Hertz, a worldwide car rental company, has partnered with Stripe Inc. to process client payments, joining Uber and Amazon.com as Stripe's clients.

According to a Thursday (Mar. 7) announcement reported by Bloomberg, Stripe will handle payments for online and in-person bookings at 3,000 corporate-owned Hertz, Dollar, and Thrifty stores in the US, Canada, Europe, Australia, and New Zealand. Moreover, in adherence to the agreement's specifications, Stripe shall integrate Apple Pay into the Hertz application and website for patrons' benefit.

Stripe's chief revenue officer, Eileen O'Mara, emphasized the importance of collaboration in ensuring that Hertz clients worldwide have a consistent payment experience.

O'Mara described the collaboration, which has a corporate headquarters in Estero, Florida, as a "long-term partnership" but did not provide any details.

Best Buy Co. and Ford Motor Co. are among Stripe's customers. The company recently revealed a $65 billion value, up from $50 billion the year before.

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A sign marks the location of the car return at a Hertz car rental facility on February 07, 2023 in Chicago, Illinois. 

(Photo : Scott Olson/Getty Images)

Hertz Sells 20,000 EVs, Opting for Gas-Powered Automobiles

Hertz Global Holdings earlier announced its plan to sell 20,000 electric vehicles (EVs) from its US fleet due to rising accident and damage expenses. The company opted to retain gas-powered vehicles, as per a Reuters report.

Among others, Hertz presently operates vehicles manufactured by Tesla Inc. and Polestar, a Swedish EV manufacturer. Before this, the car rental firm had established as its objective the conversion of 25% of its vehicle fleet to electric vehicles by the end of 2024.

The sale of electric vehicles is anticipated to incur additional depreciation expenses amounting to around $245 million during the fourth quarter of 2023. As a consequence, the adjusted corporate core profit for that period will be impacted. Hertz continues to prioritize increasing the profitability of its remaining electric vehicle fleet.

Presently, Hertz's used car website offers for sale more than 1,700 electric vehicles, including Chevrolet and Tesla models. 

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