The Mercedes-AMG Petronas F1 Team on Tuesday announced a multi-year global partnership with Stripe. The Delaware-incorporated payments provider, which operates worldwide, becomes the team's official global payments partner and official team partner.

Neither side disclosed financial terms.

The Stripe logo will race from the first grand prix of the 2027 season. Stripe plans to roll out its first products earlier, at key races, starting with merchandise sales.

More Than a Logo on the Car

Unlike a classic sponsorship deal, this one reaches into day-to-day operations. Stripe is to deploy its technology across all of the racing team's business units and develop its finance and payment functions worldwide.

The need is there. The team operates in numerous markets and currencies, said chief commercial officer Richard Sanders, «from merchandise and experiences to partner relationships and international transactions.» Stripe is meant to simplify how all of this is managed.

«The Only Choice»

Team principal Toto Wolff said he wanted to work with «the best of the best,» adding: «Stripe was the only choice.» Fittingly, he made the announcement as a guest on «Cheeky Pint,» the podcast hosted by Stripe co-founder and president John Collison.

Collison, in turn, praised the team's «exceptional technical standards» and its «relentless drive to improve.» That combination, he said, mirrors exactly how Stripe works.

Stripe does not serve consumers. Instead, it supplies the technology behind companies' payment processes.

That is precisely what sets the new partner apart from the existing one, Latin American digital bank Nu. The Brazilian neobank has been an official Mercedes team partner since this season, seeking above all to reach consumers in Latin America (finews.com reported).

Financial Firms Line Up in the Silver Arrows Camp

The list of financial names in Mercedes' partner portfolio is thus growing longer. Besides Nu, it includes exchange operator Nasdaq and UBS, which has been tied to the team for years (finews.ch reported, German only).

Rivals are gearing up as well. At the new Audi works team, British neobank Revolut has been title sponsor since this season.

Formula 1 remains a sought-after arena for financial firms, and fintechs have long since worked their way up the starting grid.