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Amazon-Stripe partnership

(stripe.com)
258 points polyrand | 1 comments | 23 Jan 23 15:38 UTC | HN request time: 0.245s | source
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Brystephor ◴[23 Jan 23 17:06 UTC] No.34491641[source]▶
I had a short period where I worked in Amazon payments. Max Bardon was the L10 or whatever above me.

Amazon likes to diversify their payment processors. They don't have one payment processor for one region because it's an availability issue for them. Cost of payments is big. So this is likely some agreement to help Amazon reduce their cost of payments, by essentially redirecting costs to the AWS side of things. India likely isn't being processed because India has regulations that most other countries do not. Adyen, Braintree, and maybe not even Stripe can be payment processors there (if they are, they're likely just a proxy for another processor).

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alsodumb ◴[23 Jan 23 17:13 UTC] No.34491754[source]▶
It's also party because India has a robust ecosystem of local companies that handle payments, including real-time payment methods such as UPI that are specific to the country and these are already well integrated into Amazon.in

Honestly the ubiquity of UPI and the rate of it's adaptation in India always surprises me. I hear stories of how small, often illiterate vendors selling tea for 10 cents on the streets would insist on getting their payment through UPI and not cash because it's more seamless.

UPI handles about 200 million transactions a day in India. I think Visa does like 150 million on their global network?

https://en.m.wikipedia.org/wiki/Unified_Payments_Interface

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1. chimeracoder ◴[23 Jan 23 17:50 UTC] No.34492307[source]▶
> It's also party because India has a robust ecosystem of local companies that handle payments, including real-time payment methods such as UPI that are specific to the country and these are already well integrated into Amazon.in

Just to add, UPI is actually no longer limited to India. Several other countries either are currently using it or have contractually agreed to and are in the process of integrating it and rolling it out.