Stripe, a San Francisco, CA-based mobile and online payment provider, received a strategic investment from Visa Inc. (NYSE:V).
The two companies announced a strategic partnership to support new technologies and online payment experiences for merchants, developers and consumers worldwide. Through this relationship, Stripe will accelerate its international expansion, particularly in emerging markets, accessing Visa’s global presence through its acquiring and issuing partners.
Stripe will also be one of the first beta partners to connect to Visa’s network capabilities via APIs and SDKs, offering their developer community access to payment and risk management services, Visa’s tokenization service and security technologies. With this joint effort, Visa and Stripe will offer an expanded set of capabilities to the developer community and the payment ecosystem worldwide.
Led by Patrick Collison, CEO and co-founder, Stripe provides APIs to accept payments online and in mobile apps. The company, which is backed by Sequoia Capital, Andreessen Horowitz, and PayPal co-founders Peter Thiel, Max Levchin, and Elon Musk, now processes billions of dollars a year for thousands of businesses, from newly-launched start-ups to Fortune 500 companies. Web and mobile businesses using Stripe include Twitter, Kickstarter, Shopify, Salesforce, Lyft, and others.