Weave (NYSE: WEAV), the all-in-one customer communication and engagement platform for small- and medium-sized businesses, and Stripe, a financial infrastructure platform for businesses, announced today a multi-year agreement to process payments on Stripe Connect for Weave’s 27,000+ specialty healthcare customers across the U.S.
As part of the expanded partnership renewal, Weave has added Stripe Capital, an embedded finance option for business owners, to its all-in-one platform. Stripe Capital provides access to fast, flexible financing so small business owners can manage cash flows and invest in growth. Weave will leverage additional Stripe features later this year as it expands its Payments offering for existing and new customers, helping small businesses be even more successful in engaging their patients, collecting balances, and meeting the growing demand for digital payment options like Text to Pay and mobile wallets like Apple Pay and Google Pay.
“One of the most important interactions Weave customers have with their patients is in payment collection,” said Weave CEO Brett White. “Our renewed relationship with Stripe as our strategic partner, combined with Weave’s award-winning customer communication and engagement technology, is helping offices power convenient and modern payment experiences that their patients want.”
Weave’s 2023 Healthcare Business Insights Report recently identified a patient expectation gap around the payment options healthcare providers offer compared to how patients would prefer to pay. 63% of patients said they were most likely to pay a healthcare bill if it was sent via text with a link to pay, but 53% of providers still prefer to collect payments with a phone call. Weave and Stripe will enable businesses to easily offer online payments and preferred card payment methods. Stripe Terminal will also power in-person payments for customers on Weave’s platform.
“Our strategic partnership with Weave means more businesses can access fast, reliable financing through Stripe Capital,” said Kate Jensen, Head of Platform Sales at Stripe. “Weave patients expect a seamless payment experience, and we’re thrilled our platforms are teaming up to get the job done.”
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