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Society Pass integrates Stripe's payments platform

Monday 28 November 2022 15:16 CET | News

Fintech Society Pass (SoPa) has partnered with Stripe to integrate its payments platform and power transaction settlement services for merchants and consumers.

 

By leveraging Stripe’s cutting-edge technology solutions, Society Pass aims to expand its ecosystem’s product and geographical reach, simplify payment flows, and accept payments at scale in multiple currencies. 

Additional details on what the partnership entails

The company will also make use of Stripe’s anti-fraud technology, Stripe Radar, looking to detect and block fraud by utilising machine learning. In addition, merchants on SoPa’s ecosystem will be able to leverage Stripe’s payment infrastructure to accept credit and debit cards payments from customers, enabling their customers to checkout in a simple manner, while simultaneously providing consumers with an improved shopping experience. 

SoPa officials have stated in the company’s press release that by integrating with Stripe, their consumers are offered diverse payment options, while the process for merchants is streamlined to manage their finances and get paid faster. Furthermore, the company believes that by offering convenience, flexibility, and control on both sides of the retail transaction, it paves a win-win path for merchants and consumers alike, the partnership with Stripe believed to be an organic path to help accelerate this goal. 

Fintech Society Pass (SoPa) has partnered with Stripe to integrate its payments platform and power transaction settlement services for merchants and consumers.

Being a global financial infrastructure platform. Stripe aims to simplify how companies launch, run, and scale their business, offering a wide range of software tools, including services of the likes of built-in-machine-learning powered fraud protection and advanced analytics and infrastructure that enable business of all sizes to scale locally and internationally, while simultaneously reducing time and resources spent on payments to redirect their focus on their core business. 

Society Pass’ ecosystem aims to transform the retail value chain towards a more digital future in South-East Asia, having plans to continue in simplifying the use and access to online shopping by leveraging cutting edge technologies and capabilities to tailor more intelligent, individualised, and contextual experiences for the next generation consumers. Furthermore, the company is committed in making continuous effort to reinforce and diversify its ecosystem through means of strategic acquisitions of market-leading companies and partnerships with entrepreneurs in six distinct B2C ecommerce verticals: loyalty, lifestyle, food and beverage delivery, telecoms, digital marketing, and travel.

Society Pass company information

Society Pass was founded in 2018 as a data-driven loyalty, fintech and ecommerce ecosystem in the growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand. An acquisition-focused holding company, it operates six interconnected verticals – loyalty, digital media, travel, telecoms, lifestyle, and F&B, connecting registered consumers and merchants/brands across multiple product and service categories throughout SEA. 

The enterprise acquires fast-growing ecommerce companies and expands its user base across a robust product and service ecosystem, integrating these complementary businesses to its Society Pass fintech platform and circulation of its universal loyalty points (Society Points), which has entered beta testing and is expected to launch at the beginning of 2023. Members of the Society Pass loyalty programme can earn and redeem Society Points and receive personalised promotions based on the company’s data capabilities and consumer shopping behaviour. 

As of now, the company has over 3.3 million consumers and more than 205,000 merchants and brands registered and has invested over two years in building proprietary IT architecture to scale and support its consumers, merchants, and acquisitions in an effective manner.

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Keywords: partnership, payments , online payments, payment processing, digital payments, ecommerce platform, online platform, settlement, transactions
Categories: Payments & Commerce
Companies: Society Pass, Stripe
Countries: South East Asia
This article is part of category

Payments & Commerce

Society Pass

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Stripe

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