Stripe introduces new product updates in Southeast Asia

Thursday 28 September 2023 10:08 CET | News

US-based Stripe has introduced new product updates in Southeast Asia in order to accelerate digital commerce and automate the financial processes of businesses.


Following this announcement, Stripe will expand its revenue and its overall finance automation suite into Vietnam, Malaysia, Indonesia, and Thailand, in addition to Singapore, aiming to improve the manner in which they are developing around the world. The new product updates are set to offer businesses of all sizes in the regions the possibility to meet the needs, demands, and preferences of their customers, as well as expand their digital commerce offerings and pursue global growth opportunities. 

Furthermore, the solutions will be leveraged to minimise checkout friction and reduce the overall gaps between online and in-person payments for companies. Stripe also showcased services for businesses to use in the process of modernising their finance stacks, in order to increase productivity and efficiency through automation. 


US-based Stripe has introduced new product updates in Southeast Asia in order to accelerate digital commerce and automate the financial processes of businesses.

More information on the product update

The upgrades will enable firms and businesses to provide their clients with a secure and optimised checkout experience without the need to develop it from scratch, while also including access to more than 100 payment methods. The launch also aims to unify online and offline commerce, with the integration of the Stripe Reader S700 tool. 

The service represents a customisable point-of-sale device that was developed to accept payments, make the process of personalising the device easier (with features such as branding the splash screen and running custom applications for taking orders), as well as collect relevant client details (including signatures or email addresses). The Stripe Reader S700 is set to be made available in all 23 countries around the world where the Stripe Terminal is utilised. 

The company also shared updates about its Link checkout solution, also available for businesses in Southeast Asia. The product will enable enterprises and partners to speed up the checkout experience for users by saving payment details in an efficient and secure manner. The information will be available to be leveraged at multiple businesses within Stripe’s network, while also increasing the conversion procedure. 

In order to address the challenges and difficulties that companies and merchants meet in the process of expanding and solving back-office tasks, Stripe also shared an expansion of its revenue and finance automation service suite. These solutions were designed to improve the manner in which businesses managed their time and resources by automating revenue and finance workflows. It also focuses on coordinating billing, tax, data, and reporting tools in one modern and secure stack. The product will allow merchants to drive the overall development process, as well as increase efficiency and reduce costs. 

Stripe will prioritise the increasingly complex international tax environment at the same time, providing companies with its Stripe Tax solution. Customers and partners will be given the possibility to leverage the product in order to automatically collect sales tax, GST, and VAT on transactions in over 40 currencies across the globe. 

Stripe’s recent partnerships and launches

Financial infrastructure platform for businesses, Stripe announced multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world. 

In September 2023, the company launched new features to its checkout suite to increase customers’ overall revenue by optimising payment procedures. The upgraded checkout suite was set to offer clients more payment method choices and to optimise the manner in which businesses supported the top one-click checkout processes. It also included a no-code A/B testing tool for firms to evaluate how different payment methods perform in general. 

Earlier in the same month, Australia-based end-to-end online fitness business platform Hapana announced its collaboration with Stripe in order to expand around the world. The company was enabled to deliver global financial infrastructure services to gyms and fitness brands.

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Keywords: product upgrade, expansion, mobile payments, online payments, digital payments, payments , cross-border payments, ecommerce
Categories: Payments & Commerce
Companies: Stripe
Countries: Indonesia, Malaysia, Singapore, Thailand, Vietnam
This article is part of category

Payments & Commerce


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