Stripe, a Longtime Partner of Lyft, Signs a Big Deal With Uber
Lyft will remain a customer of Stripe’s, Stripe president Will Gaybrick confirmed to TechCrunch. Financial terms of the deal are not being disclosed, but as with the rest of Stripe’s payments business, a big component will come from commissions that Stripe will make from each transaction that it powers on Uber’s platform. The Uber partnership, expected to be announced formally later today at Stripe’s user conference, comes on the heels of recent enterprise deals Stripe has inked with Amazon, Microsoft and BMW. But this partnership — for now at least — is not a global adoption of all that Stripe has to offer. Uber will be using Stripe to break into a specific, new payments frontier. Specifically, it will integrate Stripe Financial Connections and Link to let users import banking details to pay for services like Uber Rides and Eats directly from bank accounts, giving users a payments alternative to credit or debit cards.
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