Ford wants to digitize vehicle purchases with Stripe

The Ford Motor Company and digital payment specialist Stripe have signed a five-year agreement to further accelerate the automaker's e-commerce sales and provide Ford customers with a better customer experience. Together, the partners aim to expand the online payment infrastructure for both customers and dealers in Europe and North America. The collaboration is intended to offer customers, dealers, and the company an improved and reliable e-commerce experience. With products like Stripe Connect, the automaker will be able to build new services that require a robust, reliable e-commerce system. With Connect, companies can set up a platform that facilitates purchases and payments between buyers and sellers from third-party vendors, outlined the manufacturer. For dealers, the Stripe service is also expected to make the processing of online payments for vehicle orders, reservations, and digital paid services more efficient.

In developing e-commerce offerings for the entire product and service range, Stripe's platform will be an important component of the technological infrastructure. For dealers who already offer digital payment services, Stripe's service is expected to make the processing of online payments like vehicle orders, reservations, and digital paid services more efficient, it was further announced.

"Stripe and Ford are working together to redesign our e-commerce payment infrastructure. Stripe's platform will help us provide simpler, outstanding payment experiences in every channel chosen by the customer and implement improvements more quickly," emphasized Marion Harris, CEO of Ford Motor Credit Company.

They are relying on the expertise in user experience to offer simple, intuitive, and secure payment processes. Mike Clayville, Chief Revenue Officer at Stripe, explained that during the pandemic, people became accustomed to paying online for groceries, healthcare, and even haircuts. Automakers like Ford are now increasingly turning to online.