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Amazon-Stripe partnership

(stripe.com)
258 points polyrand | 2 comments | 23 Jan 23 15:38 UTC | HN request time: 0.01s | source
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vishnugupta ◴[23 Jan 23 17:17 UTC] No.34491814[source]▶
I worked on Amazon Payments systems for quite some time back in the day. We took pride in being the best payment processors. Had direct connections with card networks, banks and what not. We even launched a PayPal competitor[1]. They launched a Square like device for physical retailers[2]. They invested some serious money in building and maintaining all of that.

However going by this news seems like Amazon has more or less given up on their payments ambitions. Could be also due to recent layoffs. This is a big news. Maybe Amazon wants to focus on being good at few things instead of running hundreds of experiments.

Edit: References.

[1] https://pay.amazon.com

[2] https://www.forbes.com/sites/ryanmac/2015/10/30/amazon-kills...

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1. remus ◴[23 Jan 23 17:49 UTC] No.34492285[source]▶
> However going by this news seems like Amazon has more or less given up on their payments ambitions. Could be also due to recent layoffs. This is a big news. Maybe Amazon wants to focus on being good at few things instead of running hundreds of experiments.

This does seem very un-amazon from my outside perspective. In the past I've always had the impression that amazon are very happy to shovel money in to an area if they think it'll improve their margin and/or protect them from reliance on third parties. This seems exactly the opposite of that! Stripe must be spending a shit load of cash with AWS and offering amazon a pretty attractive rate for processing.

I wonder if GCP has been fishing for stripe's business?

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2. acdha ◴[23 Jan 23 19:54 UTC] No.34494040[source]▶
> I wonder if GCP has been fishing for stripe's business?

That would make a lot of sense: they mention increasing their use of AWS and this is something that neither Google nor Microsoft could really match as the carrot for an exclusive commitment. Stripe is already pretty big but being able to say Amazon trusts them with payments is a pretty strong sales pitch.