Stripe is an Internet payment service, while Twilio is a platform affording cloud services to users. This fall the two companies have announced a tandem operation. The new partnering venture will be called pay. The option is strategically aimed at smaller businesses, especially those in the food and beverage sector. These small businesses that are leaning ever more on mobile sales require a way to make sure their mobile customers can use their phones to make payments easily and seamlessly. Pay is meant to make that happen. Moreover, the new system will ensure that security and privacy protocols are met,which is one less headache for small business owners. Businesses that fail to comply with the new privacy standards will lose out on sales and also be liable to penalties.
- This new service for payments is really getting to be more innovative over time.
- As time goes on, the world is going to have less and less cash due to businesses only accepting card.
- It will be beneficial for many people and business if the world starts to get rid of cash.
“Stripe, an online payment processing service, and Twilio, a cloud communications platform, have announced a partnership they say will make it easier for small businesses to take payments over the phone.”