Kickstarter picks Stripe as new payments processor

Kickstarter has chosen Stripe to process the $529 million the crowdfunding site takes in annual pledges, dumping Amazon Payments along the way.

In a blog post, the crowdfunding company said that Amazon had discontinued the version of the Payments platform used by Kickstarter, and has been looking for a new partner for some time. Kickstarter, one of Amazon Payments’ biggest customers, has followed other established web brands such as Twitter and Facebook in a partnership with Stripe. While Amazon only dealt with US payments, leaving Kickstarter to use other payment processors to handle outside traffic, Stripe will become the site’s global processor.

Stripe’s tools will be directly integrated into the Kickstarter site, meaning that setting up a crowdfunding campaign and making pledges will be infinitely easier. Previously, project creators were forced to create and Amazon payments account or wait several days to register their details. Those backing a project were redirected to Amazon’s portal and required to create an account if they had not already set one up.

Now project creators can just enter bank details into their Kickstarter profiles, and have payments deposited directly into their accounts once funding is completed. Project backers will be able to enter payments details on the project’s pledge page or use saved credit card information from their existing Kickstarter accounts.

For now US transaction fees will remain at 3-5 per cent, the company said, but may change in time for Kickstarter users in other countries.

Related reading

Leave a comment