Hertz Taps Fintech Stripe for Processing of Rental-Car Payments

Paige Smith, Bloomberg News

A Hertz rental location in Berkeley, California.

, Bloomberg

(Bloomberg) -- Hertz Global Holdings Inc. reached an agreement with Stripe Inc. for the processing of customer payments for its global car-rental business, adding to the financial-technology firm’s roster of clients that also includes Amazon.com Inc. and Uber Technologies Inc.

Stripe will process payments for the rental-car company’s in-person bookings at around 3,000 corporate-owned Hertz, Dollar and Thrifty locations in the US, Canada, Europe, Australia and New Zealand, as well as online reservations, according to a statement Thursday. As part of the deal, Stripe also will add Apple Inc.’s Apple Pay for customers using the Hertz app and website.

The partnership ensures Hertz customers in Australia will have the same payments experience as those in the US, Eileen O’Mara, Stripe’s chief revenue officer, said in an interview.

“From our perspective, it’s just a great example of how we’re partnering with large enterprise solutions,” O’Mara said. She declined to disclose terms of the deal, describing it as a “long-term partnership” with Estero, Florida-based Hertz.

Stripe, which also counts Best Buy Co. and Ford Motor Co. as clients, recently disclosed a $65 billion valuation – up from $50 billion last year.