🌐 Launch of Adaptive Pricing
On August 7, 2024, Stripe introduced Adaptive Pricing, a feature that helps businesses present prices in buyers' preferred local currencies. Merchants in over 50 countries can now turn on Adaptive Pricing with a single click on their Stripe dashboard.
💰 Impact on Global Sales
Stripe’s research shows that 90% of customers prefer to pay in their local currency when given the choice. This option leads to an average 17.8% increase in cross-border revenue for businesses using Adaptive Pricing. This feature also unlocks local payment methods like Alipay and WeChat Pay, making transactions smoother and more accessible.
📊 Expanding Payment Methods
Adaptive Pricing automatically enables various local payment options, such as Bancontact, EPS, iDEAL, P24, SEPA Direct Debit, and more. This is a significant advantage for businesses targeting international markets, where local payment methods are often a preference or requirement.
🗣️ Insights from Stripe
Abhinav Tiwari, product lead for Stripe’s optimized checkout suite, highlighted the simplicity of this new feature, stating, “It’s surprising how low the low-hanging fruit in payments really is.” With more online shoppers purchasing internationally, Stripe’s Adaptive Pricing offers a critical tool for businesses looking to increase their global reach.
Will Adaptive Pricing change how businesses approach global sales?
