Ford builds for the road ahead signing five year Stripe e-commerce deal

Ford Motor Company has signed a five year deal with payments platform Stripe in an effort to transform the automaker’s e-commerce and payment infrastructure.

With Stripe as a premier payment service provider, Ford will deploy products including Stripe Connect, in order to scale new services and facilitate payments to Ford and Lincoln dealers.

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According to Marion Harris, Ford Motor Credit Company CEO, “Stripe’s platform will help us deliver simpler, outstanding payment experiences in any channel customers choose and scale improvements faster.”

The Stripe and Ford relationship is set to improve efficiency for dealers that are already offering digital payments services as well as creating a platform for third-party buyer and seller payments and purchases.

“As part of the Ford+ plan for growth and value creation, we are making strategic decisions about where to bring in providers with robust expertise and where to build the differentiated, always-on experiences our customers will value,” said Harris.

“Stripe has developed strong expertise in user experiences that will help provide easy, intuitive and secure payment processes for our customers.”

The partnership will enable growth across the North American and European markets for online payments infrastructure.

Stripe’s software is set to drive efficiencies for e-commerce payments across processes including vehicle ordering, reservations, and digital and charging services.

Ford is expected to deploy the technology initially in the US in the second half of this year.

According to Mike Clayville, chief revenue officer at Stripe, “During the pandemic, people got comfortable paying online for groceries, health care, even home haircut advice from barbers. Now, they expect to be able to buy anything and everything online. Ford is making e-commerce possible, too, and scaling that strategy with Stripe’s help.”

“We’re thrilled to be the payments engine under the hood powering the next stage of Ford’s digital transformation.”