Stripe, a financial infrastructure platform for businesses, announced an expansion of its Amazon (NASDAQ:AMZN) partnership by powering payments for retailers using Just Walk Out technology in Australia and Canada.
Amazon’s Just Walk Out technology is “designed to be an effortless shopping experience. The guest enters the store by using their credit card or mobile wallet at the entry gate.”
The technology detects what shoppers “take from or return to shelves and creates a virtual shopping session.”
When the guest completes the shopping experience, they can simply “leave the store without waiting in line. Their chosen payment method gets charged for the items taken.”
Merchants in Australia and Canada use Stripe Terminal’s WisePad3S reader “attached to physical entry gates, and Stripe automatically processes the payment after the guest leaves.”
Stripe Connect will programmatically “route payments from shoppers directly to businesses using Just Walk Out technology.”
Amazon will continue to benefit from API reliability on Stripe consistently exceeding 99.999% uptime and authorization rates “that remain high during peak shopping periods.”
Eileen O’Mara, chief revenue officer at Stripe, said:
“The only thing better than a speedy checkout is no checkout at all. I’m thrilled that Stripe is powering Amazon’s Just Walk Out technology payments. With Stripe Terminal and Connect, merchants using Just Walk Out technology will benefit from the same reliability that ensures millions of successful transactions on Amazon.”
In addition to Just Walk Out technology, Stripe serves as “a strategic payments partner for multiple lines of Amazon business such as Prime, Audible, Kindle, Amazon Pay, and more.”
As covered recently, payments platform Stripe is now incorporating Apple Pay Later, a buy now pay later (BNPL) service, by default for its merchants.
Apple (NASDAQ:AAPL) revealed its BNPL product in 2022. The announcement immediately caused shares in other BNPL providers to stumble due to the company’s size. Apple Pay Later enables a user to split the cost of a purchase over six weeks minus interest or fees.
Apple Pay Later is available via Stripe for purchases from $75 to $1000. Currently, this option is only available in the US for Stripe users.