After exploring other market offerings, THE ICONIC chose Stripe, based in US and Ireland, to land on a solution that delivers payment choice for its ANZ-wide customers, and increased revenue through improved conversion and acceptance rates.
Stripe will provide the payments infrastructure to power the volume of transactions processed through THE ICONIC’s site every day, offering customers a flexible suite of payment methods.
According to the press release, the key reason THE ICONIC partnered with Stripe was to improve revenue optimisation through Stripe’s Adaptive Acceptance technology. This tool reduces instances of legitimate transaction rates being inadvertently declined by using machine learning and Stripe’s historical data from processing payments. Ultimately, this helps merchants like THE ICONIC accept as many legitimate transactions as possible, to increase revenue and improve the customer checkout experience.
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