Southeast Asian eCommerce ecosystem Society Pass (SoPa) says it has integrated Stripe’s financial infrastructure solutions onto its platform.
“Leveraging Stripe’s cutting-edge technology solutions, Society Pass expands the product and geographical reach of its ecosystem, simplifies payment flows, and accepts payments at scale in multiple currencies,” the company said in a news release Monday (Nov. 28).
SoPa added that the integration lets it use Stripe’s anti-fraud technology, Stripe Radar, to ferret out and block fraud through machine learning.
Merchants can use Stripe’s payment infrastructure to accept credit and debit card payments from customers, letting customers simplify their checkouts while improving the shopping experience, SoPa said.
“By offering convenience, flexibility, and control on both sides of the retail transaction, SoPa paves a win-win path for our merchants and consumers alike,” Rokas Sidlauskas, the company’s chief marketing officer, said in the news release. “Partnering with Stripe is an organic path to accelerate this goal.”
Recent research by PYMNTS has underlined the importance of providing a painless checkout experience for consumers.
We found that 91% of consumers say that a satisfying checkout experience greatly influences the likelihood of them ever returning to a given merchant.
The prioritization of checkout not only topped all other factors we asked about in the survey but offers a stark make-or-break reminder to retailers of what is essential, especially as sales and conversion are under pressure due to the economic stress hitting most consumers.
“If you look at the checkout process today, it’s a big point of friction,” Karma Co-founder and CEO Jonathan Friedman said in a recent interview with PYMNTS discussing his company’s new time and money-saving rapid payment solution.
“You need to put in your input, you need to sign up, you need to add your credit or debit card, which is why [merchants] still experience around 75% shopping cart abandonment,” he noted, as the chief catalyst for creating and launching Karma’s single shopping cart experience.
