Technology

Stripe to provide payments for Hertz car rental brands

Agreement covers the Hertz, Dollar and Thrifty brands, and includes in-person payments

Payments company Stripe has signed a new services deal with Hertz car rental. Photograph: Bloomberg

Ciara O'Brien
Thu Mar 7 2024 - 15:17

Payments company Stripe has signed a deal with Hertz that will see the Irish-founded fintech provide payments infrastructure globally for the car rental giant.

The deal covers the Hertz, Dollar and Thrifty brands, and will bring new digital payment options for customers, including Apple Pay for payments on the Hertz site and through the app in the US.

Tim Langley-Hawthorne, chief information officer at Hertz, said the new digital payments option would enable a faster and more seamless experience for customers. “Getting our customers on the road quickly with exceptional service is our top priority and this partnership with Stripe is an example of how we’re leveraging advanced technology to make that possible,” he said.

Meanwhile, Stripe Terminal will be used for in-person transactions at approximately 3,000 corporate-owned locations around the world as the company unifies its payments systems.

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“Customers expect fast, simple, and reliable car rentals,” said Eileen O’Mara, chief revenue officer at Stripe. “We’re thrilled that Stripe can help Hertz get its customers on the road more easily.”

Stripe, which was founded by Patrick and John Collison from Limerick, has signed a number of deals to provide payments for large companies, including OpenAI and Amazon.

The company was recently valued at $65 billion, after the company and some of its investors had agreed to buy more than $1 billion of current and former Stripe employees’ shares.

The valuation was higher than the $50 billion value put on the company a year ago, but falls short of the $95 billion valuation in 2021 as the post pandemic boost to the digital economy spurred demand for its services.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist

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