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Irish Life taps Stripe to support payments in its Smart Invest app

Monday 26 September 2022 10:46 CET | News

Life insurance and pensions company Irish Life has chosen Stripe as its strategic payments provider for its Smart Invest app.

 

Stripe will facilitate investments through its payments platform and Stripe Billing while safely storing the payment details of Irish Life’s Smart Invest customers. Stripe Radar will detect and prevent fraud using machine-learning algorithms that train on data across billions of global transactions. Smart Invest will also use Stripe Connect to enable client fund segregation, which will simplify its core financial operations. 

Irish Life launched Smart Invest in 2021 to make it easy for people to invest and track the performance of their investments. The app makes investing more accessible by allowing users to get started with as little as EUR 100 in their accounts. Smart Invest also appeals to people who want to invest more responsibly by providing access to investment funds that support the planet.

Irish Life chooses Stripe as its strategic payments provider for its Smart Invest app.

Stripe’s presence in Ireland

Irish Life joins tens of thousands of Irish businesses that are using Stripe to help grow their revenue and operate more efficiently. Those companies range from tech unicorns like Flipdish and Wayflyer to heritage brands like Foxford and McNutt of Donegal.

The Irish company’s officials stated that the partnership with Stripe helps give their customers a payment experience with a wide variety of payment methods, including card payments and digital wallet integration. This will help them to further augment the customer experience for their Smart Invest app and to continue to grow the business.

Also serving the hospitality industry

In September 2022, Stripe partnered with Germany-based hospitality software provider Sides. The German company planned to add a secure payment platform to its software and thus enable a comprehensive shopping experience. The all-in-one catering software offers cashless payment processing in restaurants, online shops, and in the app.

Sides Pay covers all the usual payment methods, such as credit and debit cards, as well as digital wallets, in one system. The holistic software solution is intended to map the application workflow from ordering to payment and the entire purchasing process in the catering trade.

With the new payment solution, restaurant operators should be able to offer different payment methods in their restaurants or online, address more customers and increase their sales in the long term. Cashless payments are now firmly incorporated into the software because of Stripe's white-label integration. 

By providing an Application Programming Interface (API), Stripe allows developers to integrate payment processing into their websites and applications. Stripe is a 'White Label Payment Gateway', meaning that its payment services are allowed to be fully branded and in-house. This offers a personalised form of payment solution which enables businesses to present their brand, such as their logo, while accepting online payments online. 


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Keywords: mobile payments, investment, insurance, partnership, Stripe
Categories: Payments & Commerce
Companies: Irish Life, Stripe
Countries: Ireland
This article is part of category

Payments & Commerce

Irish Life

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Stripe

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