Stripe, Microsoft entice merchants with email/e-wallet collaboration
E-commerce businesses using Stripe to accept and make payments will now be able to do so through their Outlook inbox or through Microsoft Pay.
A partnership with Microsoft will allow Stripe to power Payments in Outlook for Microsoft Office users, while also supporting Microsoft Pay, a digital wallet used to store payment and shipping details in Microsoft accounts.
Stripe says Microsoft will use the Stripe Connect platform to enable hundreds of millions of Outlook users to immediately pay invoices and bills received via email in more than 135 countries.
“Stripe’s goal is to increase the gross domestic product of the internet, which we do by providing the tools and infrastructure that make it easier to transact online from anywhere in the world,” Richard Alfonsi, head of global revenue and growth at Stripe, said in a Monday press release. “We’re excited to work closely with Microsoft to power payments in Outlook, allowing anyone receiving an email invoice or bill in Outlook to immediately take action and pay that invoice with a few simple clicks."
By removing the friction and time needed to complete a payment, Stripe and Microsoft can help businesses around the world reduce missed or late payments, ultimately increasing their revenue, Alfonsi said.
Users with existing Microsoft Pay accounts can complete a payment in just a few clicks, or by entering new card details. Customers are able to make payments directly within Outlook, without any need to click through links to launch a new browser window or sign in to any additional accounts.
Stripe Connect processes the payment from the end customer and ensures the business that originally generated the invoice will get paid in a timely manner. Stripe Connect operates as a payment vehicle for multisided marketplaces and platforms used by companies such as Shopify, Salesforce and Facebook.
“Our partnership with Stripe opens up new opportunities for developers to monetize on Microsoft platforms,” Peggy Johnson, executive vice president of business development at Microsoft, said in the release. “Anyone using Stripe on our platforms can now accept payments with minimal effort, creating a more powerful experience for both our partners and our customers.”
In also supporting Microsoft Pay, Stripe says the hundreds of thousands of businesses that run on Stripe can now accept payments in their websites or apps from customers via Microsoft Pay, without any additional technology work.
The San Francisco-based Stripe continues to support other digital payment methods, including Apple Pay, Google Pay and Alipay.