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Zara selects Stripe as payments partner for resale platform

By Gloria Methri

May 23, 2023

  • B2B Marketplace
  • Europe
  • Financial Infrastructure
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Stripe, Payment Processing, UK, Zara, Zara Pre-Owned, Europe, FinTechStripe, a financial infrastructure platform for businesses has been selected as Zara’s payments partner for the retailer’s pre-owned clothing marketplace. Zara will use Stripe Connect to move funds between buyers and sellers of pre-owned products.

With Zara Pre-Owned, the company will offer its customers a resale opportunity to extend the lifetime of their products. Owners take pictures of their unwanted Zara products, which are then cross-referenced with the product portfolio, giving potential buyers detailed information on the items they wish to purchase. The platform also offers customers other sustainable choices, like the option to donate their clothes or request a repair.

Zara can embed  Stripe’s global payments platform directly into its Pre-Owned marketplace, offloading all payments-related requirements onto Stripe, while keeping the customer experience fully Zara-branded. Zara Pre-Owned is now available to customers in the UK and will expand across other European markets in the second half of 2023.

On average, only 8.6% of materials extracted from the Earth are returned to the economy to be reused. As per the World Economic Forum, the transition to more sustainable models will generate $4.5 trillion of additional economic output by 2030, supported by a change in consumer and retailer habits like pre-owned marketplaces.

“Sustainability in retail is finally receiving the attention it deserves to help protect our fragile planet. We are thrilled that Zara has chosen Stripe as they lead the way,” said Eileen O’Mara, head of global sales at Stripe.

Stripe is a technology company that builds economic infrastructure for the Internet. Businesses of all sizes use its software to accept payments and manage their businesses online. Stripe has dual headquarters in San Francisco and Dublin, as well as offices in London, Paris, Singapore, Tokyo, and other locations around the world.

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