Stripe has unveiled a range of new features designed to boost cross-border commerce in Asia, including AI-driven payment tools and broadened market coverage. These updates were announced at the Stripe Tour Singapore, the company’s annual product showcase in the region. A major highlight is the launch of Stripe’s Optimized Checkout Suite, which leverages artificial intelligence to select the most appropriate payment methods for customers based on their preferences.
This update is designed to enhance the checkout experience, leading to increased conversion rates for businesses. Stripe has also launched no-code A/B testing for payment methods, enabling businesses to optimize their payment processes without requiring technical skills. Additionally, Stripe has introduced its new Adaptive Pricing feature, which localizes pricing across 150 markets, including key Asian economies such as Japan, Singapore, and India.
This tool allows customers to pay in their local currency, enabling businesses to manage multiple currencies and fluctuating exchange rates. Stripe research shows that 90% of customers choose to check out in their local currency. According to Stripe, businesses using Adaptive Pricing have seen an average increase of 17.8% in cross-border revenue and an 8% uplift in conversion rates.
To enhance fraud prevention, Stripe has launched Radar Assistant, an AI-powered tool that lets businesses create and test new fraud prevention rules using straightforward language prompts. This tool aims to reduce fraudulent transactions while minimizing false positives. Additionally, Stripe has announced a new partnership with NICEPay, allowing U.S. merchants to accept payments from South Korean customers with a fully localized experience.
This expansion offers access to one of Asia’s leading e-commerce markets without requiring businesses to set up a local entity. Stripe also intends to expand its local payment method options in Indonesia next year. These updates reflect Stripe’s ongoing growth in Asia, where the company reported a 28% year-on-year increase in the number of businesses processing $1 million or more in payment volume on its platform.
“Last year, cross-border payment volume in Asia on Stripe grew more than 30%. Building on that momentum, we’re equipping businesses with tools to accelerate their revenue growth, including an optimized checkout suite, the ability to show local prices to customers, and advanced fraud prevention tools. This will help Asian businesses to boost their revenue”, said Sarita Singh, Regional Head and Managing Director for Southeast Asia, India, and Greater China at Stripe.