Stripe Billing will give European businesses of all sizes the ability to implement enterprise-level subscription payments quickly and at scale. The system uses Stripes machine learning technology to help businesses quickly boost revenue and reduce engineering efforts.
The machine learning technology allows businesses to figure out the best time to reprocess failed credit cards, which helped boost lost revenue by 7% in the US when the smart billing technology was added.
Stripe officials noted that subscription-based ecommerce has grown more than 100% in the past five years and 32% of consumers say they would rather buy goods using a subscription instead of a one-off purchase.
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