Ford Motor Company and Stripe sign a five-year agreement to transform the e-commerce and automotive payments experience, with Stripe as the leading payment services provider for Ford and its dealerships in North America and Europe.
Relationship to enable a seamless digital and e-commerce experience for customers and provide dealers with an enhanced payment acceptance experience.
This embodies Ford+’s strategic approach of selecting world-class suppliers to deliver key levels of the technology stack.
DEARBORN, Mich., and SAN FRANCISCO, Jan. 17, 2022 – Ford Motor Company and Stripe have signed a five-year agreement to accelerate the automaker’s e-commerce capabilities and provide a seamless experience for Ford and Lincoln customers.
“We worked with Ford to redesign our e-commerce payment infrastructure. Stripe’s platform will help us deliver simpler, great payment experiences across all channels customers choose and scale improvements faster,” said Marion Harris, CEO of Ford Motor Credit Company.
Together, Stripe and Ford will develop the online payment infrastructure to serve customers and dealers in North American and European markets. Their work will deliver enhanced and reliable e-commerce experiences for users, dealers and the business. Stripe will also enable Ford Pro FinSimple solutions for commercial customers.
With products like Stripe Connect, Ford will be able to develop new services that require a robust and reliable e-commerce backbone. Connect enables companies to create a platform to facilitate purchases and payments between buyers and third-party sellers. Ford will use Connect to facilitate payments from a customer to the correct local Ford or Lincoln dealership.
“As part of the Ford+ plan for growth and value creation, we are making strategic decisions about where to bring in suppliers with deep expertise and where to create the differentiated, always-on experiences our customers will enjoy,” Harris said. “Stripe has developed strong expertise in user experiences that will help provide simple, intuitive and secure checkout processes for our customers.”
As Ford develops e-commerce offerings across the spectrum of products and services, Stripe’s platform will be a key part of the technology stack. For Ford and Lincoln dealerships offering digital payment services today, Stripe’s service is expected to bring new efficiencies in processing e-commerce payments, such as vehicle ordering, reservations and digital services and recharge.
“We’re excited to be the under-the-hood payment engine powering the next stage of Ford’s digital transformation,” said Mike Clayville, chief revenue officer at Stripe. “During the pandemic, people have felt comfortable paying online for groceries, healthcare, even at-home haircut advice from barbers. Now they expect to be able to buy everything and anything online. Ford is also making e-commerce possible and scaling it strategy with the help of Stripe.”
Deployment of Stripe technology is expected to begin in the second half of 2022, starting in North America.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a Dearborn, Michigan-based global company committed to helping build a better world, where everyone is free to roam and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and ongoing customer relationships to enrich customer experiences and deepen customer loyalty. Ford designs, manufactures, markets and services a full range of connected and increasingly electrified passenger and commercial vehicles: Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles. The company is targeting leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs approximately 184,000 people worldwide. For more information about the company, its products and Ford Motor Credit Company, visit corporate.ford.com.
Stripe is a technology company that builds economic infrastructure for the Internet. Businesses of all sizes – from startups to public companies – use Stripe software to accept payments and manage their online business.