According to the recent press release, Stripe's checkout suite now provides consumers access to a vast selection of over 100 payment methods. It leverages data-driven algorithms to present customers with the payment options most pertinent to them.
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GLOStripe has enriched its optimized checkout suite by introducing fresh payment methods and incorporating A/B testing capabilities, offering businesses a comprehensive array of tools to streamline their customer journeys. Abhinav Tiwari, the product lead for Stripe’s optimized checkout suite, articulated the vision of achieving an ideal checkout experience where any legitimate customer, anywhere in the world, can swiftly complete a purchase using their preferred payment method, with minimal engineering effort required by the business.
According to the press release, Stripe’s checkout suite now provides consumers access to a vast selection of over 100 payment methods. It leverages data-driven algorithms to present customers with the payment options most pertinent to them.
A noteworthy addition is a no-code A/B testing tool that assists businesses in identifying the most effective payment methods in their checkout process. This tool empowers businesses to use the gathered data for ongoing enhancements.
Moreover, businesses can now employ a single component to showcase multiple one-click payment buttons, including options like Apple Pay, Google Pay, and Link. This innovative Express Checkout Element tailors the displayed payment methods to those supported by the customer’s device or browser.
Stripe affirmed that the optimized checkout suite is accessible globally and will continue to expand with additional products and features over time.
PYMNTS Intelligence underscores the substantial impact of a seamless checkout experience on customer loyalty. An impressive 76% of loyal customers, 64% of persuadable customers, and 63% of deal-chasers indicated that a satisfying checkout process significantly influences their decision to make repeat purchases from a specific merchant.
Stripe’s President of Product and Business, Will Gaybrick, pointed out in an interview with PYMNTS’ Karen Webster that customers often abandon transactions if they face difficulties with drop-down menus, inputting card details, and expiration dates. Gaybrick emphasized the intelligent prioritization of payment methods based on their likelihood to convert for each session and consumer.
Source: PYMNTS
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