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WPP Partners With Stripe to Expand Commerce and Payments Solutions for Brands
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
WPP has announced its partnership with Stripe, becoming a Consulting Partner within the Stripe Partner Ecosystem (SPE). This collaboration focuses on developing solutions for commerce and payments to meet evolving client needs amid rising consumer expectations for digital experiences. WPP, with its vast network of over 13,500 commerce specialists, aims to enhance its capabilities in digital transformation and e-commerce. The partnership will also offer WPP early access to Stripe's latest products and expert support. Currently, WPP manages over $40 billion in direct and $20 billion in marketplace GMV for clients.
Positive
Partnership with Stripe enhances WPP's digital commerce capabilities.
Access to cutting-edge Stripe products and expert consulting services.
WPP's global network includes over 13,500 commerce specialists.
Negative
None.
WPP becomes a Consulting Partner within the Stripe Partner Ecosystem (SPE).
The new partnership addresses changing client needs and increasing customer expectations around experience-led commerce.
NEW YORK--(BUSINESS WIRE)--
WPP (NYSE: WPP) today announced it has partnered with Stripe to develop new commerce and payments solutions on behalf of joint clients. With this announcement WPP is now a Consulting Partner within the Stripe Partner Ecosystem (SPE), a program which provides a comprehensive package of resources and access to industry-leading consulting firms.
WPP, together with Stripe, will engage in strategy and consulting to help clients with a range of initiatives including digital transformation, new product launches, e-commerce design and development, mobile applications and payments infrastructure. WPP will receive early access to new product releases and go-to-market strategy in addition to receiving support from Stripe’s team of commerce and payment experts.
A recent report on the future of commerce suggests that 57% of global consumer spend is already online, and 60% of shoppers say they will increase their usage of digital shopping channels in the future.
By partnering with Stripe, WPP will enhance its digital commerce capabilities across its business which includes over 13,500 commerce specialists globally. The news follows WPP’s recent acquisitions of commerce agencies Diff and Fenom, and exemplifies the company’s continued investment in its commerce offer for clients. Ranked as a Leader in Forrester's latest global Commerce Services Wave, WPP already manages more than $40bn of direct and $20bn of marketplace GMV for clients.
Stripe is a financial infrastructure platform for businesses. Millions of companies such as Amazon, Ford, Maersk, Shopify, and Le Monde use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Stripe’s partner ecosystem provides the services and technology to enable enterprises across all industries to transform their ecommerce experience.
Stephan Pretorius, WPP’s Chief Technology Officer, said: “As companies increasingly move to digital channels to improve the customer experience, it becomes important that they implement a robust system with quality data to integrate their brand and commerce strategies. Through the deployment of best-in-class technology platforms, like Stripe, we’re able to support bold client ambitions, promote powerful data-driven commerce performance and remove friction in delivering first-rate customer experiences."
Dorothy Copeland, VP of Global Partnerships and Alliances at Stripe, said: “The increase in online spending is accelerating, and companies need to innovate quickly to stay ahead of consumer demand. By combining Stripe with WPP’s extensive commerce experience, businesses can modernize, get more out of their digital channels, and grow entirely new revenue streams.”
About WPP
WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.
About Stripe
Stripe is a financial infrastructure platform for businesses. Millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Headquartered in San Francisco and Dublin, the company aims to increase the GDP of the internet.
