Stripe has announced new features within its checkout suite, offering businesses more flexibility, including access to over 100 global payment methods.
According to Stripe, businesses can now fully integrate its tools, products, and features without the need to build a proprietary solution from the ground up.
“Stripe’s new features are part of an effort to help merchants create an optimal checkout experience for each customer while requiring minimal effort from merchants,” said Daniel Keyes, Senior Analyst for Merchant Services at Javelin Strategy & Research.
“Merchants are usually not payment experts and don’t have time to construct the exact right payment flows for different types of consumers depending on their preferences and geographies, so these new features should boost Stripe’s appeal,” he added.
According to Abhinav Tiwari, Product Lead for Stripe’s optimized checkout suite, the company is one step closer to the ideal checkout experience. In a prepared statement, he said:
“What is the perfect checkout experience? It’s one where any legitimate customer, anywhere in the world, can complete a purchase in just a few seconds using their preferred payment method—and which requires minimal engineering effort from a business to build or maintain,” said Abhinav Tiwari, Product Lead for Stripe’s optimized checkout suite, in a prepared statement.
Enhancing The Checkout Experience is Key
Without question, a seamless checkout experience—as well as offering a variety of payment methods—translates to repeat customers and revenue growth. And that’s what Stripe is working towards by continuing to expand its offerings to meet consumer payment demands.
In fact, earlier this year the company launched Tap to Pay for Android users. As an alternative to card readers, merchants can now offer this contactless form of payment via mobile wallets such as Google Pay, and supports Mastercard, American Express, and Visa payments.
Although including a plethora of payment method options at checkout is important, figuring out the right amount of payment offerings is tricky. There is always the risk of offering too many options for consumers, which may cause confusion at checkout.
The best way to determine which payment options to feature will largely depend on the type of customers you have as well as the price point of your offerings.
At the end of the day, consumers not only want multiple payment options and a smooth payment experience, but they also want the guarantee that their payment credentials and other sensitive information remain safe.