Luckin Coffee partners with Stripe

Following this announcement, by leveraging Stripe’s scalable infrastructure, technical support, and localisation capabilities, Luckin Coffee aims to establish a robust cross-border payment system in order to power its development and growth in Singapore and Malaysia. 

In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

More information on the Luckin Coffee x Stripe partnership

According to the official press release, Stripe’s extensive technical documentation and responsive support allowed Luckin Coffee to complete a full payment system integration. This model also focused on reducing the ongoing development costs, as well as setting a strong foundation and easy application for further expansion in other markets, and driving operational efficiency at scale. 

In addition, Stripe localisation support will ensure Luckin Coffee’s ability to develop a full suite of local payment methods, including Apple Pay, Google Pay, credit cards, GrabPay, PayNow, and FPX. At the same time, with Stripe’s checkout optimisation tools, its Payment Elements System will intelligently surface each user’s preferred payment method, while Link will provide a fast one-click checkout experience for returning clients. This process also ensures a frictionless payment flow that complements the fast-paced nature of coffee consumption. 

Stripe will offer Luckin Coffee critical insights into local payment ecosystems, as well as customer behavior and regulatory requirements. Furthermore, with deep experience in cross-border payments and compliance, Stripe will provide Luckin Coffee with a secure and efficient go-to-market strategy in both Singapore and Malaysia, as well as optimising the brand to navigate and adhere to local regulatory frameworks and secure entrance. In addition, the collaboration will scale internationally with the right infrastructure, as well as local expertise in place.