Stripe, the Irish-originated fintech company, has formed a partnership with Hertz, the international car rental powerhouse. Stripe will globally implement its payment infrastructure for Hertz and its subsidiary brands, Dollar and Thrifty. The partnership includes innovative digital payment alternatives for customers, like the application of Apple Pay for transactions made on Hertz’s website or in their app within the US.
Hertz’s Chief Information Officer, Tim Langley-Hawthorne, emphasised that this latest digital payment facilities will guarantee a quicker and smoother process for their clients. He remarked that their principal objective is to provide exemplary service to their customers swiftly and these latest advancements in technology, through partnership with Stripe, are enabling them to achieve this.
Almost 3,000 global corporate-owned locations will adopt Stripe Terminal for in-person transactions, unifying Hertz’s payment systems. Eileen O’Mara, Stripe’s Chief Revenue Officer, commented on the collaboration expressing her delight at how Stripe will simplify the car rental process for Hertz’s customers.
Stripe, founded by Patrick and John Collison from Limerick, has entered into numerous agreements to handle payments for big corporations including Amazon and OpenAI. Following the decision by Stripe and some of its investors to purchase more than $1 billion in shares from current and past employees, the company’s estimated worth has risen to $65 billion. Even though this figure is significantly higher than the $50 billion evaluation last year, it is still lower than the $95 billion valuation in 2021, which was a result of the increased demand for digital services post-pandemic.