech companies. The company raised $150 million in 2014 and made deals to handle online payments for Apple, Twitter and Facebook .