Twitter, InMobi Embrace New Stripe Mobile E-Commerce ToolEric Newcomer
Stripe Inc., the online-payments processor, unveiled a tool to simplify mobile e-commerce for stores and software applications developers.
Twitter Inc. said it’s adopting Stripe’s offering, called Relay, to make it easier to buy products from a link in a tweet. InMobi, a mobile-advertising company, and SAP SE’s e-commerce software unit Hybris also said they are integrating their services with the San Francisco-based startup’s product.
Stripe was valued at $5 billion in July, after a funding round that included an investment from Visa Inc. The company doesn’t work directly with consumers. Instead, it builds tools to make it easier for other companies to sell products online.
Patrick Collison, Stripe’s chief executive officer, said mobile devices are used 60 percent of the time to browse shopping sites, but only 15 percent of the time to make purchases.
“It’s like an obstacle course before people can give you money,” Collison said.
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