Stripe becomes Zara’s payments partner for Zara Pre-Owned
DUBLIN—Stripe, a financial infrastructure platform for businesses, today announced that it has been selected as Zara’s payments partner to process all payments for the retailer’s pre-owned clothing marketplace, Zara Pre-Owned. Zara will use Stripe Connect to move funds between buyers and sellers of pre-owned Zara products.
With Zara Pre-Owned, Zara offers its customers a simple resale opportunity to extend the lifetime of their products. Owners take pictures of their unwanted Zara products, which are then cross-referenced with Zara’s product portfolio, giving potential buyers detailed information on the items they wish to purchase. The platform also offers Zara customers other sustainable choices, like the option to donate their clothes or request a repair.
Stripe Connect enables Zara to embed Stripe’s global payments platform directly into the Zara 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. The World Economic Forum calculates that 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're thrilled that Zara has chosen Stripe as they lead the way,” said Eileen O’Mara, head of global sales at Stripe.