Stripe, the Dublin-headquartered payments giant, has unveiled a new partnership with Brown Thomas Arnotts (BTA), becoming the luxury retailer’s official online payments processor across its various digital platforms.
The collaboration, which Brown Thomas Arnotts said is part of an ongoing investment in “digital experiences” for luxury shoppers, will offer customers access to Apple Pay as well as buy-now, pay-later shopping through the Klarna platform.
It means Stripe, which was valued at $159 billion (€139 billion) earlier this year, will process all online payments made through the retailer’s website and mobile apps.
Stripe said its authorisation boost feature will also deliver a “measurable lift” in card authorisation rates to help recover revenue lost to failed transactions, “which in certain segments were as high as 30 per cent”.
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It will also “simplify reconciliation across storefronts and order management systems”, the company said.
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“Stripe’s technology and pace of innovation have enabled Brown Thomas Arnotts to continually innovate and deliver the effortless, elevated experience our customers expect, wherever and however they choose to shop,” said Sara Esler, head of digital product at Brown Thomas Arnotts.
“Brown Thomas Arnotts have built their reputations on exceptional retail experiences, and that standard has to carry through online,” said Conor McNamara, chief revenue officer at Stripe for the Europe, Middle East and Africa region.
He said the platform’s features have “helped thousands of businesses across Europe recover revenue from card declines, and we expect the same for BTA as they migrate their entire online payments volume to Stripe”.
