Stripe becomes Accor's primary payments partner globally

Through this partnership, Accor is aiming to enhance its ecommerce platform by offering a range of services beyond accommodation, including spa services, restaurants, and unique experiences. In essence, the company wanted to streamline its payment processes and reallocate funds based on guest selections. 

Previously, Accor used multiple payment gateways from various providers. By partnering with Stripe, Accor is implementing a unified payment system across all its hospitality properties for online bookings. The transition has already led to a notable increase in net conversion rates for prepaid bookings on Accor's ecommerce channels, resulting in enhanced revenue at the hotel level according to the official press release. 

Representatives from Accor’s emphasised the transformative nature of the partnership, citing improved payment experiences and the scalability of new payment methods. In turn, representatives from Stripe highlighted the importance of prioritising guest satisfaction in payment experiences and expressed enthusiasm for contributing to Accor's strategy.

Other developments from Stripe

In May 2024, Stripe announced the launch of additional tools and financing options for companies operating in the UK.  In an effort to support access to capital and accelerate the expansion of businesses in the UK, Stripe introduced new payment tools and financing alternatives, including Stripe Capital, a feature that allowed lower-cost Open Banking-enabled payments and convenient payouts.  

Considering that access to capital is not a simple process for businesses, Stripe launched the tools and options to simplify how businesses receive capital while supporting money movement around the economy. 

In the same month, the Avalanche C-Chain network integrated with payment firm Stripe, allowing verified Stripe users to buy Avalanche’s AVAX and send it to their wallets. According to the official press release, eight Avalanche Web3 apps were also integrated with the platform. Avalanche app developers gained the ability to embed a customisable widget into their interfaces, allowing users to convert fiat to crypto via Stripe’s platform.