Irish-founded Stripe to provide payments for the Hertz Corporation

New partnership will cover the corporation's Hertz, Dollar and Thrifty brands

Just last week, the valuation of Stripe rebounded to $65bn (€60bn) after it entered into a share repurchasing agreement. (AP Photo/Ted Shaffrey, File)

Irish-founded financial platform, Stripe has announced a deal with the Hertz Corporation to provide payment options globally for the car rental giant.

The new partnership will cover the company's Hertz, Dollar and Thrifty brands, and will offer new digital payments to customers, including Apple Pay for the Hertz site and through its US app. 

The Stripe payment infrastructure will power in-person transactions at around 3,000 locations across the three brands as its parent company unifies its payment systems.

“We’re thrilled to partner with Stripe to provide our customers with new digital payment options that will enable a faster and more seamless rental experience,” said Tim Langley-Hawthorne, chief information officer at Hertz.

“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.”

Irish-founded Stripe was established by Limerick brothers, John and Patrick Collison in 2009, with its latest deal adding to existing partnerships with major global firms including Amazon and OpenAI. 

Just last week, the valuation of the global payment processing firm rebounded to $65bn (€60bn) after it entered into a share repurchasing agreement.

The tender offer which provides current and former Stripe employees with liquidity has boosted Stripe’s valuation but it still remains below the €95bn peak it hit in the e-commerce boom amid the pandemic.