BMW Of North America Uses Stripe For Online Payments
BMW of North America has selected Stripe as its direct payments infrastructure.
Stripe said in a press release on Friday (Jan. 27) that the financial infrastructure platform will help the automaker with U.S. vehicle preorders and online purchases of extended warranties, maintenance, and digital services.
“Our primary focus at BMW is to create and provide the best premium customer experience for our owners,” BMW of North American Chief Marketing Officer Marcus Casey said in the release.
“Stripe helps us offer BMW owners a secure and seamless payments experience across all channels.”
More people are making purchases on their phones, another change in how people shop. According to the November 2022 U.S. edition of “Digital Economy Payments,” the share of non-grocery items bought online with a desktop computer dropped from 19% in the fourth quarter of 2021 to 13% in the third quarter of 2022. This is because more people are using these devices.
The news that BMW of North America has chosen Stripe comes just days after Amazon said it would “significantly expand” its use of Stripe. With a new agreement, Stripe will be Amazon’s strategic payments partner in the U.S., Europe, and Canada.
Amazon and Stripe have been working together since 2017 when Amazon used Stripe’s payments platform to speed up its market expansion in Europe and Asia and to support purchases on busy shopping days like Black Friday and its own Prime Day.
BMW of North America will use Stripe Connect to let customers pay online with debit or credit cards, get payments to the right dealers, and get faster access to revenue insights.
With Connect, dealers can track how much money they make from sales and see a complete list of payments from online sales.
“Stripe is helping BMW of North America enhance the premium automotive shopping experience,” Stripe Chief Revenue Officer Mike Clayville said in the release.
“We’re thrilled to support their mission of providing the best possible customer experience.”
