CareCredit - Women's Health April 2024

Spryker Adds Stripe Integration to App Composition Platform

Spryker expanded its App Composition Platform to include Stripe as a global payment services provider (PSP).

With the Stripe integration, enterprises using the platform can expand into new regions and facilitate business with customers around the world, Spryker said in a Wednesday (April 3) press release.

“The ability to quickly implement a state-of-the-art payment option like Stripe in new regions with minimal effort will give enterprises the edge and flexibility they need to keep up with evolving customer and business demands,” Spryker Co-founder and CEO Boris Lokschin said in the release.

Enterprises can deploy Stripe’s Payment Element, which supports more than 40 payment methods, its optimized checkout suite that helps businesses increase their revenue by 10.5% on average, and its composable and out-of-the-box capabilities that provide adaptability, according to the release.

The features join the Spryker App Composition Platform that gives enterprises access to third-party services and digital commerce vendors and lets them test the value of the apps and services on their business, the release said.

Spryker and Stripe also plan to develop a pre-built marketplace payment integration, per the release. This will include additional composable capabilities like split payments, Merchant Payout and Merchant PSP Onboarding.

“Stripe’s focus on facilitating global transactions aligns with Spryker’s mission to provide the leading composable platform designed for sophisticated transactional businesses,” Manishi Singh, senior vice president of App Composition Platform, cloud and technology partnerships at Spryker, said in the release. “Together, we have built an integration specifically to enable B2B enterprises to achieve their business goals faster.”

Enterprises are still spending money on implementations and integration customizations, Lokschin told PYMNTS in an interview posted in December.

Removing or streamlining that stage of development frees up “a lot of capital” that can be reallocated to other parts of the business, he added.

“I think this market is asking for efficiency gains, further automations and cost reductions — and that will be the drivers of what gets built in 2024,” Lokschin said.

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