Stripe, a financial infrastructure platform for businesses, has been selected by BMW of North America to power US vehicle preorders and online purchases of BMW extended warranties, maintenance, digital services, and more. „The partnership arrives as automakers adopt new ecommerce tools for customers who increasingly expect digital convenience as part of their car-ownership experience.” – according to the press release.
“Our primary focus at BMW is to create and provide the best premium customer experience for our owners,” said Marcus Casey, chief marketing officer, BMW of North America. “Stripe helps us offer BMW owners a secure and seamless payments experience across all channels.”
With Stripe, BMW customers can securely pay online with convenient debit and credit card methods. BMW of North America will use Stripe Connect to facilitate online payments from its US customers to the correct BMW dealers.
BMW of North America dealers across the US will have the ability to use Connect to track revenue from purchases including vehicle preorders. Connect will provide dealers with a full summary of payments from online sales of extended warranties and vehicle maintenance.
BMW’s ConnectedDrive Store lets customers purchase services and apps for everyday use in BMW vehicles. Stripe will power ConnectedDrive payments and enable BMW users to securely store card information for future transactions. ConnectedDrive purchases are made on the web and in the My BMW App.
Stripe will help BMW of North America track and manage ConnectedDrive revenue that previously was distributed across multiple financial records. ConnectedDrive financial information and online sales data will be consolidated on Stripe, giving BMW finance teams faster, streamlined access to important revenue insights.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
