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Stripe Adds New Payment Methods to Checkout Suite

Stripe has added new payment methods and A/B test capabilities to its optimized checkout suite.

The suite provides businesses with products, tools and features they can integrate into their customer journey, the financial infrastructure platform said in a Monday (Sept. 18) press release.

“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,” Abhinav Tiwari, product lead for Stripe’s optimized checkout suite, said in the release. “That ideal may not quite exist yet, but thanks to the efforts of thousands of payments engineers at Stripe, we’re getting closer by the day.”

According to the release, Stripe’s checkout suite now offers consumers access to more than 100 payment methods. It also presents customers with the payment methods that are most relevant to them by using data-driven algorithms. 

Another new feature is a no-code A/B testing tool that helps businesses identify the payment methods in their checkout that perform best, the release said. With this tool, businesses can use the data to make improvements over time.

Additionally, businesses can now use a single component to display multiple one-click payment buttons, including Apple Pay, Google Pay and Link, per the release. This new Express Checkout Element shows only the payment methods that are supported by the device or browser being used by the customer.

“The optimized checkout suite is available globally, and will expand to include more products and features over time,” Stripe said in the press release.

PYMNTS Intelligence has found that a positive checkout experience keeps customers coming back to a merchant.

Seventy-six percent of loyal customers, 64% of persuadable customers and 63% of deal-chasers said a satisfying checkout experience influences their decisions on whether to purchase again from a given merchant, according to “At the Checkout: Deal-Chasers Versus Loyal Customers,” a PYMNTS and collaboration.

Consumers often walk away before the transaction is done if they have to struggle with drop-down menus, inputting card details and expiration dates, Stripe President of Product and Business Will Gaybrick told PYMNTS’ Karen Webster in a June interview.

“We intelligently ‘order’ the payment methods based on which ones are most likely to convert for that session and for that consumer,” Gaybrick said at the time.