NetSuite and Stripe Partner to Power Next-Generation Online Payment System


Stripe to Add Simple, Elegant Payment Processing Option to NetSuite SuiteCommerce Platform

SAN FRANCISCO - NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that it has established a technology partnership with Stripe, provider of a next-generation online payment system geared to enable commerce businesses to quickly and easily accept credit card payments for products and services. Stripe is at the forefront of technology innovators to push the boundaries of the next generation of commerce and to lower the bar for merchants of any size to execute transactions over the Web. The Stripe payment processing solution offers a new option to incorporate hassle-free payment functionality into SuiteCommerce, the new NetSuite commerce-aware cloud platform that enables businesses to manage B2B and B2C transactions regardless of current or future touchpoint (website, smartphone, tablet, social media).

The Stripe/NetSuite partnership is designed to offer merchants a streamlined commerce solution that comprises online payments, a Web storefront, full integration with NetSuite's financials and CRM, and a central cloud solution to manage B2C and B2B transactions regardless of the customer touchpoint, from Web to smartphones, tablets and social media. Stripe, (www.stripe.com), a San Francisco-based payments company, positions its solution as a simple, elegant alternative to more complex payment gateways or dealing with banks, credit card companies and other parties. Merchants can have Stripe up and running quickly, with Stripe handling card data, subscriptions and direct payouts to bank accounts for a single, straightforward fee of 2.9 percent plus 30 cents per successful charge. Thousands of sites on the Web, including Fast Company, McSweeney's, Sugar Inc and MongoHQ, use Stripe to accept payments online.

"NetSuite and Stripe share a common vision of streamlining commerce operations and empowering online businesses to implement and scale at breathtaking speed," said Andy Lloyd, NetSuite GM of Commerce Products. "By reducing time to value and minimizing manual tasks in the cloud, merchants can focus on delivering a world-class commerce experience that delights customers and drives revenue."

"NetSuite's SuiteCommerce platform is an innovative cloud-based commerce platform and will continue to grow in adoption with the many new enhancements and integrations that NetSuite has recently unveiled," said John Collison, President at Stripe. "We're excited to partner with NetSuite and offer critical payment functionality that can help businesses realize the promise of Commerce as a Service."

About Stripe

Based in San Francisco, Stripe provides a simple, developer-friendly way to accept payments online. Its solution handles card data, subscriptions and direct payouts to bank accounts for a single, straightforward fee of 2.9 percent plus 30 cents per successful charge. Thousands of sites on the web, including Fast Company, McSweeney's, Sugar Inc and MongoHQ, use Stripe to accept payments online.

Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates.

For more information about NetSuite, please visit www.netsuite.com.

SOURCE NetSuite Inc.

CONTACT: Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com

Web Site: www.stripe.com

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