Stripe has announced Adaptive Pricing for businesses in Asia Pacific and Latin America.
According to Stripe, this means businesses can “automatically show pricing in local currencies for buyers in over 150 countries.”
As noted in an update from Stripe, online shoppers are “purchasing more goods internationally, but it’s difficult for them to pay how they want and are often in the dark about how much they’ll be charged.”
Stripe further explained that it is “complicated for merchants to show their customers how much they’d be paying in their local currency and with their preferred payment method.”
For example, to enable some local payment methods for their buyers, merchants “must show prices in those buyers’ local currencies.”
Stripe says that it wants to be a partner “to businesses everywhere in the world that want to reach buyers outside of their local markets.”
Adaptive Pricing allows Stripe users globally “to show their buyers prices in their local currencies.”
Today, Stripe said they are announcing that their users “across EMEA, APAC, and Oceana can use Adaptive Pricing.”
This means they’re supporting: “localized prices for buyers in 100+ new countries and 21 new markets, for ample global coverage.”
They initially tested how effective Adaptive Pricing is “in the UK, EU, US, and Canada.”
They claim to have seen solid results.
As mentioned in a note shared with CI, Adaptive Pricing led to “an average 17.8% uplift in cross-border revenue for businesses 90% of customers chose to check out in their local currency when given the option.”
As covered earlier, Stripe, a financial infrastructure platform for businesses, announced a range of product and partnership updates for businesses operating in France.
This represents Stripe’s largest set of new products “for the French market since launching in the country in 2016.”
Starting this summer, Alma, the buy now, pay later (BNPL) provider in France “with over 4 million active users, will be available as a payment method for all Stripe users.”
It can be turned on directly from the Stripe Dashboard with no code required.
Alma is one of 100 payment methods “available in Stripe’s Optimized Checkout Suite (OCS), including Apple Pay, PayPal, and Alipay.”
French retailer La Redoute has “more than $1 billion in annual revenue, and immediately unlocked 2% of additional income, simply by switching to OCS.”
Stripe is accelerating the “deployment of Stripe Terminal’s unified commerce capabilities in France. Planity, Frichti, and Hertz already use Terminal to unify their online and offline revenue streams.”
