Senior VP, Corporate Communications
NETSUITE AND STRIPE PARTNER TO POWER NEXT-GENERATION ONLINE PAYMENT SYSTEM
Stripe to Add Simple, Elegant Payment Processing Option to NetSuite SuiteCommerce Platform
NetSuite SuiteWorld 2012, SAN FRANCISCO—May 15, 2012—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that it has established a technology partnership with Stripe, provider of a next-generation online payment system geared to enable commerce businesses to quickly and easily accept credit card payments for products and services. Stripe is at the forefront of technology innovators to push the boundaries of the next generation of commerce and to lower the bar for merchants of any size to execute transactions over the Web. The Stripe payment processing solution offers a new option to incorporate hassle-free payment functionality into SuiteCommerce, the new NetSuite commerce-aware cloud platform that enables businesses to manage B2B and B2C transactions regardless of current or future touchpoint (website, smartphone, tablet, social media).
The Stripe/NetSuite partnership is designed to offer merchants a streamlined commerce solution that comprises online payments, a Web storefront, full integration with NetSuite's financials and CRM, and a central cloud solution to manage B2C and B2B transactions regardless of the customer touchpoint, from Web to smartphones, tablets and social media. Stripe, (www.stripe.com), a San Francisco-based payments company, positions its solution as a simple, elegant alternative to more complex payment gateways or dealing with banks, credit card companies and other parties. Merchants can have Stripe up and running quickly, with Stripe handling card data, subscriptions and direct payouts to bank accounts for a single, straightforward fee of 2.9 percent plus 30 cents per successful charge. Thousands of sites on the Web, including Fast Company, McSweeney's, Sugar Inc and MongoHQ, use Stripe to accept payments online.
"NetSuite and Stripe share a common vision of streamlining commerce operations and empowering online businesses to implement and scale at breathtaking speed," said Andy Lloyd, NetSuite GM of Commerce Products. "By reducing time to value and minimizing manual tasks in the cloud, merchants can focus on delivering a world-class commerce experience that delights customers and drives revenue."
"NetSuite's SuiteCommerce platform is an innovative cloud-based commerce platform and will continue to grow in adoption with the many new enhancements and integrations that NetSuite has recently unveiled," said John Collison, President at Stripe. "We're excited to partner with NetSuite and offer critical payment functionality that can help businesses realize the promise of Commerce as a Service."
Based in San Francisco, Stripe provides a simple, developer-friendly way to accept payments online. Its solution handles card data, subscriptions and direct payouts to bank accounts for a single, straightforward fee of 2.9 percent plus 30 cents per successful charge. Thousands of sites on the web, including Fast Company, McSweeney's, Sugar Inc and MongoHQ, use Stripe to accept payments online.
For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between NetSuite and any other company.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future availability of the Stripe payment processing solution in the NetSuite's SuiteCommerce platform. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, that either party decides not to move forward with the project or difficulties that could be encountered in completing the application integration. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.