Visa Takes Stake in Stripe
July 30, 2015
Visa, late Tuesday confirmed it has made a significant investment in online and mobile payment provider Stripe. While the San Francisco-based card network did not indicate the size of its investment, multiple published reports said it was part of a capital infusion that values Stripe at $5 billion. Visa is the second major card network to form a strategic alliance with the Silicon Valley payments company after American Express announced in July its new online checkout service would be available to all Stripe merchants . In addition to entrenched payment companies, Stripe has signed partnerships with some of the largest Internet-based tech companies as well, including Apple, Twitter and Facebook .
Visa said Stripe will leverage the partnership to accelerate international expansion and gain access to risk management services like tokenization.
“Stripe aims to give developers the tools they need to create the most secure and novel buying experiences,” said 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.”