Payments platform Stripe announced on Tuesday it is launching a series of products to help platforms and their business customers adapt as the economy reboots during the COVID-19 pandemic. Stripe reported that platforms it powers now have access to an enhanced toolkit, which will help the platforms’ customers adapt to a “fast-changing” economic environment.
Stripe further explained that it is launching the customer portal for Billing so platforms with recurring revenue streams can give their customers more control to manage subscriptions while minimizing engineering investment.
“The customer portal is a secure, Stripe-hosted page that lets customers manage their subscription and billing details, such as updating payment information, choosing from different payment plans, or viewing their entire billing history. Just as Stripe Checkout provides a fully optimized purchase flow requiring next to no engineering effort, the new customer portal for Stripe Billing does the same for subscription management.”
Stripe is planning to add support for Bacs Direct Debit in the UK, BECS Direct Debit in Australia, FPX bank debits in Malaysia, and Pre-Authorized Debits (PADs) in Canada. These trusted bank debit payment methods are particularly popular with subscription services. The payments company added:
“Now, platforms with recurring revenue streams can use Stripe to handle the strict design and compliance requirements associated with accepting these bank debit payment methods. This provides international customers with more choice at the checkout, as well as boosting conversion and lowering costs in particular for B2B software platforms where bank debits are among the most preferred payment methods.”