Tulip and Stripe Announce Strategic Partnership for Omnichannel Retail Payments

Tulip, a provider of cloud-based retail solutions, and Stripe, a financial infrastructure platform for businesses, have announced a strategic partnership.

This new partnership will be a key driver of a new era of enhanced and frictionless payment experiences for retailers and their customers, the companies said in a Thursday (July 13) press release.

“The integration of Stripe into our next-gen POS [point of sale] system marks a significant milestone in revolutionizing the retail payments landscape,” Roberto Grandillo, executive vice president, product management at Tulip, said in the release. “With Stripe seamlessly integrated, we are empowering retailers to provide an even more frictionless and fully integrated omnichannel experience for their customers.”

With the new collaboration, Tulip gains access to Stripe’s enterprise-grade payment infrastructure and modern retailers can now accept in-person payments with flexible developer tools, pre-certified card readers, and cloud-based hardware management, according to the press release.

These features will not only improve the payment experience by ensuring a frictionless and secure transaction process for Tulip clients and their retail customers, but they will also provide a frictionless onboarding and integration experience for retailers too, the release said.

“We are thrilled to partner with Tulip, a visionary leader in the retail industry, to transform the retail payments landscape,” John Affaki, terminal business lead at Stripe, said in the release. “Together, we are empowering retailers to thrive in an increasingly digital and interconnected world.”

PYMNTS research has found that consumers’ relationships with their payment methods are shifting, and they may not feel as tied to credit and debit cards as they once did, opening the floodgates for mobile wallets.

Consumers increasingly use mobile devices instead of desktops, laptops or voice-activated devices to purchase groceries and other retail products, according to “Quarterly Payments Report: Mobile Wallets Gain Ground.”

In another recently announced partnership designed to streamline payments, Treasury Prime and Checkout.com teamed up in June to offer enhanced payment experiences. This new collaboration will begin with a product that allows users to fund their accounts using their debit card credentials, with the aim of reducing friction during account opening and improve the user experience.