“We’ve worked with Amazon Payments from the very beginning of Kickstarter—a year before we launched, in fact,” says a post on Kickstarter’s official blog. “Late last year Amazon decided to discontinue the payments product that we have used. We took the opportunity to consider the best possible partner to process payments for creators and backers moving forward.”
Kickstarter is keen to assure users that the switchover to Stripe (which will be completed by next week) will make things easier than ever for users. Project creators will no longer need to set up Amazon Payments business accounts, for one, which will speed up the process of launching a Kickstarter. Project backers can also now make their payments through Kickstarter itself, rather than being redirected elsewhere. Finally, fees will remain the same—meaning that a successfully funded project will see a 5% fee applied to the total amount of funds raised, while Stripe will apply its own credit card processing fees of between 3-5%.
Stripe has been rapidly gaining momentum over the past year, leading to a massive end of 2014 valuation of $3.5 billion.