Financial Infrastructure Fintech Stripe Introduces Products for Southeast Asia Clients

Stripe, a financial infrastructure platform for businesses, introduced its latest product innovations at Stripe Tour Singapore.

Stripe products are positioning businesses of all sizes in Southeast Asia “to take advantage of surging consumer demand in the region for online goods and services.”

A recent Stripe report on global digital trade found “that 84% of Singapore consumers were open to purchasing physical products online and 74% were open to purchasing digital services—significantly above the global average of 68%.” The new Stripe features accelerate the checkout experience and “provide businesses with tools for automatically managing core revenue and finance tasks.”

Sarita Singh, regional head and managing director for Southeast Asia, India, and Greater China at Stripe, said:

“Southeast Asia’s rapidly expanding and dynamic digital economy holds tremendous global potential. The ingenuity and entrepreneurship emerging from this region will continue to have global impact.” 

Southeast Asian consumers now come to “expect a frictionless digital commerce experience. However, Stripe research finds that the majority of leading ecommerce sites still have subpar checkouts that cause customers to abandon their carts and businesses to lose revenue.”

To help businesses respond, Stripe’s newly updated optimized checkout suite, which allows businesses to “offer their customers an effortless checkout experience, without having to build or maintain it themselves.”

Recent additions to the optimized checkout suite “include access to more than 100 payment methods and an A/B testing tool that allows businesses to rigorously identify the best-performing payment methods in their checkout.”

Businesses can also integrate Link, Stripe’s accelerated checkout experience “that autofills saved payment details to help customers complete their transactions faster.”

Stripe research found “that businesses that migrated from an older Stripe integration (the Card Element) to the optimized checkout suite saw a 10.5% increase in revenue.”

Stripe also shared product launches “that help unify online and offline commerce.” These include Stripe Reader S700, Stripe’s newest point-of-sale device “that will soon be available in 23 countries, including Singapore.”

Jude Kumar, founder and CEO of fast-growing startup EatMe Global, said:

“These latest solutions are timely for us. Stripe helped us create a streamlined experience that supported omnichannel ordering, payment, and reconciliation to deliver just what our customers were looking for—at a reduced cost. Now, as we plan to expand to more countries in Asia, we plan on scaling together with Stripe,”

Recent Stripe research found “that 84% of businesses in Singapore expect to expand into new countries over the next 24 months.”

However, a new Stripe study of finance leaders “reveals that progress is being hampered by manual back office processes that don’t scale with the complexity of global expansion.”

In response, Stripe is expanding its revenue and finance automation product suite, which facilitates rapid business growth “by automating revenue and finance workflows.”

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