Payments platform Stripe announced on Thursday it has launched Stripe Billing in Europe. According to Stripe, Stripe Billing combines advanced machine learning, SCA compliance features, and granular tax modeling to help European subscription and Saas companies get paid faster. Stripe revealed:
“With Stripe Billing, European businesses of all sizes now have access to enterprise-grade tools to implement subscription models quickly and at scale. Billing uses Stripe’s advanced machine learning infrastructure to help businesses increase revenue, move more quickly and significantly reduce engineering effort. Instead of manually retrying cards, Stripe Billing’s smart retries use machine learning to figure out the best time to retry failed cards. In the US, where Stripe Billing launched last year, smart retries have led to a 7% lift in recovered revenue, on average, for businesses using Billing. This is revenue that the business would not otherwise have earned.”
Stripe also reported that Stripe Billing automatically generates invoices on business’ behalf. Instead of being static bills, Stripe’s hosted invoices are interactive payment pages, making it easy for customers to submit a payment instantly, without even opening a new browser tab. While sharing more details, Tara Seshan, Product Manager for Stripe Billing, stated:
“Subscription and SaaS companies have been some of the internet’s greatest success stories up to now, but we’ve barely scratched the surface of what’s possible, especially here in Europe. With Stripe Billing, companies of all sizes now have access to advanced invoicing tools that will also help them comply with SCA and VAT requirements. We’re excited to power the next generation of European subscription companies as we continue building the economic infrastructure that will grow the GDP of the internet.”
Stripe added that the new Stripe Billing features are generally available for all European customers.