Visa has made a strategic investment in Stripe, a service that has been adopted by many popular ecommerce hosting services as a payment method for merchants. Stripe, founded by brothers from rural Ireland, has raised much funding since its founding in 2009 (with a public launch in 2011), and is said to be valued at over $5 billion.
Visa will help payments service Stripe expand internationally as part of a strategic partnership.
And, according to the press announcement, “Working together, the companies will enable a global payments solution for new ecommerce experiences like “buy buttons” and new innovations to come.”
Visa’s Jim McCarthy said, the company was very excited to work with Stripe and leverage its combined assets to broaden their offerings to new types of merchants and developers globally.
Recently, Visa’s CEO noted that PayPal remains a big business for the company, but said PayPal uses Visa transactions as a vein to “mine from” and possibly disintermediate the relationship between Visa and clients, according to Pymnts.com.
Stripe cofounder and CEO Patrick Collison said, “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. We’re very excited about the potential.”
